Economics from someone who understands and can effectively communicate!
Reposted from
Kai Ryssdal
Here’s another way to think about it.
We import roughly $3.25 trillion in goods every year.
Income tax receipts total roughly $2.2 trillion.
So we’d need a universal tariff rate of, give or take, 65% to be able to do away w the IRS.
But…
1/2
We import roughly $3.25 trillion in goods every year.
Income tax receipts total roughly $2.2 trillion.
So we’d need a universal tariff rate of, give or take, 65% to be able to do away w the IRS.
But…
1/2
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