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To: DannyTN

I think that high tariffs have been tried...it was a leading factor of the Depression.

It is frustrating to see companies move overseas. I really think that is due to high corporate taxes, unions and the “we want $15 an hour” crowd.

As long as we are here in this country, it is not illegal to move your company out of the country for profit.


25 posted on 09/26/2015 11:58:45 PM PDT by berdie
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To: berdie
"I think that high tariffs have been tried...it was a leading factor of the Depression."

No it wasn't. We had high tariffs the first 180 years of this country and it served us well. We entered the Roaring 20's with tariffs of about 20%. The smoot-hawley tariff wasn't passed until 1.5 years after the depression.

At the time imports were equal to 5% of our GNP and exports were 4% of GNP. Exports simply weren't big enough to have a major impact on our economy. Industrial production dropped 50% during the Great Depression. Exports just weren't significant in that number.

Tariffs in United States History

Today imports are equal to 16% of our GNP. We are way too dependent on foreign countries for manufactured goods and even military parts.

Our tariffs are so low that they actually provide a tax incentive to off shore, as if the wage differentials were not enough. The price of those cheap imports don't reflect the taxes that domestic producers contribute, the cost of supporting unemployed Americans, or the opportunity cost of not having Americans working earning salaries, paying taxes and spending their earnings into our economy.

50 posted on 09/27/2015 9:53:16 AM PDT by DannyTN
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