Posted on 10/23/2017 12:56:24 PM PDT by Tolerance Sucks Rocks
As long as it is 10 percent instead of 30 percent (9 percent instead of 23 percent, inclusive), count me in!
20% would be a good number to compensate against somebody dumping subsidized crap on our shores. I tend to believe, however, that high tariffs as a rule do more harm than good, and that free trade (actual free trade, not managed trade) with friendly and neutral countries is beneficial to us.
As an example, the Smoot-Hawley tariffs (around 60%) and the resulting punitive tariffs on our goods by other countries, caused such a slowdown in international trade that it contributed to the Great Depression, due to a lack of foreign goods in addition to our domestic goods.
The markets for guns and knives are already flourishing. In the meantime, nobody seems to be building redundant transformers and other things we would need to resume operations quickly in case of an EMP or a Class X solar storm.
The tax would hopefully become 0 percent once Congress suffers an attack of fiscal sanity and enacts meaningful budget cuts.
That Smoot Hawley significantly contribution to the Great Dispersion is neocon lie. Look at the raw data. Trade vs GDP? 4%. 4% which went to 2% of the economy post Smoot is not going to tank it in any significant way.
Thanks for the info.
Dispersion = Depression
Numbers don’t work, initially, at 10%.
The game is played at “revenue neutral;” so we need the rate to be 23% initially.
It will go down, over time.
10%? I don’t think that is possible, given the FRee spending Congress. But, 15% is certainly feasible in a few years.
Just think how much better off you will be at 23% - do you own math.
FAIRtax is a no-brainer, unless you are a big-government control FReak!
Any income tax is an abomination because income tax equals indentured servitude (= bondage). This country was founded on the belief that the fruits of a man’s labors were his and his alone.
Income tax also is as regressive a form of taxation as is possible because the only way to reduce tax indebtedness to better weather lean times is to earn less. And the government has never shown any discipline in the levying of income taxes and likely never will. This year the average American worked exclusively for the benefit of the government until 23 April (Tax Freedom Day). In 1950, Tax Freedom Day was 31 March. In 1900 it was 22 January.
The only way to keep Congress’ hands out of the cookie jar is not to put any cookies in it.
Well played, Paal.
Income taxes are fundamentally flawed, no matter the rate, no matter how progressive or regressive. Flatten a cow pie and it remains a cow pie. And it still stinks.
An amendment: No tax in interest income!
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