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To: NormsRevenge
For instance, Thomas Paine, the fiery orator of our revolution, argued that free trade was deducible from the principles "on which government ought to be erected,"

During enactment of The First Federal Revenue Law, James Madison declared that Congress must "remedy the evil" of "the deficiency in our Treasury." He argued that "[a] national revenue must be obtained," but not in a way "oppressive to our constituents." He then proposed that the House adopt legislation, virtually identical to the unimplemented Confederation tariff, imposing a five-percent tariff on all imports...
A single, uniform tariff, he insisted, was consistent with the principles of free trade.

Making protectionism even worse is that its transfer of wealth from American consumers to American producers is a negative- sum game.

This erroneous and irrational statement fully discredits the author of this article.
He schizophrenicly assumes that Americans can be consumers without being producers. And he totally ignores that it is in the value-added, goods-producing sectors of our economy that wealth is created.

4 posted on 12/29/2003 1:17:25 PM PST by Willie Green (Go Pat Go!!!)
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To: Willie Green
You said it, Willie. SO happens that American "producers" also employ American consumers...
7 posted on 12/29/2003 3:00:14 PM PST by ninenot (So many cats, so few recipes)
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To: Willie Green
He schizophrenicly assumes that Americans can be consumers without being producers.

There's nothing in there indicating Americans shouldn't be producers.

And as has been pointed out to you, value-added is essentially an accounting concept, not an economic concept. Anything that is produced goods or services, has a value equal to its price. Period.

9 posted on 12/29/2003 3:07:34 PM PST by lasereye
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