We have imports going through the roof but still nobody would consider putting any tariffs on these products. Even a measly one or two percent tariff on selected goods would bring in billions to the Federal Treasury. Let's make some money on this trade deficit!!
That would just raise prices for consumers and business costs for US businesses. Please educate yourself before listening to someone like Willie Green.
Who do you think pays for the tariff? The American Customer!! You are thinking that taxing Americans and enriching Federal coffers means that "we make money on this"? Ted Kennedy would be so proud of you!!
Tell you what. I'm kind of strapped for cash at the moment. Can you send a check for my share to the Treasury? Thanks in advance.
I seem to recall that by far the bulk of our trade defecit is due to our import of crude oil.
Do you also recommend putting a tarrif on oil imports??
"We have imports going through the roof but still nobody would consider putting any tariffs on these products. Even a measly one or two percent tariff on selected goods would bring in billions to the Federal Treasury. Let's make some money on this trade deficit!!"
I have a much better idea. What about adopting a National Retail Sales Tax (in the form of HR 25, the FairTax bill) and start taxing imports the exact same way that we tax domestic production. When we add a 23% sales tax on to imports, that will be much more effective than a 2% tariff and the WTO and our trading partners couldn't say anything, since we would be taxing imports the same way that we tax our own production.
Most Americans don't even realize that the current tax system provides a bias in favor of foreign producers in our own system. No wonder we have a huge trade surplus!!