An excellent clip from the 1986 Hollywood film “Ferris Bueller’s Day Off” explains why raising tariffs on Chinese goods will hurt the U.S. economy.
In 1930 Republicans raised tariffs. As a consequence the U.S. economy suffered an even worse Great Depression.
Tariffs are taxes paid by consumers.
In 1930 Republicans raised tariffs. As a consequence the U.S. economy suffered an even worse Great Depression.
Tariffs are taxes paid by consumers.
Comments
So he could print dollars to pay for The New Deal, WWII & The Marshal Plan.
Nixon took the world off fixed exchange rates
Democrats can’t fall prey to: Trump is running out of “tax payer money”
Our gov just prints dollars
The argument you’re using was used in the 90’s to justify MFN status for China, NAFTA, GATT.
And how did all that work out?
That was said a LOT.
& I remember a lot of us said things like “if factories close across the middle of the country a fascist movement is going to foment” or “has anyone done any analysis on the economic value of a job versus slightly cheaper occulting fans?”
But it’s not what was done.
Corporations steered that process almost entirely.
Do not conflate one set of idiotic ideas with the idiotic idea of tariffs.
Just because the U.S. dismantled its own industrial base (which caused the issues you mention) does not mean tariffs are a good idea.
Not all tariffs are the same.
There are much better economic tools for marginal fringe cases where tariffs might be enticing.