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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Lots of chicken littles calling for the sky to fall here.  For all the talk about economics, I am not surprised DCUM doesn't note the [b]economic history where the US relied on tariffs to become a world-class economy.[/b]  Moreover, tariffs are a tax on consumption, which economists will tell you is better than a tax on income.

So maybe Trump is onto something after all.  [/quote]

False. Just absolutely false. Selected and strategic tariffs, but not the blanket tariffs trump is trying to impose. Smoot-Hawley, anyone? Anyone?[/quote]

See, you don't realize that tariffs were a major source of government revenue prior to the imposition of the income tax.

Smoot-Hawley wasn't the problem.  The Great Depression stemmed from a massive expansion of credit.  If Smoot-Hawley had been the issue, the Great Depression would have ended immediately after its repeal.  Funny, that didn't happen.  [/quote]

Yes, a VAT or sales tax is a source of government revenue.  Where does the money come from?  From the consumer.  From the domestic consumer.

Tariffs are akin to the VAT or sales tax.  They are paid for by the consumer, the domestic consumer.  Us.[/quote]

You're changing the subject.  I never said it didn't come from the consumer.  I said it was superior to an income tax, which comes from the producer, which is even worse.

Also, tariffs don't crash the economy.  Dems need to calm down and pretend like they are the end of the world.  They're not. [/quote]

So far, they mostly haven't kicked in yet.  So they haven't quite crashed the economy yet, although we're halfway there already.

Right now, we have both an income tax and really high tariffs.  We have sky-high taxes on both producers and consumers right now.  This is not the best of all possible worlds.  (Also, the tariffs are unlawful because the president does not have the power to tariff.  Which makes negotiating with him even more difficult.)[/quote]

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