A 20% across the board import tariff balances the budget tomorrow. Combined with Trumps income tax cuts and you have a recipe for an American economic renaissance.
‘A 20% across the board import tariff balances the budget tomorrow. Combined with Trumps income tax cuts and you have a recipe for an American economic renaissance.’
I agree with you that Trump’s ideas will work but there is one problem. There are some things that are no longer produced in the U.S., two examples are auto wiring harnesses and t.v.’s. Factories will be needed to produce these things and I am sure many others. The know how is most likely lost and it will take time to regain, in the meantime we will be forced to purchase from Korea these things and we will pay the tariff. I don’t know for how long but that is how it will work.
Am amendment to require debt be paid for by tariffs would be a great constitutional balance.
High debt = high tariffs, low debt = low tariffs.
Perfect feedback loop.
How politicians could be kept from conflating those receipts is problematic though.
I'm sure the millions of people who lose their jobs when our trading partners retaliate will be thrilled.