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Up until WWI, the primary source of revenue for the federal govt. was tariffs (customs) placed on good produced outside of the country.
In the beginning, the founding fathers realized that to grow the country they had to protect local business. We had all of the resources here and therefore had a competitive advantage. It worked. Now, the emerging economies of India and CHina are doing the same thing and they are becoming the superpowers.
If we are going to keep our global position and bolster our economy, it may be necessary to go back to Tariffs again to protect our business and provide jobs for our citizens. There should be tariffs placed on all goods produced outside of the U.S. that would bring the cost higher than American made products.
The counter argument is that it would make products more expensive. That is absolutely true on average. However, if you don't have a job and no money, what difference does it make if one product costs a dollar more than another when you can't afford to buy either because you have no income.
Great idea. It would limit the federal government to a reasonable size, go back to the Founding Fathers' ideals, and free the working class from being tax slaves to a gigantic and over-controlling government.
Of course, with Washington Big Government now in full control of the nation and the states, and the working class losing a large chunk of their salaries to government before they even see the money, it would take another American Revolution. One that is LONG, LONG overdue.
got a giant jelly roll fat cat bureaucracy the purpose of the taxes are to feed them not provide services to us. massive subcontracting of all high 5 and 6 figure people would fix this. stop subcontracting just the little guy and kelly girl will work.
fire them.
Up until WWI, the primary source of revenue for the federal govt. was tariffs (customs) placed on good produced outside of the country.
In the beginning, the founding fathers realized that to grow the country they had to protect local business. We had all of the resources here and therefore had a competitive advantage. It worked. Now, the emerging economies of India and CHina are doing the same thing and they are becoming the superpowers.
If we are going to keep our global position and bolster our economy, it may be necessary to go back to Tariffs again to protect our business and provide jobs for our citizens. There should be tariffs placed on all goods produced outside of the U.S. that would bring the cost higher than American made products.
The counter argument is that it would make products more expensive. That is absolutely true on average. However, if you don't have a job and no money, what difference does it make if one product costs a dollar more than another when you can't afford to buy either because you have no income.
Let's say 500,000 cars were imported in to the US in a year. Let's also say the tariff is 2.5%. Finally, let's assume the average value of the car is $20,000.
The duties collected would be $250,000,000.
But, the tariff also pushes up the price of domestic cars. Let's say 1 million domestic cars are sold each year. FYI, the YTD as of June total new light vehicle sales were 7,272,160, of which 3,821,728 were cars. Let's assume the average domestic car was also $20,000. The total increase in domestic car prices would be $2.5 billion.
So, duties on imported cars cost society an extra $2.75 billion.
Assume that saves 10,000 jobs in the US auto industry. Every one of those jobs cost consumers $275,000.
Great idea. It would limit the federal government to a reasonable size, go back to the Founding Fathers' ideals, and free the working class from being tax slaves to a gigantic and over-controlling government.
Of course, with Washington Big Government now in full control of the nation and the states, and the working class losing a large chunk of their salaries to government before they even see the money, it would take another American Revolution. One that is LONG, LONG overdue.
I honestly do not know how much revenue would be created...more or less, but it would satisfy one of the primary issues such as fostering an environment that would encourage companies to produce their products domestically instead of outsourcing them overseas, which would increase the number of jobs.
Let's say 500,000 cars were imported in to the US in a year. Let's also say the tariff is 2.5%. Finally, let's assume the average value of the car is $20,000.
The duties collected would be $250,000,000.
But, the tariff also pushes up the price of domestic cars. Let's say 1 million domestic cars are sold each year. FYI, the YTD as of June total new light vehicle sales were 7,272,160, of which 3,821,728 were cars. Let's assume the average domestic car was also $20,000. The total increase in domestic car prices would be $2.5 billion.
So, duties on imported cars cost society an extra $2.75 billion.
Assume that saves 10,000 jobs in the US auto industry. Every one of those jobs cost consumers $275,000.
That is why tariffs are an awful idea.
You are making up your own numbers and your own assumptions to support your conclusion that it is a bad idea.
Your first assumption is that the price of american made cars would increase more than they are now. You then assume that they would increase to as much as the foreign cars. You have no basis for the assumption.
You next assume that only 10K jobs are saved ( i will add or created) your final assumption or omission as the case may be is the fact that under your calculation we would have 250,000,000 in new revenue. That is revenue that consumers do not have to pay in taxes.
There is a valid argument against tariffs in that there are higher costs to the consumer. YOur argument is just made up of assumptions with no factual basis.
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What are people buying other than food and energy, perhaps a car part now and then, Soap and toilet paper? Why do people think they have to always buy stuff?
Great idea. It would limit the federal government to a reasonable size, go back to the Founding Fathers' ideals, and free the working class from being tax slaves to a gigantic and over-controlling government.
Yeah, they can be REAL slaves, indentured, and convict labor instead. Whoopie!
You are making up your own numbers and your own assumptions to support your conclusion that it is a bad idea.
Your first assumption is that the price of american made cars would increase more than they are now. You then assume that they would increase to as much as the foreign cars. You have no basis for the assumption.
You next assume that only 10K jobs are saved ( i will add or created) your final assumption or omission as the case may be is the fact that under your calculation we would have 250,000,000 in new revenue. That is revenue that consumers do not have to pay in taxes.
There is a valid argument against tariffs in that there are higher costs to the consumer. Your argument is just made up of assumptions with no factual basis.
Last I looked, the tarriff on cars was 2.5%. The average new price of a car is $30,303. I already gave you the data for year-to-date new car sales.
And, referring to
Quote:
Your first assumption is that the price of american made cars would increase more than they are now. You then assume that they would increase to as much as the foreign cars. You have no basis for the assumption.
the price of the foreign competitor becomes the upper price for the market. So, no, domestically produced vehicles wouldn't necessarily cost as much, but capitalism suggests it should be priced nearly as much because producers have no reason not to.
And, yes, the tariff would generate $250 million in new revenue, but, also, cost consumers $2,500 million in available funds for other purchases.
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