“People here seem bizarrely unaware that Republicans have supported free trade for decades and also that tariffs are taxes.”
Yes, tariffs are taxes on foreign factories. Consider it a price they pay for access to the US market. Likewise US factories pay taxes on profits to federal and state governments as well as property taxes, regulatory fees, license fees, unemployment insurance premiums to state governments, etc, etc, etc. All of those taxes and fees are also the price business pays to access the US market.
If the foreign factory is exempt from taxes in their own countries on goods exported (many are), receive export incentives directly from their home governments, receive other subsidies from their own countries (think China), and their home countries manipulate currency and put in place non tariff barriers to imports, those foreign factories have a distinct government created advantage competition with American companies and American workers. To give these foreign factories tariff free (i.e. tax free) access to the US market, while assessing all kinds of fees and taxes on American companies is committing economic suicide.
The Founding Fathers understood economics and the advantages of tariffs. They allowed US firms to trade freely (i.e. trade with any country) but they did not define free trade as tax free access to the US market by foreign firms. Instead they assessed high tariffs on foreign goods. Until the passage of the income tax amendment to the Constitution in the early 1900’s, the activities of the US federal government were almost completely funded by the tariff. In fact, during the period of the highest economic growth in US history (1865-1900) the US had the highest import tariffs in its history.
Perhaps this generation should learn from history and the wisdom of the founders. There is no evidence any of the free trade agreements of the past 25 years have benefited the US economy or the US worker. In fact, these agreements have destroyed the US manufacturing sector, funded the rise of China as a military and economic power, increased our national debt, reduced the standard of living of the average American household, and destroyed the middle class.
Twenty-five years of economic failure is more than enough. Not only should these new trade agreements be voted down, the US should exit the existing agreements, slap a 30% tariff on all imported goods, eliminate taxation on profits realized on the sale of goods manufactured 100% in the USA of USA sourced raw materials. Do this and watch the US manufacturing sector come back and the US economy soar. High tariff policies made us a great industrial power. It can happen again. Sign these new agreements and watch more jobs go offshore.
Perhaps this generation should learn from history and the wisdom of the founders. There is no evidence any of the free trade agreements of the past 25 years have benefited the US economy or the US worker. In fact, these agreements have destroyed the US manufacturing sector, funded the rise of China as a military and economic power, increased our national debt, reduced the standard of living of the average American household, and destroyed the middle class.””
Which is why they want this last deal so bad, to FINISH US OFF, thereby sealing their fate as Public Masters of their peasant Subjects.
Which are passed on to the consumer, which is what the people that support them want.
bkmk