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Free Trade and the Steel Industry
YouTube ^ | 1978 | Milton Friedman

Posted on 10/09/2011 1:37:52 PM PDT by Toddsterpatriot

Milton Friedman shows the stupidity of tariffs.


TOPICS: Business/Economy
KEYWORDS: economy; global; tariffs; world
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To: FromTheSidelines
That’s what a call for increased tariffs fundamentally are - increasing the taxes paid by US consumers in an attempt to spur domestic prosperity.

Well well you finally got to the point. An across the board tariff of about 10% would be all that is needed to level the playing field. 10% is the comparative advantage in using dirt cheap labor from Asia. I guess if there were huge savings in using communist saves to make everything maybe it would be understandable; the selling out of your country. But we are talking pennies on the dollar, our captains of industry are cheap stateless whores.

61 posted on 10/09/2011 3:54:58 PM PDT by central_va ( I won't be reconstructed and I do not give a damn.)
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To: FromTheSidelines

WHy don’t you do research instead of posting what you feel will bolster your argument, like Bob Beckel does on the FOX 5@5.


62 posted on 10/09/2011 3:58:13 PM PDT by central_va ( I won't be reconstructed and I do not give a damn.)
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To: FromTheSidelines

“Oh, it’s very simple! However, the cause isn’t because the other nations got stronger, it’s because we got weaker. “

Exactly, because we gave it away.

“How do you propose we’ll tax ourselves into prosperity?”

wow you’re a good one. where the heck does anything I post imply I support higher taxes?? Please show me. Where do I mention tariffs?

How about not subsidizing the transfer of jobs overseas? how about reducing regulation? how about reducing taxes?


63 posted on 10/09/2011 4:01:38 PM PDT by driftdiver (I could eat it raw, but why do that when I have a fire.)
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To: driftdiver

Maybe you could comprehend this statement?

“Its working so well that we don’t have a steel industry”


64 posted on 10/09/2011 4:01:51 PM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: central_va

I posted facts - you didn’t.

So can you tell me how taxing our own consumers will make America successful again?

Can ANY of you protectionists tell me how we’re going to tax ourselves into prosperity?


65 posted on 10/09/2011 4:02:31 PM PDT by FromTheSidelines ("everything that deceives, also enchants" - Plato)
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To: FromTheSidelines

Tariffs do not tax us.

Tariffs tax our competition.


66 posted on 10/09/2011 4:03:38 PM PDT by Cringing Negativism Network (Santorum: Plan B to a certain Grizzly.)
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To: Toddsterpatriot

Well do we? You’re the one claiming our steel industry is strong. I’m the one pointing out California went to China to get a bridge built.


67 posted on 10/09/2011 4:04:05 PM PDT by driftdiver (I could eat it raw, but why do that when I have a fire.)
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To: driftdiver

Post 32 - you’re obviously opposed to free trade, which pretty much means tariffs.

So are you opposed to tariffs?


68 posted on 10/09/2011 4:05:26 PM PDT by FromTheSidelines ("everything that deceives, also enchants" - Plato)
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To: Toddsterpatriot

Free Traitors have had a good 20 year run, made a lot of blood money and ruined our industrial base. It is time for the Free Traitor slime balls to leave the stage and go crawl under a rock.


69 posted on 10/09/2011 4:06:03 PM PDT by central_va ( I won't be reconstructed and I do not give a damn.)
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To: Cringing Negativism Network
Tariffs do not tax us. Tariffs tax our competition.

Seriously? Tariff: A tariff may be either tax on imports or exports (trade tariff)

It's a tax on IMPORTS. Who pays the tax? The importer - the US consumer. You're woefully ignorant if you believe otherwise.

When a product from Brazil is imported into the US, who collects the tariff? Who pays that tariff?

You really need to educate yourself...

