You have a choice of tariffs OR rolling back taxes and regulations. Various politicians will promise you tax cuts and regulatory relief somewhere down the road in return for your support of tariffs today.
"Somewhere down the road" will never arrive.
And imposing extra taxes on all overseas income.
Would you mind explaining how this would do anything except NEGATIVELY affect our balance of trade?
It's a tax on exports--which, BTW, is unconstitutional.
I would shoot for both. You are probably right in that politics would force some sort of a middle ground. The unfortunate result of that would be that watered-down taxes/regs, or watered-down tariffs, or some wierd cross, would fail (it has to be all or nothing). This would allow the liberals to claim that more taxes are needed...
And imposing extra taxes on all overseas income.
Would you mind explaining how this would do anything except NEGATIVELY affect our balance of trade?
It's a tax on exports
You are right; I was shooting out a poorly thought-out idea. Thanks for the comeuppance.
--which, BTW, is unconstitutional.
Income taxes are unconstitutional. Let's go to import tariffs instead (INSTEAD, not AS WELL AS). That is essentially a sales tax, much more equitable than the current progressive tax system.