Senator Fritz Hollings

 July 16, 2013 The tall, stately bearing….the shock of white hair….the quick-wink humor….that voice….it can only be our former Governor and Senator Fritz Hollings.  This truly remarkable South Carolina political icon who never fails to enlighten, entertain, agitate and amaze, wowed the Rotary crowd with his astonishing recall and mastery of complex economic facts and figures, both current and historical.

Andy Brack introduced our nationally recognized speaker, noting that the Senator had taught him long ago to always “do your duty” and to “engage in lifelong learning.”  Immediately upon taking the podium, Senator Hollings expressed his exasperation over the lack of effective Congressional and Presidential action addressing the US economic condition, noting that “we’ve got a hole in the economy boat” and positing that it has been long-term policies supporting free trade that have caused it.  In fact, says our 6+ term Senator, the only thing that Congress and the President can agree on is “off-shoring our economy” by resisting policies of protectionism.  Recalling that the founding of the United States occurred during a trade war (the Boston Tea Party), Sen Hollings stated that trade wars are a constant and continuing fact of international economic life. Only through dynamic and unyielding enforcement of existing legislation and regulation such as the 1950 Defense Protection Act to protect new American technology, processes and manufacturing can we re-gain and re-grow our once unparalleled manufacturing base.  Sen. Hollings believes that had effective and targeted protectionism policies like President Reagan’s in 1984, been enforced during the last 2 Presidential administrations, Detroit would have been saved without a federal bailout.  “Thank God I’m not a free-trader,” said Sen. Hollings, channeling President Teddy Roosevelt.

Sen. Hollings believes that the quickest most impactful approach to reducing the federal deficit and spurring economic growth would be the elimination of the 35% corporate tax, replacing it with a 7% Value Added Tax (VAT.)  Noting that last year’s corporate tax generated $236 billion in revenues, Sen. Hollings claims that the VAT he describes would have produced over $900 billion and that if implemented, future VAT revenues could balance the budget in 2 years instead of ten.

For most of us, Sen. Hollings has been a life-long fixture in national and SC politics, leadership and discourse, always well armed with facts, figures and with an unmistakable gift of oratory and persuasion.  At  91,using no notes,  citing more specific information than most of his audience could follow, Sen. Hollings proved that he has well followed the advice he gave Andy Brack so many years ago. Clearly, 60 years of public service has only improved Fritz Hollings’ razor sharp intellect, dedication and charm.
Submitted by Cheryl Kaynard, Keyway Committee