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To: DannyTN
There won't be significant increases in domestic prices due to a tariff increase.

Right. Because when foreign oil goes up 10%, domestic oil goes up 10% as well.

Taxpayers would have on average $1500 from lowered taxes

Workers would, retirees, not so much.

to pay the increase costs of imports, if they choose to continue buying imports.

And if they only buy domestic goods, which also went up in price, you'll send them your $1500?

If a domestic product exists that currently competes against an import, then conceivably that domestic product could raise it's prices.

LOL!

42 posted on 01/29/2014 2:30:13 PM PST by Toddsterpatriot (Science is hard. Harder if you're stupid.)
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To: Toddsterpatriot
"Right. Because when foreign oil goes up 10%, domestic oil goes up 10% as well. "

Not necessarily, you see oil prices falling now because prices went up too much and stimulated new exploration and new drilling techniques.

But in your worse case scenario 10% price incrase * 1% (the percent of GNP that oil makes up) = 0.1% general price increase.

Workers would, retirees, not so much.

Again the general price increases would be less than 1.4%. Less than 1.5% including your worse case oil scenario. But then Social Security increases are tied to inflation, so retires would be protected. And the boost to the U.S. economy would result in capital gains in any investments the retirees held. So I think they would fare pretty well.

And if they only buy domestic goods, which also went up in price, you'll send them your $1500?

Don't be stupid. I'm not sending anybody anything. But the government no longer be taking their $1500 through the income tax. So that's a pretty conservative plan. Americans keeping their hard earned dollars. And foreigners having to pay access to our market. That's what the founding fathers did and it worked well for this country.

The free traders have 100 million Americans on food stamps. Y'all are the biggest enablers of big government around.

45 posted on 01/29/2014 2:52:38 PM PST by DannyTN (A>)
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