[quote]Zap Branigan wrote:
Sloth wrote:
Zap Branigan wrote:
Sloth wrote:
Zap Branigan wrote:
Sloth wrote:
How about do away with all the taxes on business and income? Raise needed revenue through a tarriff.
Trade wars with the rest of the world isn’t going to help matters.
Oh, I’m not talking about targeted tariffs, that respond to what other nations are doing concerning our product, I’m talking about a flat, general, and ‘blind’ tariff. Not a protectionist tariff. Strictly meant to generate tax revenue. Look, the thing is, all taxes will have some effect on the economy, prices, and etc. So why not rely on a tariff and not, say, an income tax?
What’s the point of using a relying so heavily on a tax system that drives up domestic cost?
It would have the same effect in sparking trade wars.
A trading war would mean that we’d levy tariffs in response to another country’s actions. We wouldn’t. Our tariff would only be used to collect revenue. Again, I’m not talking about targeting countries for a higher tariff on their goods. Let’s not forget that income and corporate taxes have their own negative effects.
And other countries would raise tariffs on US goods in response. There is no doubt a trade war would erupt and it would be with man countries. It would be a disaster.[/quote]
Well, if they’re not lowering domestic taxes at the same time, they’re just shooting themselves in the foot. In any event, we wouldn’t raise tariffs again, in retaliation. And, remember, I’m calling for gutting federal spending, not simply slowing spending. I don’t think we’d need anything near the level of tariffs you may be thinking.