More reasons why it is essential to buy American-made AND American-owned:
A 2003 Business Week magazine article stated that “three-quarters of all federal spending goes to Social Security, Medicare, defense, education, farm subsidies, highways, parks, and interest payments on the debt.” Polls show most Americans are against government spending but strongly back these programs.
An April 15, 2017, Wall Street Journal article titled Your Tax Dollars at Work: Social, Troops and the Rest detailed, “Half of all spending goes for Social Security benefits and health programs such as Medicare and Medicaid, while another 20% is for defense and military benefits. The rest is for spending on other agencies and programs, plus interest on the national debt.”
Alexander Hamilton warned us that A nation cannot long exist without revenue.
Whenever our president or congress plans to spend money, whether for infrastructure, the pandemic, or otherwise, the first question is always “how are we going to pay for it?”
Buying American-owned and American-made will bring hundreds of billions of dollars into our economy. Profits made by American-owned companies come back to America to reward American owners, investors, and stockholders, who pay taxes to the U.S. Treasury. Conversely, profits made by foreign-owned companies (even those who make some of their products in the USA) are sent overseas to reward foreign owners, investors, and stockholders, who pay taxes to foreign treasuries.
You can visit our Is Your Brand American? page to see examples of how to buy not just American-made, but also American-owned!