A 25% tariff would balance the budget year over year.
How so? Is Congress going to quit spending ever more money? A tariff is a tax and we have proven in spades that no level of taxation will balance the budget. A tariff will simply enable further spending and borrowing unless we implement offsettIng personal income tax cuts.
Arent you a proponent of relying on a tariff instead of income taxes to fund the government? Or do you simply want the government to have more revenue?
How is that any different than raising taxes? Tariffs do nothing if no one buys the product. If they do buy the imported product, some part of that tariff will be passed onto the consumer in the form of higher prices. There is no need to raise taxes, as alternatives exist.
How ‘bout this instead: Have politicians reducing spending, especially on the “get-me-reelected” bullcrap like free cell phones for deadbeats. Idea #2, Warren Buffet’s idea: Any politicians who votes for a budget that produces a deficit cannot run for reelection. That would fix it overnight.
We have $4 trillion in annual imports?
We need to become the manufacturing engine we once was. Stop allowing China to steal/purchase/acquire our technology and expertise. Man, what would happen if we were to have another World War? Would we be able to ramp our manufacturing fast enough to protect our homeland? Are we going to borrow our way through a World War? Who would we borrow from? China?
LOL! I think we could be in deep CaCa.