Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
...as a result of the artificial barrier erected against foreign goods, American labor, capital and land are deflected from what they can do more efficiently to what they do less efficiently. Therefore, as a result of the tariff, the average productivity of American labor and capital is reduced.
It is important to realize that what those benefited by these measures (tariffs) consider an advantage for themselves lasts only for a limited time. In the long run the privilege accorded to a definite class of producers loses its power to create specific gains.
Protectionism is simply a plea that consumers, as well as general prosperity, be hurt so as to confer permanent special privilege upon groups of inefficient producers, at the expense of competent firms and of consumers. But it is a peculiarly destructive kind of bailout, because it permanently shackles trade under the cloak of patriotism.
Talk about import restrictions or complaints about "outsourcing" today proceed with the same mindless disregard of what other nations are doing and will do. People who throw around statistics about how many American jobs have been outsourced don't even mention how many Americans have jobs that have been outsourced from other countries, much less how many Americans will lose those jobs if we start a new round of international trade restrictions.
Tariff policy beneficiaries are always seen, but its victims are mostly unseen. Politicians love this. The reason is simple. The beneficiaries know for whom to cast their ballots and to whom to give campaign contributions. Most often, the victims do not know whom to blame for their calamity.
Does anybody defend tariffs -- other than Trump and his loyal followers?
If it was Obama creating these tariffs, they would be calling him a socialist. Sadly a lot of people blindly follow whatever Trump does, even if it goes against their own beliefs. Trump could make a law tomorrow requiring every US citizen to open their house to illegal immigrants, and these people would still support him. It's a cult
1. Tariff is a form of tax, whoever is arguing against this is completely clueless. Importers will just raise the price accordingly, passing it to consumers.
2. Economics is not a science, there are no "laws". Raw materials come from nature but then all the factors are determined by human behavior, ex, skills, wages, how well informed consumers are, trade, etc. This has nothing to do with laws, but human abilities and relationships that can be easily modified if we were nicer to each other instead of trying to screw up our neighbors over.
After giving huge tax to the rich, the average person is going to pay more in another form of tax.
1. Tariff is a form of tax, whoever is arguing against this is completely clueless. Importers will just raise the price accordingly, passing it to consumers.
2. Economics is not a science, there are no "laws". Raw materials come from nature but then all the factors are determined by human behavior, ex, skills, wages, how well informed consumers are, trade, etc. This has nothing to do with laws, but human abilities and relationships that can be easily modified if we were nicer to each other instead of trying to screw up our neighbors over.
That's what the Trump cult isn't able to comprehend. TARIFFS ARE TAXES. That tax cut we just got? Poof...all gone.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
