Bernie Sanders – We need a bold program for job creation

Here is the video of MSNBC – Ed Show – GOP Criticizes Obama on jobs, having created none  interviewing Sen Bernie Sanders.

You can contribute to Senator Sanders on his web site.

I agree with everything Sanders says about infrastructure and the need for a bold plan.

Where he loses me is when he goes off on free trade. With regard to all the jobs outsourced from this country, I am afraid the horse is out of the barn on that one. I cannot imagine a sensible piece of legislation that would bring back jobs from other countries that are being done very well by workers who work for less than American workers.

Unless the balance of incentives in this country are changed to favor manufacturing over financial manipulation, even work for which we would be competitive will not be done here.

The effort to improve our competitive situation will not be changed greatly by tinkering with free trade agreements.

The problem lies in our tax structure. We shouldn’t have a tax system that makes it far easier to make huge profits in financial games rather than in useful lines of endeavor such as manufacturing, engineering, and infrastructure repair.

Our income tax gives highly favorable treatment to unproductive financial manipulations. Not only should this favorable treatment of these activities not be rewarded by treating hedge fund ordinary income as capital gains, but the tax code should be changed to put a little friction in the rapid trading of financial instruments such as stocks and possibly other items such as futures, derivatives, and other fancy financial instruments.

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