I’ll take a tariff over a tax any day. It’s the preferred method of funding that our Founders chose to fund their originally intended LIMITED federal government.
OK you’re ok with Tariffs.. what about all the other taxes he proposes and the (probable) ones he will not speak of..
Q: Where does it STOP.. A: it doesn’t..
Please be specific.
Tariffs are positive taxes when they offset income and corporate taxes.
Trump has said he wants to ELIMINATE the corporate tax.
That means that a business based in the US with manufacturing located here will pay exactly ZERO taxes on income. While those companies manufacturing in foreign lands to take advantage of low wages will be required to pay a tariff on certain finished goods.
That gives businesses, both domestic and foreign an incentive to locate both management and manufacturing in this country.
How many companies will rush into a country that offers ZERO corporate tax rate as well as protection from foreign competitors? Can you say hundreds of thousands?
Corporations do not pay taxes, they pass the cost of taxes to the end user. Those corporations that have domestic production and domestic labor forces are spared any taxes on their income and are able to offer goods and services at a significant advantage to those who must import their finished goods.
An added bonus would be a higher quality end product. If you hadn't noticed a vast majority of the crap coming out of China and other countries is junk!
A trade War would KILL every one of our trading partners long before it would kill us. The reason being is that we not only have a huge supply of the Worlds natural resources, military (particularly deep water navy that protects shipping for free to our competitors) but THE primary market for finished goods at a large profit is the United States. We as a country compromise more than 25% of the entire World economy. Offering free access to our competitors is suicidal.
Most foreign countries already have large tariffs on American finished goods, that is why so many manufacturers have outsourced their production. They get a free ride in America as well as a free ride in the country they produce.
Tariffs are a much more desirable tax than any other form of taxation, particularly for a large continental power with a massive supply of raw materials. IE: the USA. That is why for the first 130 years of our countries existence they where the primary form of Federal revenue.