Trump wants to finance government with tariffs

[kan...@aol.com]

https://www.forbes.com/sites/andrewleahey/2024/06/14/can-trump-eliminate-the-income-tax/

https://www.morningstar.com/news/marketwatch/20240613380/trump-floats-replacing-income-taxes-with-tariffs-gets-criticized-by-economists

DF can  explain how this  would kill the economy faster and deader than Covid

Forbes and Morningstar are not exactly crackpot liberal sites. They estimate that tariffs would have to be in the range of 80+% to finance the gov't. 

CRASH!!!

[David Fairchild]

Kill? I am not sure on that Ken. It would require significant shift in the American economy to be sure, perhaps putting us in the economic ER for a decade or so. But if any country in the world could adapt to and thrive under a strict policy of import substitution, it is the U.S., me thinks.

That said, I am not recommending import substitution as a policy. I firmly believe trade is the best policy for economies because it leverages the comparative advantages of geographies and people groups, thereby promoting efficiencies and creating wealth.

[Brian Kegerreis]

Free trade with free nations is fine. Free trade with unfree nations like China is in the long term a bad deal for us. 

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[GMoney]

On Fri, Jun 21, 2024 at 10:29 AM Brian Kegerreis <bkege...@gmail.com> wrote:

Free trade with free nations is fine. Free trade with unfree nations like China is in the long term a bad deal for us. 

Honest question: The small time farmer living in some remote location in the middle of bum-fuck China.......in what specific ways is this person less free than the small time farmer living in bum-fuck Iowa?

[Brian Kegerreis]

Probably a number of ways. Most telling of course is that in China he can't just stay on his farm he is forced to move to the big city. 

https://www.npr.org/2020/08/10/893113807/china-speeds-up-drive-to-pave-rural-villages-put-up-high-rises

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[GMoney]

That would be a really good, and scary, example.

Yikes.

"People's Republic" my ass. 

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[Brian Kegerreis]

Wrong, People's Republic in reality. 

Everyone hates Nazis except thier mothers, what I fail to fathom is why everyone doesn't hate communists just as much. They are at least as bad as Nazis.

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[David Fairchild]

Well, as a matter of policy, my guess is a higher percentage of Chinese have been forced to move to the cities, but as a matter of economics a higher percentage of Americans have been motivated to move to the cities. More Americans now work in healthcare than in agriculture. 

[Brian Kegerreis]

Are we healthier than when more people worked in agriculture?

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[David Fairchild]

Well, I'll leave it to Ken for a more definitive answer. My answer is that we are certainly better now at prolonging our unhealthiness. How's that for an oxymoronic answer? 

[Brian Kegerreis]

I think you nailed it. 

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[kan...@aol.com]

Good call DF. There are probably too many people in health care. It's an awfully big part of the economy. 

I don't have numbers; but I'd wager that a large portion of health is spent on stuff that adds little to health or care. 

We spend ginormous dollars on the last six months of an elder's life. To what end? Tons are spent on the really exotic and pricey stuff that does not a lot for not many. If we emphasized better health, preventive care (including VACCINATIONS), not smoking/drinking etc, and basic care by family practitioners, we'd be better off and save bazillions of dollars. But what do I know?