I would recommend we get together and all agree on some sort of base tax on imports.
The tax would only be charged on imports.
Nothing made in America would be taxed. At all. Not one penny.
But all imports, would pay a tax. An IMPORT tax.
That tax would accomplish two things: First off, it would help our government get its financial act together.
And it would encourage companies to bring back jobs to America.
Americans making money, would improve our economy.
It is time.
Well, thanks for voicing your idea for a solution. It's the right step to get people talking about the fix instead of the problem.
That said, it's a punitive solution that would prompt a similar punishment on exported American goods by foreign countries.
That's a lose-lose situation for all concerned. If U.S. exports drop off because of punitive tariffs imposed by other countries, it follows that manufacturers will have to downsize their domestic production because of it - and there go the jobs you were trying to save.
I think a better plan is to reduce U.S. federal taxation on domestic manufacturers. Significantly. A carrot versus a stick approach - you know? Reward business for keeping jobs here by lowering their operating costs and returning more to their bottom line.
If there are more people working, more dollars will flow to the feds through income taxes. It actually works better than raising taxes on the productive sector, which just causes them to contract and look for ways to shelter their money. Such as sending jobs overseas...
Do the names Fordney/McCumber and Smoot/Hawley mean anything to you? How did that work out for us?