Protectionism makes no sense. It promotes over priced, low quality goods because it stifles competition.
Higher taxes and government control over what we purchase is not a path to prosperity.
Yea Free Trade works so well we only have fraction of the steel industry we had 50 years ago, a small fraction. We have 22 right to work states in this country and several have very low taxes. We need to save what is left of our manufacturing base. A 10% tariff would be in order.
“Higher taxes and government control over what we purchase is not a path to prosperity.”
Ditto that. We know what a controlled, regulated economy looks like because we live in one. Do we know what to compare this with?
Who on this board has lived in an uncontrolled, unregulated economy? I have, in Iraq shortly after liberation for over 3 years. Capitalism is the default economic system in the absense of government. I saw it first hand in Iraq. Mercantalism and Johnny-on-the-spot go-getters moved ahead quickly in a totally free environment.
The miracle growth of underdeveloped countries, including China, isn’t slave labor or totalitarianism or corruption. It is the abundance of cheap labor and lack of government control. The same conditions in which America developed and prospered from 1850 - 1950.
A vibrant economy and middle class were created in the absense of government control.
With the imposition of governmenet controls both the economy and the middle class have been ruined.