The Tariff Twits live in a fantasy world. Unthinkingly, they overlook the inevitable Step 2 in any tariff regime - acquiring special advantage though political power.
15 minutes after a tariff is imposed, lobbyists seek - and always get - special treatment in the form of exemptions, delays, etc., from politicians. This further distorts price signals in the market.
I learned all I needed to know about tariffs in 1982. I was shopping for my first new truck and had decided on a Toyota. Right then, Reagan capitulated and congress imposed a $500 tariff on Jap trucks (the truck cost about $9000). THE NEXT DAY the Detroit Big 3 raised the sticker price of their competing products by $495. So, not just Jap truck buyers were harmed; EVERY truck buyer was harmed. (It’s called economics.)
Funny, the “job saving” stories appeared on all the networks, but no reporter asked me about the $500 hole in my pocket. Through political influence, I was “taxed” to support a union job and an inefficient producer was subsidized. That’s the way tariffs work - every time.
Increases in standard of living are inextricably tied to productivity gains. By distorting the market’s pricing system, we are all poorer. Some are just too stoopid to recognize it.
Free Traitors™ like you can < expletive deleted> my < expletive deleted >.
That’s an excellent anecdote. I’m going to “borrow” it for future discussion, if you don’t mind!