If American manufacturers could come up with several hundred exciting new product designs manufactured in the United States, that would produce a jump in economic growth. This could be done as follows:
To be eligible for the benefit, craftspersons would be required to sign an agreement that every new product design by them that became manufactured would have to be completely made in the United States. Since the new designs would be protected, no foreign business would be able to use the design, so there would be no danger of being undercut by lower wages outside the United States.
In return for their agreement, whenever the craftspersons sold a handmade product, the customers would be allowed to take the entire cost as a tax deduction. Many customers would actively look for hand made products to buy so that they could obtain the tax deduction.
It is likely that the increased demand would make it easy for many tens of thousands of additional people to get training and begin working as independent craftspersons. With that many craftspersons at work, it is fairly certain that they would come up with many sort-of-nice designs, and a few hundred really exciting designs per year.
As these designs were created, a government program would make sure that businesses knew about the designs. Many if those businesses would probably contract to manufacture the products with the new designs.
If any were not contracted for, the government would supply low interest loans to the craftsperson, or someone else if the craftsperson didn't want to be involved with manufacturing, to start businesses to manufacture the design. To make sure these businesses didn't fail the first couple of years while they were slowly building up customers, the loans would be repaid at a rate of 10% of gross receipts, no matter what gross receipts were. The loan would also be for a building, so the new business would not have to pay rent.
This would work. It is only a matter of whether or not voters would want this to be done.
Jim
To be eligible for the benefit, craftspersons would be required to sign an agreement that every new product design by them that became manufactured would have to be completely made in the United States. Since the new designs would be protected, no foreign business would be able to use the design, so there would be no danger of being undercut by lower wages outside the United States.
In return for their agreement, whenever the craftspersons sold a handmade product, the customers would be allowed to take the entire cost as a tax deduction. Many customers would actively look for hand made products to buy so that they could obtain the tax deduction.
It is likely that the increased demand would make it easy for many tens of thousands of additional people to get training and begin working as independent craftspersons. With that many craftspersons at work, it is fairly certain that they would come up with many sort-of-nice designs, and a few hundred really exciting designs per year.
As these designs were created, a government program would make sure that businesses knew about the designs. Many if those businesses would probably contract to manufacture the products with the new designs.
If any were not contracted for, the government would supply low interest loans to the craftsperson, or someone else if the craftsperson didn't want to be involved with manufacturing, to start businesses to manufacture the design. To make sure these businesses didn't fail the first couple of years while they were slowly building up customers, the loans would be repaid at a rate of 10% of gross receipts, no matter what gross receipts were. The loan would also be for a building, so the new business would not have to pay rent.
This would work. It is only a matter of whether or not voters would want this to be done.
Jim
