To: Oldeconomybuyer
Listen for once. I will use 2010 as an example. Tariff income was $25.2 billion. Total imports in 2010 were $1,912 billion. So the percent of tariff income was 25.2/1912 = .013 or 1.3%. ONE POINT THREE PERCENT. Get it?
My God how many times do I have to do this? Having a tariff on the books means nothing if the duty rate is close to zero percent. Do I have to rub your nose in it like a puppy? Are you mentally impaired perhaps?
137 posted on
12/07/2016 4:05:33 PM PST by
central_va
(I won't be reconstructed and I do not give a damn.)
To: central_va
You said, “We may have 12,000 tariffs on the books but like immigration laws they are ignored...”
That is false. Anyone who believes that is uninformed, misinformed, or perhaps a common idiot.
My point was never what percent of federal government receipts come from tariffs. That’s your rant. I don’t know or care. But a simplistic understanding of kindergarten Economics tells us that higher prices (the byproduct of tariffs) lead to less demand. By the book, it’s known as the “marginal propensity to consume”. Google it.
Honestly. I’m trying to help you.
138 posted on
12/07/2016 4:55:32 PM PST by
Oldeconomybuyer
(The problem with socialism is that you eventually run out of other people's money.)
To: central_va
Sorry, Google “price elasticity” not MPC.
139 posted on
12/07/2016 4:59:19 PM PST by
Oldeconomybuyer
(The problem with socialism is that you eventually run out of other people's money.)
To: central_va
did you hear about the about face on H1Bs?
140 posted on
12/07/2016 8:27:11 PM PST by
TomasUSMC
(FIGHT LIKE WW2, WIN LIKE WW2. FIGHT LIKE NAM, FINISH LIKE NAM.)
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