I thought you said that in post #7?
besides a tariff on outsiders makes far more sense than taxing the US base
you agree that the government needs *some* taxes, right?
Sure.
Personal income taxes, corporate income taxes, property taxes and tariffs.
And sales taxes.
The first 3 100% of the burden is borne by US citizens. The last (tariffs) is partially borne by US citizens and partially borne by outsiders.
Outsiders suffer from loss of sales, sure. It's still Americans paying the tax.
Therefore, logic would dictate tariffs should be the first tax we add to cover the budget since at least some portion effects others (we could argue the % all day)
Tariffs aren't very good at raising revenue. The best ones would be ones you can't avoid. Do you agree? So one on oil could raise a lot of revenue, right?
For the first 150 years of our nations existence, that's exactly what we did.
Yes, everyone knows that tariffs and excise taxes on alcohol raised most of the revenue in our early history. If we could shrink the government by 90%, we could probably go back to that system. I don't suggest we hold our breath.
Sigh. Not all of the loss would be borne by US citizens. Some of it would come from margin compression from the foreign entity. Whether that’s 1% or 99% would depend on the item in question. You seem to think it’s closer to 0% would be borne by margin compression for the foreign entity. I think with the exception of oil, at least 40% would come from margin compression for the foreign company and we can use the taxes gained from the tariff to offset the higher prices by cutting personal and business taxes. I’m not suggesting we could raise $3+ trillion from tariffs, but I think we could probably pull our US corporate tax rate down to 0-5% with tariffs. And yes, I’d love for our federal government to shrink 90%.