Blake Krueger is chairman, CEO and president of Wolverine World Wide explains:
Black Friday shoppers looking for shoes on sale might not realize it, but much of the footwear sold in America would be instantly more affordable if not for a Depression-era tariff that keeps the price of imported shoes artificially high. For the past eight decades, the Smoot-Hawley Tariff Act of 1930 has raised the price of footwear from overseas by as much as 67.5%...
Smoot-Hawley set high tariffs on hundreds of products. In the decades since 1930, many of these rates have been reduced to more reasonable levels, or eliminated altogether. However, footwear tariffs have remained largely untouched. The thriving U.S. shoe-manufacturing sector of the 1930s is long gone, but what remains are protective tariff rates of 37.5%, 48% and some as high as 67.5%.
Isn't it funny how government intervention, no matter how stupid, never seems to completely disappear? Smooth-Hawley is one of the most vilified pieces of economic legislation ever and here it is still in 2012 jacking up the prices of shoes for consumers by perhaps 67.5% with no end in sight.
ReplyDeletethis is a good thing because it will bring shpe manufacturing back into the united states. this is why we the people voted Obama back into office.. and right after we do he brings shoe tarriff to high levels to bring manufacturing jobs back to we the people.
ReplyDeleterepublicans lost, we dont want our jobs outsourced, obama said we would bring jobs back to we the people and hes already delivering.
Not sure if trolling or actually believes this...
DeleteThis is a parody right? Because come on...
DeletePie in the sky... That's what they're delivering .
ReplyDeleteAnonymous @ 6:07 has either never had a job, or received their economic education from mandated curriculum in a public school classroom.
ReplyDeleteSome people are simply unable to process information, it seems.
What is he delivering? I mean, that sounds good. I buy it. But, when I go to New Hampshire again, can you tell me what factories in Newmarket and Dover I ought to stop into to pick up a cheap pair of seconds?
ReplyDeleteThanks!
When I see that our opposition is as illiterate and ignorant as the anon above it makes me confident that the Liberty movement will win. Someone too stupid to see that a law older than their grandparents is hurting us will be hurting once their fantasy of government control is gone.
ReplyDeleteBut an opposition of mindless idiots is still a force to reckon with. I think best chance anyone has is to get out there and educate people. Explain to them that feeling that something isn't right is absolutely correct and tell them why.
DeleteBut an opposition of mindless idiots is still a force to reckon with. I think best chance anyone has is to get out there and educate people. Explain to them that feeling that something isn't right is absolutely correct and tell them why.
DeleteWhat is Robert Reich's shoe size?
ReplyDelete