Posted on 03/14/2018 9:27:08 AM PDT by Kaslin
Stossel just convinced me he is an idiot.
This was written by Walter Williams. It’s pretty amazing that so called “conservatives” have no problem with American workers getting the shaft. If Trump is successful on trade, it’s the death knell for the Democrats.
Larry Elder was saying the other night, Trump promising to help workers, those largely being in states like Pennsylvania and Ohio is what helped him swing the election. This is very important.
Tariffs do not have to be an either/or. I agree with Walter Williams on the principle of trade restrictions harming the economy overall. But I also agree with Trump that reciprocal trade restrictions can be used to force other nations to drop restrictions on us. I would prefer to see low, even tariffs across the board for imports to America and on exports from other countries to America.
I’m good with a level playing field, but truthfully, how does an American worker compete with either the low wage, low skilled employees in South and Central America and Asia or the worker in Europe who company doesn’t have to pay the benefits that American companies pay here? When your company doesn’t have to pay for your health care or contribute to an 401K or pension, because you have cradle to grave care from the government, it’s a lose/lose for the American worker.
They even say "only a small percentage of US imports are Chinese steel," without mentioning how China ships almost finished steel to third countries that do very little processing and cross-ship to the US to avoid the previous tariffs on Chinese steel.
They also fail to mention the impact of the tariffs on US steel consumers: How much is the raw steel price affecting the price of a $500,000 combine? $500?
The alternative is that the US loses the ability to produce steel in any quantity, unless the US government decides to directly subsidize US government purchases. This (of course) would cede the entire domestic consumer market to foreigners, and starve US companies of the profits needed for R&D and new plant and equipment. Then critics would say, "US steel producers are technologically backward." Of course they are, because unlike their foreign competitors they have no guaranteed market to pay for R&D and upgrades.
It's a thoroughly dishonest argument, so once again, Trump is right.
I used to buy the whole “John Galt/free trade” argument, but as I get older, I understand that it is just as naive as Marxism. Unilateral free trade is not a good deal if you are up against un-free trading partners. The best you can manage for the world is to trade as free as the other guy will allow. Trump’s tariffs are very targeted to address specific grievances and not a sign of a closed economic system.
What a bunch of clap trap.
I hope it is the death knell of Free Trader economists.
Me too.
Why are tariffs an incentive to raise wages? Higher profits? Sure. More workers? Perhaps. But doesn't number three negate number one?
The current situation where we have an income tax and almost zero tariffs is EVIL.
It takes a while to train new personnel and as the become more productive they will get raises. Where you born yesterday or the day before?
Most workers wages are set by contract, bot merit.
Steel using manufacturers move? Why that would be positively unpatriotic. /S
The professor so solidly defeats your constant stream of balderdascious faux patriotic Free Traitor drivel it is amazing.
This piece is just getting him warmed up
LOL! Sure.
Bert, the hey day of the Free Traitor™ is over.
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