To: Kaslin; Toddsterpatriot; 1rudeboy; expat_panama; 1010RD
Protectionist tariffs remained the bedrock of economic policy of the Republican Party for the next 20 years. Indeed, Republicans were so intent on passing the Payne-Aldrich tariff in 1909 that President William Howard Taft supported the 16th Amendment to the U.S. Constitution creating a federal income tax as the political price for Democratic support of the tariff.9 That has to have been one of the worst deals in history a lose-lose situation if ever there was one.
The truth about trade and history
Gotta love Republican, big government protectionists. They've been exporting jobs from American for over 100 years.
12 posted on
10/04/2013 8:34:46 AM PDT by
Mase
(Save me from the people who would save me from myself!)
To: Mase; SeminoleCounty
creating a federal income tax as the political price for Democratic support of the tariff.Actually that makes a lot of sense, more tariff barriers have to mean more income taxes. The reason's should be obvious, that an inport tax is intended to stop imports and that means less revenue. Right now America's raking in the most import tax revenue ever and it's precisely because the rates are so low.
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