To: coloradan
The 1st United States Congress, wanting a straightforward tax that was not too onerous and easy to collect, passed the Tariff of 1790. Like all subsequent tariffs it taxed imported goods at their Ports of entry to raise revenue for the federal government. Treasury agents collected the tariff before goods could be landed, and what became the Coast Guard prevented smuggling. Tariffs were the largest (approaching 95% at times) source of federal revenue until the Federal income tax began after 1913. For well over a century the federal government was largely financed by tariffs averaging about 20% on foreign imports. There are no tariffs for imports or shipments from other states.
I have more respect for the 1st US Congress than for a bunch of Benedict Arnold Free Traitors....
34 posted on
02/18/2013 8:14:44 AM PST by
central_va
(I won't be reconstructed and I do not give a damn.)
To: central_va
You are aware that the Tariff Act of 1790 was initially defeated by the first Congress and only went into effect when Madison tacked it on to a Cotton trade act with the Louisiana territory. It then was over-turned around 1817 as it didn’t have the impact they wanted and hurt many of our exporting states (such as getting a retaliatory 100% import tax by the UK on all brown sugar from the US to the UK).
I would suggest reading Examination of A Tract on the Alteration of the Tariff, by Thomas Cooper written in 1824.
57 posted on
02/18/2013 8:46:31 AM PST by
mnehring
To: central_va
That is, of course, regarding a time when there were no income or other taxes; the fedgov was exclusively funded through such measures.
73 posted on
02/18/2013 9:12:02 AM PST by
coloradan
(The US has become a banana republic, except without the bananas - or the republic.)
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