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To: yefragetuwrabrumuy
There has never been an adequate way of funding the USG, even a very limited federal government. It is a problem that goes back to the founding of the US.

Yes there is a way. The VERY first law signed by President Washington was the Tariff act of 1789.

Whereas it is necessary for the support of government, for the discharge of the debts of the United States, and the encouragement and protection of manufactures, that duties be laid on goods, wares and merchandise:"[1]

Free Traitors love income taxes and hate tariffs. I screw 'em. If they want to off shore production then they need to pay to play.

30 posted on 01/19/2015 5:57:54 AM PST by central_va (I won't be reconstructed and I do not give a damn.)
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To: central_va

Exactly! Taxes at our water’s edge get foreigners to pay for the privilege to do business on American soil, just like a fee is required to sell one’s products at a flea market!

JWK


32 posted on 01/19/2015 6:08:57 AM PST by JOHN W K
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To: central_va
Yes there is a way. The VERY first law signed by President Washington was the Tariff act of 1789.

The total value of U.S. imports in 2013 was $2.25 trillion. That same year U.S. non-discretionary spending alone was $2.54 trillion. So the U.S. could have placed a 100% tariff on everything imported and it still would have run a deficit of over a trillion dollars.

33 posted on 01/19/2015 6:12:52 AM PST by DoodleDawg
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To: central_va

Okay, let’s crunch the numbers, assuming a 50% tariff, as it was for most goods in the beginning.

The USD value of all goods and services imported into the US in 2013 was $2,770,400,000,000. Let’s say $2.77 trillion.

50% of that would be $1.385 trillion, assuming all exporters could afford to continue to export to the US. If so, that is less than the current (2013) US budget of $2.74 trillion.

On the strongly plus side, most exporters would be unable to sell in the US for 50% more, so would no longer export to the US. This would require that the US rebuild much of its industry to provide us with the goods and services we wanted.

In turn, our export industries would be wiped out because foreign nations would no longer be able to afford our goods. The US would probably have enormous inflation.

The bottom line is that it might be good for the US in the long term, but it would be very painful to us to get to a new state of economic equilibrium. So it would have to be planned very methodically.


45 posted on 01/19/2015 8:47:58 AM PST by yefragetuwrabrumuy ("Don't compare me to the almighty, compare me to the alternative." -Obama, 09-24-11)
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