Posted on 01/14/2025 9:06:37 AM PST by mbrfl
Donald J. Trump
@realDonaldTrump
For far too long, we have relied on taxing our Great People using the Internal Revenue Service (IRS). Through soft and pathetically weak Trade agreements, the American Economy has delivered growth and prosperity to the World, while taxing ourselves. It is time for that to change. I am today announcing that I will create the EXTERNAL REVENUE SERVICE to collect our Tariffs, Duties, and all Revenue that come from Foreign sources. We will begin charging those that make money off of us with Trade, and they will start paying, FINALLY, their fair share. January 20, 2025, will be the birth date of the External Revenue Service. MAKE AMERICA GREAT AGAIN!
Makes sense to me. What we need to do is as follows:
- Identify core laws that impact our ability to compete (like environmental laws, worker age laws, worker rights, etc...
- Then apply those requirements to all nations wishing to trade with the USA. If they do not meet those standards we tax them the amount it would add to those products if they followed those regulations.
- Or we remove those regulations from the USA.
An interesting plan. To be fair, I think in many ways our trading partners are already paying us due to our monetary policy and the US Dollar being the world’s Reserve Currency.
Still, a good idea and one that should be coupled with eliminating and reducing our foreign aid and support of the UN.
I think it’s a great idea. If the regulations are valid, every country that wants to sell goods to Americans should have to meet those same regulations or get rid of them.
I’d say he’s been talking to Kevin O’Leary.
I’m in favor of tariffs to help financially balance trade initially, then domestic production requirements and a blocked currency.
The tariffs might be based on:
1. product necessity[0%(drug, raw material, industrial level component of product with no domestic source) total, or 10%],
2. industry wage differential[0-20%, 2% per dollar, as estimated by Secretary of Commerce, levied if country not poor],
3. latest 12-month cash flow imbalance computation[by percent, 0-10% all country, 0-20% source country industrialized],
4. 12-month exchange rate change[proportional to 10%, up to 10% reduction, but to not less than 10% tariff],
5. domestic producer profitability[percentage less than 10%; excess above 10%, up to 5% reduction, but to not less than 10% tariff], and
6. trade imbalance[0-20%] with a country.
Take one-half the staff from the IRS and assign them to the ERS.
If GEOTUS keeps this up, the Democrat party will be reduced to 20% (not including fraud) of the electorate.
Great idea. I have no doubt that foreign governments and business interests have been taking the US for a ride for a long time.
I would call it the Extreme External Revenue Service. Just to piss off some people.
1. It will take Congressional legislation?
2. Will real Conservatives back the creation of another expansion of the federal bureaucracy? Liberal lawyers will love all the new chances for writing the new tariff regulations, as determined by legislation slipped into the bills authorizing the new agency. Step after step of the expansion of the administrative state Conservatives have often given that expansion an inch while requiring Liberal votes to achieve that, which has added a miles of Liberal intent into the workings of the new agency.
3. The direct payment burden for a tariff falls on the U.S. domestic entity that imports the goods to wich the tariff applies, not the foreign country or company that exported the goods. It is a cost to the importer. Only if - or in as much as - the importer can demand a lower payment to the exporter, does the exporter have to cover some of the cost of the tariff. The only other direct cost to the exporter is if the tariff winds up reducing how much the importer will take their goods. ONLY then is there any cost to the exporting country, to its economy. The actual degree foreign countries and their exports will be impacted by tariffs on any of their goods is an open question and would only be known after some period the tariff remains in affect.
An ERS falls right in with common sense. Bring it on!
Find idea, but he can go further.
Most don’t realize other countries do NOT tax income made from abroad. Taxing citizens working/ living overseas is wrong.
“The chief business of the American people is business.”
For 120 years there was no such thing as
Income tax
Yes.
There should be two essential regulatory frameworks, that of the EU and that of the USA.
All countries wishing access to Western markets must accept by calendar year with at least 90 days’ notice of change at least one of those frameworks for goods and services, with limited exceptions to the framework agreed to, or compensated for by a tariff based on economic market share in the framework market.
If something can be sold in most of the USA or Europe, it can be sold elsewhere.
We do not need a new service to perform this. It will just be another government make work program with too many employees.
Income tax passed by Congress 1862, repealed 1872. Slightly graduated, 3% starting, top rate, 5%. Unpopular, but the idea stuck in politicians minds.
Ok, but for every bureaucracy created, one needs to be dismantled. Want the ERS? Then disband the IRS.
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