Posted on 11/08/2017 7:28:05 PM PST by Mariner
Corporate tax cuts are the key to this package and the economy. Without that the entire package is next to useless. I hope Trump tells them to go to hell and campaign against them in their primaries.
That’s actually not a bad idea. Even if it ends up at 25%, give the Dummies a little of something.
The initial tariff was a Revenue tariff designed to fund the government at a time when the nation had no money supply. Protection of war industries was also a goal.
The US is demonstrating the “Export Cycle” wherein a country creates a new industry and remains the sole source for it for a period of time. Then economics and the cost of labor dictate that the production of the good seeks the lowest cost producer. First American industry moves production offshore. Then the technique for that production becomes widespread and new industries arise in the foreign country to produce it.
This is inevitable and starts all over again with new commodities.
We lead the world in innovation and one of the reasons is there is no protection of obsolescent industries by a tariff. With a level playing field we can compete with anyone. Escaping competition leads to stagnation then regression.
This does not even address the massive growth of federal power and the fact that Congress sets the tariff rates. Open the floodgates for even more corruption than there already is as industries lobby for favorable treatment by the tariff.
'cause its their money dontcha know?
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