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Trade Deficit Tax Losses Violates Constitutional Law
- 1. Violates Constitutional Law Dr. Alec Feinberg Author of the Book The Truth of the Modern Recession And Founder of the website: www.CitizensForEqualTrade.org Email – ModernRecession@Comcast.net Trade Deficit Tax Losses April 26, 2010
- 9. May 1, 2010 Page FREE TRADE The Good, The Bad, & The Ugly
- 22. US Trade Deficit May 1, 2010 Page 2008 Year U.S. Service Trade Surplus U.S. Goods Deficit Billions $ U.S. Overall Deficit Billions $ 2000 79.6 -459.20 -379.60 2001 69.7 -436.70 -367.00 2002 67.4 -491.70 -424.30 2003 60.2 -559.50 -499.30 2004 65.8 -681.20 -615.40 2005 83.3 -796.90 -713.60 2006 93.3 -850.60 -757.30 2007 128.1 -836.00 -707.90 2008 162.9 -832.10 -669.20 Total 810 -5944 -5134 Country/ Area Deficit in Percent China 39% NAFTA 21% OPEC Nations 22% Others 18% TOTAL 100%
- 23. Trade Deficit In Billions of Dollars May 1, 2010 Page China, Japan, NAFTA, Others www.census.gov/foreign-trade/balance/ In Billions of Dollars NAFTA Year China Japan Mexico Canada Others Total 2009 $226.8 $45 $48 $20.2 $38.6 $378.6 2008 268 74 65 78.3 210.6 695.9 2007 258 84 75 68 216.4 701.4 2006 234 90 65 72 299.4 760.4 2005 202 83 50 78 302.3 715.3 2004 162 74 45 67 261.9 609.9 2003 124 66 40 52 213 495 2002 103 70 37 48 163 421 2001 83 69 30 53 130.5 365.5 2000 84 82 24 52 137.8 379.8
- 24. Trade Deficit In Percent May 1, 2010 Page China, Japan, NAFTA, Others www.census.gov/foreign-trade/balance/ Year China Japan Mexico Canada Others 2009 59.9% 11.9% 12.7% 5.3% 10.2% 2008 38.5% 10.6% 9.3% 11.3% 30.3% 2007 36.8% 12.0% 10.7% 9.7% 30.9% 2006 30.8% 11.8% 8.5% 9.5% 39.4% 2005 28.2% 11.6% 7.0% 10.9% 42.3% 2004 26.6% 12.1% 7.4% 11.0% 42.9% 2003 25.1% 13.3% 8.1% 10.5% 43.0% 2002 24.5% 16.6% 8.8% 11.4% 38.7% 2001 22.7% 18.9% 8.2% 14.5% 35.7% 2000 22.1% 21.6% 6.3% 13.7% 36.3%
- 25. China’s Trade Surplus Leads to GDP Growth May 1, 2010 Page Year China Population (Billions) China Pop Growth Since 2000 GDP per Capita China in U.S. dollars China GDP Growth in % Billions GDP China 2000 1.26183 0.00% $3,800 7% 4800 2001 1.27311 0.90% $3600 8% 4500 2002 1.28430 1.78% $4600 8% 6000 2003 1.28698 2.00% $4400 8% 5700 2004 1.29885 2.94% $5000 9.1% 6449 2005 1.30631 3.53% $5600 9.1% 7262 2006 1.31397 4.13% $6800 10.2% 8883 2007 1.32185 4.76% $7700 10.7% 10170 2008 1.33004 5.41% $5300 11.4% 7800
- 26. U.S. Trade Deficit Leads to GDP Contraction May 1, 2010 Page Year U.S. Pop (Billions) U.S. Pop Growth Since 2000 U.S. GDP Per Capita in dollars U.S. GDP in Billions U.S. GDP Growth in % 2000 0.2756 0.0% $33900 9255 4.1% 2001 0.2781 0.9% $36200 9963 5% 2002 0.2806 1.8% $36300 10082 0.3% 2003 0.2903 5.4% $37600 10400 2.45% 2004 0.2930 6.3% $37800 10990 3.1% 2005 0.2957 7.3% $40100 11750 4.4% 2006 0.2984 8.3% $41600 12310 3.2% 2007 0.3011 9.3% $44000 13130 3.2% 2008 0.3038 10.3% $46,000 13860 2.2%
- 33. May 1, 2010 page / TRADE DEFICIT TAX (TDT) LOSSES!!
- 38. Trade Deficit National Debt 1990 - 2009 May 1, 2010 Page Year Annual Trade Deficit in Trillions $ Cumulative Trade Deficit in Trillions $ National Debt in Trillions $ Cumulative National Debt in Trillions $ 1990 0.081 1.01 + 0.33 3.21 1991 0.031 1.04 0.39 3.6 1992 0.039 1.08 0.4 4 1993 0.070 1.15 0.35 4.35 1994 0.098 1.25 0.29 4.64 1995 0.096 1.35 0.28 4.92 1996 0.104 M1 1.45 0.26 5.18 1997 0.108 M1 1.56 0.19 5.37 1998 0.166 M1 1.73 0.11 5.48 1999 0.265 M1 1.99 0.12 5.6 2000 0.380 2.37 0.03** 5.63 2001 0.366 M1 2.74 0.14 5.77 2002 0.422 M1 3.16 0.43 6.2 2003 0.495 M1 3.65 0.56 6.76 2004 0.610 M1 4.26 0.59 7.35 2005 0.715 M1 4.98 0.56 7.91 2006 0.760 M1 5.74 0.54 8.45 2007 0.701 M1 6.44 0.5 8.95 2008 0.696 7.14 1.04 9.99 2009 0.37 Est. 7.51 Est* 2.1 Est. 12.1 Est.
- 39. National Debt and Free Trade Deficit Per Year May 1, 2010 Page Graph shows interesting correlation – (See section on trade deficit)
- 40. Correlation Analysis From Data: Model for well behaved years - 1996 and 2007 May 1, 2010 Page
- 59. May 1, 2010 Page