Sounds easy but what about our businesses that rely on doing businesses in other countries? Would they not simply match our tariff in retaliation, hurting the businesses that we expect to add good paying jobs?
Further, realistically, if the 75% tariff were sufficient to replace all other taxes, would this amount of money entirely be raised by steeper prices faced by consumers? Regular folks need things like gasoline, food, clothes, and such. Poorer folks spend a much greater percentage of their income on such items. Is it possible that increasing prices, whether it is due to more expensive US labor or a protective tariff, would pummel families attempting to make ends meet? These are the folks who seek deals out of necessity at places like Walmart.
The wealthy are far more equipped to adjust to such a change, taking advantage of inevitable loopholes to dodge the tariff on more expensive items. For example, they could purchase major items
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The_Wicked_Lady
All worlds
You Hillary Clinton whiny babies................shush!!!!!!! lol
Who? I already posted I was a Trump voter.
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Theinventor1012
All worlds
I might have been a little extreme when I said it would replace all taxes. This would probably have to be calculated I would assume and at least some other tax would be necessarily, however my point here is that the tariff would be instead of some other taxes, maybe not all. Regardless having a tariff would bring millions of jobs to the United States as local goods would not have a tariff making them cheaper to buy so people would eventually begin buying less imported goods, and overall it would not hurt the economy because it would be instead of other taxes.
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The_Wicked_Lady
All worlds
Oh I know you were a Trump support, Aries. lol I find the real political drama almost as good as that in Simcountry! :P lol
Aries, I'm suprised you believe Trump will save jobs or return jobs for blue collar working class. It's understandable if you voted for him for other reasons, but returning labor jobs?
You of all should know that better.
After World War 2, most of the world from Europe to China and Japan were devastated from the aftermath of the combat. Most industries were destroyed. This left US as the industrial powerhouse to fill the vacuum and provide the rest of the world with materials whether they were necessities or otherwise. That left us with the 1950's where jobs were plenty and wages were high.
But the time has come where that stops when China is willing to do it for pennies on the dollar.
It's time to innovate and go for tech jobs and finance sectors. Sadly, the South refuses to innovate like the north has, and they remain adamant that they must bring jobs back that they will never see again.
It&#
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The_Wicked_Lady
All worlds
* snorts in derision @ SeizeForce
Dang, where did I read or see a show on that?
It's really quite simple really, the United States consumer is what everyone is courting.
When companies like Dell can build a factory overseas and save 1 billion dollars not in construction cost, or labor costs, but corporate tax incentives who's going to blame them.
Step one: Lower the corporate tax rate.
Step two: Tariff imported products to fair market value inside the U.S.
If they want to go overseas and sell it here go for it. If they want to seek other markets, well that too is an option.
Yankee, lowering the corporate tax rate reduces our income from corporations. And second, setting tariffs on imported products leads to higher prices for American consumers. This means more expensive products, and no one likes that. I for one would not like a PC that I can build for 1000 bucks to become 1500 bucks.
With that being said, why should we fight China for mass manufacturing when we could go the route of innovation and get jobs in finance or tech sectors similarly to how Seattle, Minneapolis, and NYC have all done?
The northern US is being punished for the South's inability and refusal to integrate and innovate. It's not my fault the South cannot find manufacturing jobs. They perhaps should have gotten the training needed to find a job in demand.
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Theinventor1012
All worlds
When you say setting tariffs on imports leads to higher taxes you are right assuming you keep regular taxes the same. I think you are really missing the point SeizeForce you would lower regular taxes so in the end the tariff would have no affect on taxes. Therefore prices would be higher but taxes would be lower evening out, so it wouldn't be bad. Additionally even though high tech jobs are great it is not practical for everyone to have a job like that, unlike in simcountry you need additional jobs for those who don't go to college perhaps. What you are suggesting would dramatically favor the rich, while having a tariff would bring jobs back to the middle class (Not the Upper class, like Hillary Clinton who is unemployed, probably because the result of the election) would fix our economy.
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Theinventor1012
All worlds
Basically a tariff has no affect on the total you spend on imported goods and taxes and there is also the added bonus of more jobs. Think of it this way.
Before Tariff:
$20thousand in taxes per year
$20thousand to purchase imported goods per year
TOTAL: $40THOUSAND
After 50% Tariff Added:
$10thousand in taxes per year
$30thousand to purchase imported goods per year
TOTAL: $40THOUSAND
As you can see the total you spend on taxes and imported goods does not change and the government still gets the same income just it gets it a different way. Therefore the only affect of a tariff is increased availability of jobs with no affect on how much you spend on taxes and imported goods. Furthermore if you choose to purchase local goods that are cheaper you would be helping the economy and yourself if the local goods are cheaper then the imported goods with the tariff.
A tariff DOES have affect on the total I spend on imported goods. Not just imported goods, but goods that are made locally. Your argument fell apart when you suggested the US may lower taxes on goods.
There's no federal sales taxes that exists currently for most goods. Therefore, no taxes to lower anyways. Trump cannot change state's sales taxes as he is part of the federal government, that's not his call to make. My state will make sales taxes the same on goods whether they're imported or made locally. They don't care.
The only federal taxes that exist on goods are gasoline, cigarettes, alcoholic beverages, and airline travel.
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bluestarblue11
All worlds
I completely agree with you that Inventor clearly has no idea what he is talking about and a tariff is the wrong idea anyway. Instead of a tariff I propose a full nuclear attack on all countries who are stealing our jobs. Trump could target all cities in china, North and South Korea, Japan, Russia, United Kingdom, France, Germany, and other countries who we import goods from. Then following the nuclear attack Trump could declare that he is the supreme ruler of the world. And instead of having a tariff he could build collective farms and concentration camps across the world and millions of jobs would be created when he would need workers to manage and operate gas chambers and other parts of the camp. Then he would just need to end unfairness in the economy and create a new currency in which the government distributes evenly thoughout America and instead of making money by having a job you would recieve equal pay regardless of your job. Additionally private h
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bluestarblue11
All worlds
Also everyone would get free college, free food, free rent, and free cars which the government would provide, therefore no one would need money or ever worry about our trade deficit with china.