Reps. Gephardt and Levine are anxious to improve our trade position vis-a-vis Japan and others. One thing they want to do is boost the savings rate. Fine, then stop taxing me on my interest and dividends. I am punished for having savings, which go for investment.
Further, when quoting savings rates in comparison to the Japanese, please do us the honor of including Social Security payments, because those are enforced savings that cannot be applied to investment.
We do not need a Ministry of International Trade and Industry, even if it is called the Advanced Civilian Technology Agency. And when we need our defense interests and our commercial interests to be considered jointly, let the President call them together, as he did in the case of the FSX. Otherwise, let Defense stick to defense and Commerce to commerce.
Rep. Gephardt, pushing these same programs, was rejected as a presidential nominee by the voters. He should allow these sleeping dogs to slumber on.
NORBERT E. TALBERT