State capitalism is not capitalism. It’s similar to the economics of fascism, which is a close cousin to all other forms of socialism.
It involves protecting key industries with tariffs and state-directed allocation of resources, public-private partnerships and a bias towards favoring domestic over imported goods.
To the extent that it favors the national good over sectoral interests, a state capitalist economy is more predictable than a market economy.
I agree that globalist corporations should be free to offshore and import their product back to the USA. They shouldn’t however expect this aberration of duty free access to the US market to last much longer. They have to realize that they are taking a chance by offshoring no matter how much they bribe congress thru K -Street. There is a limit to corruption. The American people are closing the door on that and it’s a good thing and about time. Go Trump, go!
Excise taxes are just taxes. Taxes are penalties. We levy penalties on income, property, sales, inheritance, and many more. Excise taxes can be evaded merely by buying a product or service that employs US residents. You evade the income tax by not working.
Between the income tax and the excise tax, which is inherently more positive for a country?