“Over time, these impacts will also affect businesses’ ability to provide well-paying jobs, further reducing incomes. If this investment gap is not addressed throughout the nation’s infrastructure sectors by 2025, the economy is expected to lose almost $4 trillion in GDP, resulting in a loss of 2.5 million jobs in 2025.
“Moreover, workers who are employed will earn lower wages, and in the long term, many higher paying jobs in technology and other leading sectors will be replaced by jobs that fulfill needs brought on by the inefficiencies of deteriorating infrastructure.”
There you have it!
Why focus upon repairing, rebuilding, replacing, and expanding America’s deteriorated economic infrastructure?
Because not only will YOU lose money and unemployment will increase, but American Gross Domestic Product will seriously decline, and that means reduced profitability for businesses of all types and all sizes – from Mom & Pop small and minority-owned businesses, to corporate giants, as well.
That finding is from the American Society of Civil Engineers (ASCE), and their report “Failure to Act: Closing the Infrastructure Investment Gap for America’s Economic Future,” which was published in May 2016, as the final update from four previous reports in the Failure to Act series published in 2011 and 2012. In those reports, the ASCE examined 10 infrastructure sectors critical to American economic prosperity.
Those reports were followed by a fifth, comprehensive final report entitled “Failure to Act: The Impact of Infrastructure Investment on America’s Economic Future,” which focused upon the total economic loss which would occur because of America’s failure to act in more than one sector.
The purpose of the report was to provide a total overall analysis of the economic implications of continuing to fail to invest in multiple infrastructure categories.
Even the Central Intelligence Agency sees America’s problems for what they are. It’s as plain as the nose on one’s face. And it’s NOT a partisan, Republican versus Democrat type of issue. It’s a matter of NATIONAL SECURITY.
Even America’s spy agency, the Central Intelligence Agency (CIA), sees the problem clearly, and has recognized not only it, but the increasing inequities of income distribution, as well.
“Long-term problems for the US include stagnation of wages for lower-income families, inadequate investment in deteriorating infrastructure…
“…the rise of low-wage producers such as China, has put additional downward pressure on wages and upward pressure on the return to capital. Since 1975, practically all the gains in household income have gone to the top 20% of households. Since 1996, dividends and capital gains have grown faster than wages or any other category of after-tax income.”
Now that we’ve identified the problem, let’s consider a workable solution.
Nothing is free in this nation, nor anywhere else, for that matter. And EVERY government runs on taxes, and has done so at least since the time of the Roman empire. And face it… if the Romans built aqueducts and roads that have lasted for at least 2000 years, we can too – and should.
Simply put, income tax rates WILL Read the rest of this entry »
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