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To: 1rudeboy
"You are promising me that the federal government, in its infinite wisdom and noble intentions, will increase government revenue by raising taxes on the private sector."

Not on the private sector, on imports. That's not a promise it's a definition of a tariff. Gov't revenues will go up immediately and then as the jobs shift back here, tariff revenues will fall but income taxes will dwarf the tariff revenues.

That's not a promise to pay later. That has an immediate positive impact on our nation's health.

But I see your point. It's all about YOU and all about right now. Nevermind your fellow American or the nation's health. You might have to pay a higher amount today for imports, if the Chinese don't absorb the cost. And today you're not having to currently pay for the unemployed, because the nation is borrowing from China to do that. So yeah, I guess I am promising that you'll benefit in the future by having less debt to pay off by paying more for imports now. But only because the true cost of our unemployed today is buffered by ever expanding government debt. If it wasn't for that buffer, you'd see an immediate improvement from import tariffs.

29 posted on 11/13/2012 3:27:11 PM PST by DannyTN
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To: DannyTN
Yup, just selfish: I failed to grasp right away how you, and the federal government, can solve our country's economic ills by raising my taxes, whether on an import I buy or indirectly when the import's domestic competitor raises its own price as a result.*

_____
*Economic Myth #19 explained

31 posted on 11/13/2012 3:42:32 PM PST by 1rudeboy
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To: DannyTN

I could go along with revenue raising tariffs, but protective tariffs just hurts overall competitiveness.


32 posted on 11/13/2012 3:42:53 PM PST by Cheap_Hessian (I am the Grim FReeper.)
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