MCViewPoint

Opinion from a Libertarian ViewPoint

Posts Tagged ‘Tariffs’

Trade Myths – LewRockwell

Posted by M. C. Fox on July 10, 2018

https://www.lewrockwell.com/2018/07/laurence-m-vance/trade-myths-die-hard/

By 

I received several comments and questions regarding trade after the publication of my recent article, “Stupid Countries Restrict Trade.” Here is a summary of some questions that a few people had:

What should the government of the United States do if other countries impose tariffs on U.S. goods exported to their countries?

What should the government of the United States do if a country subsidizes its exports to the United States?

What should the government of the United States do if it had no tariffs on foreign imports but other countries imposed tariffs on U.S. exports?

Trade myths die hard. Here are three of them I want to refute based on the comments and questions I recently received. Read the rest of this entry »

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Tariffs, Quotas and Trade restrictions

Posted by M. C. Fox on June 27, 2018

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Only Stupid Countries – LewRockwell

Posted by M. C. Fox on June 27, 2018

“Risking a trade war with more tariffs will only invite more retaliation that will cause significant harm to the U.S. economy,” says a statement by The Business Roundtable, “an association of chief executive officers of America’s leading companies.”

https://www.lewrockwell.com/2018/06/laurence-m-vance/stupid-countries-restrict-trade/

By 

“We have to change our ways. We can no longer be the stupid country. We want to be the smart country.” ~ President Donald Trump

“Trade wars are good, and easy to win,” declared President Trump after announcing new tariffs on imported steel and aluminum back in March. This was after he imposed steep tariffs on imported washing machines and solar panels at the beginning of the year. Now Trump is calling for more tariffs on imported Chinese goods.

This should come as no surprise… Read the rest of this entry »

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Tariffs: The Preferred Tax of Masochists

Posted by M. C. Fox on June 27, 2018

https://www.garynorth.com/public/14789.cfm

Gary North

If I were to come to you and say “What this country needs is higher taxes in order to make us all rich,” you would correctly conclude that I had lost my mind or my principles. But if I were to come to you and say, “What this country needs is higher tariffs to make us all rich,” a considerable number of you would say, “You know, he’s absolutely right.”

What you need to understand is that these two statements are the same, economically speaking: “What this country needs is higher taxes to make us rich” and “What this country needs is higher tariffs to make us rich.”

Why are they the same? Because a tariff is a tax. This is the “dirty little secret” that every promoter of higher tariffs never tells you. It is the secret revealed by economic analysis ever since Adam Smith’s Wealth of Nations (1776), which is why those people who publicly promote tariffs are very seldom trained economists, and why those few who are economists are devoted followers of John Maynard Keynes and hostile to the idea of economic freedom. Read the rest of this entry »

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The Ron Paul Institute for Peace and Prosperity : Tariffs Are Not the Answer

Posted by M. C. Fox on March 13, 2018

http://www.ronpaulinstitute.org/archives/featured-articles/2018/march/12/tariffs-are-not-the-answer/

President Trump’s planned 25 percent tariff on steel imports and 10 percent tariff on aluminum imports may provide a temporary boost for those industries, but the tariffs will do tremendous long-term damage to the American and global economies. Tariffs raise the price of, and reduce demand for, imported goods. Tariffs ensure the preferences of politicians, instead of the preferences of consumers, to determine how resources are allocated. This reduces economic efficiency and living standards… Read the rest of this entry »

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Tariffs: The Preferred Tax of Masochists

Posted by M. C. Fox on March 7, 2018

It is time to resurrect this article Because a tariff is a tax.

President Trump and you sheeple please take note.

https://www.garynorth.com/public/14789.cfm

Gary North

If I were to come to you and say “What this country needs is higher taxes in order to make us all rich,” you would correctly conclude that I had lost my mind or my principles. But if I were to come to you and say, “What this country needs is higher tariffs to make us all rich,” a considerable number of you would say, “You know, he’s absolutely right.”

What you need to understand is that these two statements are the same, economically speaking: “What this country needs is higher taxes to make us rich” and “What this country needs is higher tariffs to make us rich.”

Why are they the same? Because a tariff is a tax. This is the “dirty little secret” that every promoter of higher tariffs never tells you. It is the secret revealed by economic analysis ever since Adam Smith’s Wealth of Nations (1776), which is why those people who publicly promote tariffs are very seldom trained economists, and why those few who are economists are devoted followers of John Maynard Keynes and hostile to the idea of economic freedom. Read the rest of this entry »

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