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re: Protectionism is not the answer
Posted on 2/24/17 at 10:54 am to I B Freeman
Posted on 2/24/17 at 10:54 am to I B Freeman
Given the current trade deficit, by putting the tax on imports and not taxing exports, we raise revenue. The revenue off the border adjustment will be like $100 billion a year.
Issues?
Issues?
4
Posted on 2/24/17 at 11:05 am to CoachDon
quote:
Given the current trade deficit, by putting the tax on imports and not taxing exports, we raise revenue.
And creates inflation which in turn decreases revenue - unless of course you want central price controls which leads in a whole different discussion.
Posted on 2/24/17 at 11:21 am to CoachDon
quote:
Given the current trade deficit, by putting the tax on imports and not taxing exports, we raise revenue. The revenue off the border adjustment will be like $100 billion a year.
Issues?
Yes. First off that is not true and second off why do I care if the government takes in another $100 billion??
The only time this country operated with a trade surplus was during the depression. I do not wish to return to those days.
There is a reason we operate at a trade deficit and it is a good one----we consumer far more per capita than do the countries we import from because we are a wealthy country.
We can have a trade surplus---if that is our goal and a stupid goal it would be---by simply mandating consumers quit spending.
This post was edited on 2/24/17 at 11:25 am
Posted on 2/24/17 at 12:20 pm to CoachDon
quote:
Given the current trade deficit, by putting the tax on imports and not taxing exports, we raise revenue. The revenue off the border adjustment will be like $100 billion a year.
Issues?
This is deceptively simplistic and IMO outdated. Trade isn't necessarily zero sum. We can all win. Hell, we all did after 1945.
This is a fascinating time in terms of the history of trade. I'm sort of on the fence, I see both sides, Mercantilist and anti-tariff as well as acknowledging that truly free trade can lead to one economy effectively over-awing another - I think this, not socialism, is to blame for what is happening in Venezuela. Almost all their exports, and all their revenue, is one product. I do think the WTO should consider some sort of mechanism by which countries are encouraged, but not forced, to work a range of exports. But then I'm one of them crazy globalists, I would say that.
Posted on 2/24/17 at 12:24 pm to CoachDon
quote:Issues? Maybe we'll have to pay more for things. So unless that's compensated with some tax reduction elsewhere, I'm not going to support something to my own detriment because the government benefits from it. I might as well just starting having the government keep some or all of my tax refund if that's the case.
Given the current trade deficit, by putting the tax on imports and not taxing exports, we raise revenue. The revenue off the border adjustment will be like $100 billion a year.
Issues?
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