No. of Recommendations: 7
As the Supreme Court has just ruled (admittedly I haven't bothered to read the opinion or a summary of it, but this is what I've heard is the basic reasoning), tariffs are a tax.
I would agree, tariffs are a tax.
More taxes means more income for the government.
Government is not an investment vehicle. Government is a redistribution vehicle.
Taxes on income and production are not good because they stifle growth and productivity.
"supply side" propaganda, which we have been fed for 40 years.
Taxes on consumption (again if any taxes are "good") are good because they re-direct non-productive consumption activity to lesser-taxed activities such as investment.
What part of Prole spending is "non-productive"? Food? Housing? Clothing?
What part of "JC" spending is "non-productive"? The lowest taxes are not from productive endeavor, corporate tax rate 21%, but from financial speculation, 0% tax on cap gains until the investment is sold.
Which is better for the economy?
Some 70% of the US economy is consumption, mostly by Proles, because there are so many of them. Make stuff more expensive, so that consumption shrinks, and large segments of the economy that produces actual products and services, shrinks.
Steve
