Dear Oren, Off topic, but I notice you have yet to address the difficult challenge our country faces in the area of public finance, in particular how we might to continue to fully finance programs like Medicare and Social Security in an era of growing fiscal deficits. As Maynard Keynes once remarked, in theory at least the ideal way to increase government revenue at scale would be by means of a progressive tax on personal consumption, which doesn't suffer from the same limitations (on ceiling) that are inherent in a progressive tax on income. Along those lines, consider the following possibility: https://shorturl.at/Q9H2p
I support tariffs not because I believe they won't raise prices but as a club to get fair trade deals from our "partners" which will ultimately lead to lower prices as well as reordering geopolitics.
A look at history is informative. Prior to CW1, the Federal government was entirely funded by tariffs and land sales. The land sales tended to be out on the edge and on one cared but the Indians and who cared about them. Tariffs, however, were a major flashpoint between North and South, second only to slavery. Basically, the Northern industries benefited from the protective tariffs while the South paid most of the cost of government through increased prices on imported goods, including those from the North who were protected from competition. The nullification crisis of the 1830s was sparked by tariffs.
So proceed carefully and build up domestic production at the same time.
So refreshing. Keep up the good work Oren
Exactly! Their track record over the last 40 years is dismal. So much proof now they are just mouth pieces for their handlers.
They all say and regurgitate the same blather because they go to their universities, and all talk the same blather to each other! lol
The university = The new religion
Great article, thanks. Hope your ideas rub off on the republicans. They need it, the no party has nothing to offer as they stand now.
Dear Oren, Off topic, but I notice you have yet to address the difficult challenge our country faces in the area of public finance, in particular how we might to continue to fully finance programs like Medicare and Social Security in an era of growing fiscal deficits. As Maynard Keynes once remarked, in theory at least the ideal way to increase government revenue at scale would be by means of a progressive tax on personal consumption, which doesn't suffer from the same limitations (on ceiling) that are inherent in a progressive tax on income. Along those lines, consider the following possibility: https://shorturl.at/Q9H2p
I support tariffs not because I believe they won't raise prices but as a club to get fair trade deals from our "partners" which will ultimately lead to lower prices as well as reordering geopolitics.
A look at history is informative. Prior to CW1, the Federal government was entirely funded by tariffs and land sales. The land sales tended to be out on the edge and on one cared but the Indians and who cared about them. Tariffs, however, were a major flashpoint between North and South, second only to slavery. Basically, the Northern industries benefited from the protective tariffs while the South paid most of the cost of government through increased prices on imported goods, including those from the North who were protected from competition. The nullification crisis of the 1830s was sparked by tariffs.
So proceed carefully and build up domestic production at the same time.