Free Trade and the Steel Industry

YouTube ^ | 1978 | Milton Friedman

[Toddsterpatriot]

Milton Friedman shows the stupidity of tariffs.

[Toddsterpatriot]

Only a percentage of that money ever comes back in any form.

They put it under their pillow?

The money is removed from the economy.

They eat it? Burn it?

It doesn't get spent to pay wages, buy food, pay mortgages, or even pay taxes.

They take our money in exchange for their goods and don't use it for anything? How is that bad for us?

Its wealth redistribution.

If I buy some German beer for my dollars, I've exchanged value for value.

Only when the government takes my money and gives it to another is it wealth redistribution.

[central_va]

I guess Free Traitors have eliminated all wars. Tell me could China out produce us in a real war? I think so. I guess a lot of guys would have to die while we REBUILT our factories in an emergency.

[Toddsterpatriot]

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

Great! How much do we make now?

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

That's the kind of answer I'd expect from a liberal. Or someone who dropped out of math class.

[Toddsterpatriot]

I guess Free Traitors have eliminated all wars.

Strawman much?

[Cringing Negativism Network]

Whatever.

[FromTheSidelines]

If you couldn’t follow the link and information before, I can’t help you...

[FromTheSidelines]

My mistake then, you’re pro-free-trade/no tariffs?

[FromTheSidelines]

But you want to put tariffs (taxes) on imported goods, right?

[central_va]

Name one product in the western world that can't be produced in the third world by peasants? If you take the pro Free trade argument to its ultimate conclusion, everyone in the developed world should commit suicide. But you see that won't happen. This country is dangerously close to going full scale collectivist, in part due to free trade.

I usually find myself in disagreement with Karl but on this one he is right.

the Protective system in these days is conservative, while the Free Trade system works destructively. It breaks up old nationalities and carries antagonism of proletariat and bourgeoisie to the uttermost point. In a word, the Free Trade system hastens the Social Revolution. In this revolutionary sense alone, gentlemen, I am in favor of Free Trade.

                  -- Karl Marx

[familyop]

WTO helping China Loot Caterpillar
americanthinker.com ^ | 10/04/2010 | Howard Richman & Raymond Richman

"Why can’t Caterpillar make a profit exporting mini-excavators to China? The answer is simple: China has a 30% tariff on all excavators. In fact it has a similar high tariff on just about every vehicle, be it a Ford car, a GMC truck, a Harley Davidson motorcycle, or a giant mining machine made by Bucyrus International."

The United States Constitution, Article I, Section 8:
“The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States;...To regulate Commerce with foreign Nations,...”

The Tariff Act of 1789 was the first national source of revenue for the newly formed United States.

[FromTheSidelines]

OK, let’s walk this down one step at a time.

We both agree that Congress has the power to lay and collect taxes (tariffs) on imports. I don’t dispute that, and I don’t dispute the US was funded predominantly by such taxes until the passage of the 16th Amendment.

Now, here we are today. Do we need to raise taxes on imported goods?

[Cringing Negativism Network]

But you want to put tariffs (taxes) on imported goods, right?

You betcha.

Unlike some on this board. I'd start at 100%.

[familyop]

Over 150,000 Chinese businesses and all Chinese banks are state-owned.

[FromTheSidelines]

Great! A 100% tariff on all imported goods is your solution. So you’re of the opinion we can tax ourselves into prosperity.

I don’t think anything else needs to be said.

[central_va]

From your link. It looks like you Free Traitors need a new bogey man to justify selling out your fellow Americans.

"Consider the manufacturing industry. Most Americans take it as fact that manufacturing jobs have decreased over the past 30 years. However, that is not fully accurate. Chart 1 shows manufacturing employment for union and non-union workers. Unionized manufacturing jobs fell by 75 percent between 1977 and 2008. Non-union manufacturing employment increased by 6 percent over that time. In the aggregate, only unionized manufacturing jobs have disappeared from the economy. As a result, collective bargaining coverage fell from 38 percent of manufacturing workers to 12 percent over those years."

[Cringing Negativism Network]

‘K then.

Bye!

If you want to continue the discussion, come on back.

[central_va]

The USA is forth in steel production behind China, Japan and the EU. China produces 8 times the steel we do.

[central_va]

Now, here we are today. Do we need to raise taxes on imported goods?

Yes, how many times do I have to say yesssssss?

[Toddsterpatriot]

Unlike some on this board. I'd start at 100%.

Doubling the price of oil is sure to bring down the unemployment rate.