Posted on 08/26/2015 5:47:02 PM PDT by WilliamIII
Here's a historical fact that Donald Trump, and many voters attracted to him, may not know: The last American president who was a trade protectionist was Republican Herbert Hoover.
Does Trump aspire to be a 21st century Hoover with a modernized platform of the 1930 Smoot-Hawley tariff that helped send the U.S. and world economy into a decade-long depression and a collapse of the banking system?
(Excerpt) Read more at cnbc.com ...
Both Moore and Kudlow KNOW the answer: FairTax!
I devoutly wish that someone with Trumps’ phone number would call him and convince him that the ONLY action America has to do to fix the trade imbalance is shift to a border adjustable tax system — the FairTax.
And then, if it comes to it, match ANY foreign country’s tariff scheme — “If you put tariffs on our goods, we’ll do the same to your goods.”
Problem solved.
FRom the FairTax FAQ web site at https://fairtax.org/faq#faq-5499bf7f2017a864640004f7
“How does this affect U.S. competitiveness in foreign trade?
“Because the FairTax is automatically border adjustable, the 17 percent competitive advantage, on average, of foreign producers is eliminated, immediately boosting U.S. competitiveness overseas. American companies doing business internationally are able to sell their goods at lower prices but at similar margins, and this brings jobs to America.
“In addition, U.S. companies with investments or plants abroad bring home overseas profits without the penalty of paying income taxes, thus resulting in more U.S. capital investment.
“And at last, imports and domestic production are on a level playing field. Exported goods are not subject to the FairTax, since they are not consumed in the U.S.; but imported goods sold in the U.S. are subject to the FairTax because these products are consumed domestically.”
Hoover had allot to do with the Depression. He would not stop tinkering with the economy, The problem is that FDR was worse. He was Hoover on steroids.
Calvin Coolidge had him as his Commerce Secretary and he always said Hoover gave him continuous recommendations about the economy, all of it bad.
No way to choose....there are about 75 of them around here to go to that mindless childish infantile rant.
which is why I recognize it in you....LOL
Yes, LOL.
Tariffs are, at best, a band-aid, and come with a lot of negatives. I’d say it was like taking antidepressants to treat the symptoms instead of dealing with your problems that are making you depressed.
What we really need is to address the underlying illnesses of our economy, find the root causes and fix those. I’d say those are mostly in the government and financial sectors, so tariffs won’t fix them.
Ditto.
I seem to recall a revolution started because of increased taxes on imported goods.
Somebody had to say it Megyn. :-)
“Do they really think that Trump doesn’t understand economics?”
From the comments I’ve heard from Trump so far, it is clear that he does NOT understand economics, from a nation state perspective. If Trump were to enact the type of policies he is espousing, get ready to pay a LOT more for certain types of products. Playing with protectionist tariffs is tricky business.
There were roughly 100,000,000 otherwise eligible American citizens who did not vote in 2012, for many different reasons.
Those are the voters that need to be energized to get off their asses and vote in 2016.
Trump seems to be speaking to them.
“I love it when stupid little chicks - or bitter old hags”
The moment I know I have once again bested you in an argument. Thanks for playing. :-)
Kudlow doesn’t understand negotiations.
He is no different from the peaceniks who think disarmamant is what leads to peace.
You are spot on! Enough of the BS from the Washington Cartel and their bloviator media lackeys!
Kudlow, the mouthpiece of the ruling elite.
Trump is well aware and has discussed in recent interviews that the corporate income tax is too high in this country and has to come way down. That will help level the playing in the US.
Everybody with an 8th grade education in the country realizes that China manipulates its currency beyond belief and we never do anything about it. Trump has repeatedly stated over the years that he will never have to actually put a tariff in place. Just the threat of it will make them straighten up. I believe he is probably right about that.
Trump is also right that everyone of our trade deals need to be re-negotiated as they are way too skewed toward the trading partner/partners if you can even call them that. More like trading leeches. That’s not free trade that’s stupid trade.
At this point, I think Trump should carefully and accurately weigh public opinion on the subject and develop his policy from the standpoint that generates the most votes in the most battleground states. I don’t see this as being a central plank in the conservative platform. I think we can quietly bend here, pick up much needed votes, and not really compromise on any of our core values. It’s just not a big deal to me either way. Winning is a big deal.
Well I know or rather I read that Trump is huddling with Steve Forbes and Art Laffer to formulate his economic and tax policy paper. It doesn’t get any better than that. IMO.
agreed. And it will be nice to give the press something to feed on besides illegal immigration. A carefully crafted economic plan could seal the deal for Trump IMO.
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