Why the U.S. Manufacturing Industry has shrunk to its lowest percentage revenue level of GDP
Apr 7, 2021
Washington, D.C, District of Columbia Apr 7, 2021 (Issuewire.com) - Why the U.S. Manufacturing Industry has shrunk to its lowest percentage revenue level of GDP and how to create a supportive financial environment
The United States economy is in a downward spiral. Our national debt is now above 28 trillion dollars, with the national debt at 108% of Gross Domestic Product. In January, we had the most significant trade deficit ever recorded for a single month at 68.2 billion dollars. Our manufacturing industry is now at its lowest level ever recorded in modern times. The cause is we do not have a supportive financial system for manufacturing.
The linked document will explain the cause of the decline of the U.S. manufacturing industry. The principal reason for the slide is the high-cost healthcare industry. It will review several unlawful practices of the healthcare providers and insurance companies and how the law enforcement agencies failed to protect us. The article gives details about the last four decades of the health care industry's growth and then the effect of COVID 19. The article touches upon U.S. Debt to GDP ratio and its impact on future infrastructure investments in our country.
The article is precise and understandable, written for non-legal, non-financial, and non-accountants. The article discusses the two different required accounting methods, the very lax IRS audit procedures of the government business accounting and the private business accounting, the unrecognized kickback payments, the differences between cash and accrual accounting, the tax code requirements of GAAP, the unlawful contracts calling for price discrimination, and other tax problems.
Overall an interesting read and eye-opener with factual data point to support arguments. Then it establishes a conclusion about how to stop the decline and build a supportive financial environmental system to rebuild the manufacturing industry in the U.S.
The present financial system makes employers pay for social and healthcare benefits before they sell their services or products. The new system allows them to sell their services and goods, make a profit and then take a small amount to cover the costs of social and healthcare benefits.
Follow the link for a full write-up
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Source :Roy J. Meidinger
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