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Tariffs are old school

By Donald Jean | Jun 9, 2019

Here a tariff, there a tariff, everywhere a tariff. Take, for instance, tariffs on China. When you “import” an item for $100, the item in held in customs till you pay a 25% tariff on said item, $100 to China and a $25 tariff (tax) to the U.S. government. Conversely, soy beans are “exported” to china at 25% tariff (tax). Unfortunately, China didn’t want to pay taxes to the U.S., so they went elsewhere to buy soy beans and the U.S. is now subsidizing the U.S. farmers to the tune of billions of taxpayer dollars to supplement the farmers for the loss of their soy bean market. The American taxpayer is getting fleeced on “imports” and hosed on “exports.” The sad part is that’s its all of our own doing. Import tariffs or export tariffs all work the same. It’s a tax on commerce, that’s why the world went to free market trade years ago. Tariffs are old school. I’m for the good old days, but tariffs are laughable in the 21st century.


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