I know it won't work but because we've been screwed for so long it is an appealing idea.
Our government has been happily subsidizing corrupt and profligate foreign governments for a long time running.
Our so-called law makers continue to screw the voters. Thankfully, the Trump administration has a different mindset.
I’d love to hear Dave Ramsey’s take on this
So in 2016 we imported $2.3 Trillion. If you slap a 40% tarriff on that, you get $920 billion in tariff revenues a year. That will pay the interest plus a decent principle payment on the national debt.
At the same time, that will start to shift the jobs back from overseas. Which means more people working. As people go back to work, it means fewer import tariffs but even larger income tax revenues.
Now people are earning money to spend into the US economy. We are making more products so there are more corporate tax revenues. We have more people earning money, paying income tax, Medicare tax, SS tax.
And now you are having to pay as much to support the unemployed. State and local communities are getting more revenues too, from sales tax, property tax, and income tax.
Property values soar, stock markets soar, incomes soar, household debt is reduced. National debt is coming down. interest rates lower as government demand for debt drops.
Now people are paying less interest again.
That’s how you get out of this.
That’s what was wrong with Ryan’s budget. He had no vision. He didn’t address the economy at all. He just wanted to cut medicare, medicaid and social security to put a bandaid on it while our jobs were still fleeing the country.