Well either Trump is going to be on Mt Rushmore or by the 2028 convention the GOP will act like he’s not even President like they did with W in 08. There isn’t much of an in between anymore.
I kinda lean towards this working out but we shall see.
Sorry, but “balancing global trade” is a myth and not a valid economic goal at all.
“The Wealth of Nations” is found in the voluntary cooperation between buyers and sellers in the marketplace FREE from gov’t interference, as Adam Smith wrote in 1776 and America demonstrated in the 1800’s.
Miller nails it.
I wish they would point out that our factories went overseas because there are no governmental controls on the factories overseas. Not only can those factories pay slave wages. Not only can they hire children with no workers comp, no limit on hours worked. And no benefits our workers get. But they pollute up a storm. And if the factory itself does not pollute it will attach itself to a coal burning electric grid that will fill the skies with smog and CO2. The democrats somehow think that if they don’t see the pollution its not there. No company is green if their product is made in a third world country.
To have a level playing field American producers need tariff percentages to compensate for:
1. the PPACA
2. defective lifestyles
3. overly expensive education (and property taxes)
4. excessive environmental regulations in the US
5. excessive environmental shortcuts in China, etc.
6. comparatively high prescription drug pricing
The PPACA isn’t going away. These was no PPACA in Adam Smith’s day.
American teachers are not going to be as productive (i.e. class size + results) as those in China. American teacher productivity has fallen in half in the past 60 years.
Note that all but one is to compensate for faults in the USA.
The need for a baseline US tariff is not something foreigners can avoid by their own reforms.
What matters to an American exporter is the tariff of the country.
What matters to the federal government is the trade deficit with the country.
When a nation runs trade deficits year after year, the government must resupply money to its residents so the Chinese, Japanese and Koreans and their central banks don’t wind up with nearly every dollar in existence.
The US resupplies this money by deficit spending such as public works, weapon system boondoggles and by handing out money and other freebies.
The national debt and the percentage of Americans getting federal handouts have grown too high.
The trade deficits have created enormous problems, social, political and economic.
Trump is trying to reduce trade deficits by nation so people have jobs instead of an incentive to vote for candidates promising more freebies.
ping