70 posted on 10/09/2011 4:08:06 PM PDT by FromTheSidelines ("everything that deceives, also enchants" - Plato)
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To: FromTheSidelines
Yea, it's probably close to $7,000 for the labor, benefits, and UAW bailout that we spent for each car rolling out of the Big Three...

Prove it.


71 posted on 10/09/2011 4:08:08 PM PDT by central_va ( I won't be reconstructed and I do not give a damn.)
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To: FromTheSidelines

“you’re obviously opposed to free trade, which pretty much means tariffs.”

nonsense


72 posted on 10/09/2011 4:09:17 PM PDT by driftdiver (I could eat it raw, but why do that when I have a fire.)
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To: FromTheSidelines

An import tariff is a fairly easy consumption tax to avoid, just stay out of ChinaMart™. LOL!


73 posted on 10/09/2011 4:09:58 PM PDT by central_va ( I won't be reconstructed and I do not give a damn.)
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To: FromTheSidelines

There is no tariff of any amount, on goods made in America, grown in America, or drilled out of the ground in the United States of America.

Not one penny.

Simple solution.

Buy American. No tax.


74 posted on 10/09/2011 4:10:22 PM PDT by Cringing Negativism Network (Santorum: Plan B to a certain Grizzly.)
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To: central_va; Toddsterpatriot

We have free trade? Really? You think what we have now is free trade? Doesn’t really surprise me, given that some of you protectionists think a tariff isn’t a tax on the consumer...

So, how do we have free trade when we have tariffs on almost everything we import, we have quotas and set-asides for importing products, and we restrict import and export of some products? How is that free trade?


75 posted on 10/09/2011 4:11:34 PM PDT by FromTheSidelines ("everything that deceives, also enchants" - Plato)
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To: driftdiver
Well do we?

You claimed we don't.

You’re the one claiming our steel industry is strong.

Perhaps you'd share the post?

I’m the one pointing out California went to China to get a bridge built.

That's awful. Did they save money?

76 posted on 10/09/2011 4:14:23 PM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: Toddsterpatriot

When money goes overseas there are many factors to consider. Only a percentage of that money ever comes back in any form.

The money is removed from the economy. It doesn’t get spent to pay wages, buy food, pay mortgages, or even pay taxes.

Its gone. Its wealth redistribution.


77 posted on 10/09/2011 4:17:56 PM PDT by driftdiver (I could eat it raw, but why do that when I have a fire.)
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To: central_va

How much steel do we use each year to build tanks and ships?


78 posted on 10/09/2011 4:18:09 PM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: FromTheSidelines
The U.S. Constitution of 1789 gave the federal government authority to tax, stating that Congress has the power to "... lay and collect taxes, duties, imposts and excises, pay the debts and provide for the common defense and general welfare of the United States." Tariffs between states is prohibited by the U.S. Constitution and all domestically made products can be imported or shipped to another state tax free.

Responding to an urgent need for revenue following the American Revolutionary War, after passage of the U.S. Constitution the First United States Congress passed, and President George Washington, signed the Tariff Act of July 4, 1789, which authorized the collection of duties on imported goods. Four weeks later, on July 31, the fifth act of Congress established the United States Customs Service and its ports of entry where customs duties (also called tariffs or Ad Valorem taxes) were to be paid. Tariffs were originally recommended in the U.S. by the first Treasury Secretary, Alexander Hamilton, in 1789 to tax foreign imports to provide the Federal Government with money to pay its operating expenses and Federal debts and the debts the states had accumulated during the American Revolutionary War.

79 posted on 10/09/2011 4:19:35 PM PDT by central_va ( I won't be reconstructed and I do not give a damn.)
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To: Toddsterpatriot

How much steel we use isn’t really the important point.

How much steel we will *need* in an emergency, is the real measure.

That’s hard to quantify, but to a couple of signficant digits, the answer is “a lot”.


80 posted on 10/09/2011 4:21:50 PM PDT by Cringing Negativism Network (Santorum: Plan B to a certain Grizzly.)
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