Ah, of course you use oil rather than any number of other products. The cost of increases is split between consumers, workers, other countries, and Corp profits. Based on what has happened over the last 30 years it’s safe to say most would come out of Corp profits. Look, I’m all about free trade but it makes zero sense to put massive costs on US businesses and then allow MNCs to skirt them. It also makes zero sense to tax imports 1/35 the tax on US corps. Cut us taxes and regulations and then we can talk about imports. But imports should always be last, just like they were for the first 135 years of our countries existence.
After we agree on who pays the oil tariff, feel free to pick another product.....and explain why it would behave differently.
The cost of increases is split between consumers, workers, other countries, and Corp profits.
I agree with 1,2 and 4. How would other countries pay if the US government put a $50 tariff on imported oil?
Based on what has happened over the last 30 years it’s safe to say most would come out of Corp profits.
Why?
It also makes zero sense to tax imports 1/35 the tax on US corps.
Not sure I agree with your math here.