With over $2.7 Trillion on imports each year, a 20% across the board import tariff balances the budget tomorrow.
Riiight, and what do you think that massive tax hike on all Americans will do to the overall economy? Expect the next Great Depression with businesses shuttering due to consumer spending collapsing, layoffs, massive welfare roll increases, foreclosures, bankruptcies...the reduction in other tax revenue and increase in welfare will probably more than cancel out the 20% tax.
“With over $2.7 Trillion on imports each year, a 20% across the board import tariff balances the budget tomorrow.”
Sure, if consumers were robots unable to alter their behavior in the face of massive price increases...
More taxes to balance a budget that is intrinsically nonsense? No, you balance a budget by cutting spending, something loath to the uniparty. A tariff is just a tax on everyone with Washington reaping the windfall that will never be enough to quench the bureaucracys insatiable lust for power and money. Freeze spending and start eliminating federal ABC agencies one by one. That is a start.
Yes! Because we need to give Obama another $540 billion to spend.
By taking money out of the pockets of the consumers who must pay it?