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Originally Posted by pan6467
If you raise import tariffs to what other countries have, open a manufacturing sector that pays workers decent wages, and build products that are sold and taxed here, the tax base rises exponentially.
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If your goods cost 10 times more, the nation has to be 10 times richer to be just as well off, overall. High import tarriffs tend to increase the cost of goods more than they make the country richer.
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Originally Posted by pan6467
If you raise import tariffs to what other countries have, open a manufacturing sector that pays workers decent wages, and build products that are sold and taxed here, the tax base rises exponentially.
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A good paying job that exists solely because of government support is just welfare. Welfare, except in extreme cases, is best used as a short-term bandage.
When it is far cheaper to build a robot that replaces any worker being paid a 'good wage', we shouldn't be wasting people on it.
And that is the case quite often, and will be more and more in the future.
Secondly, your main trading parter is Canada. Your agreement to 0 tarrifs includes guarantees on your single largest source of imported Energy, as well as protection for American multinationals who do business in Canada, cheap raw materials, and many other benefits. Canada has ports, they can send their raw materials elsewhere.
Manufacturing is building durable goods. People only need so much durable goods.
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Originally Posted by scout
The reason Clinton was able to project an end to the deficit was because the economy was booming. We never actually ended the deficit or got out of the red, it was merely projected.
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Do you really mean Deficit? The US Federal deficit disappeared in the mid-90s.
I think you are talking about 'debt', not deficit. Deficit is your year-to-year budget shortfall, debt is the accumulated sum of your deficits.