Replace Income Tax with Tariffs?

[JustWinBaby]

(06-21-2024, 02:58 PM)Dill Wrote: ??? I thought sales taxes TARGETTED consumers. 

So what's your view of the tariff proposal Trump floated?  

Are your friends at the WSJ down with it?  

Consumers don't pay tariffs, the importer does.  Maybe if you read the WSJ you'd know that. But it's telling you're dumping on the gold standard of financial/market/business news. Which, by the way, is as unbiased and apolitical of news as you're going to find (otherwise all the businesses and investors would quit reading it). Obviously I'm not talking about the editorial section.

Tariffs are usually viewed as anti-growth. But IMO, views may be evolving because I think economists are learning the benefit of trade and outsourcing can take a a few generations to bear fruit (what economists typically refer to as "transition costs", but that's usually considered a short-run effect of less than 5-10 years).

When tariffs are used as a result of dumping or illegal government subsidies (as many claim China does), opinions of economists are much more mixed.