This would be a 35% tax on all Americans—a tax that especially hurts low-income families. Maybe the slogan should be #MakeAmericaVenezuela.https://twitter.com/realdonaldtrump/status/805380553008680961 …
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Read the book you recommended - don't get the "wealthier elites" outcome - help?
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Government intervention (e.g., tariff) puts elites and their lobbyists in charge. They limit competition to detriment of public.
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Seems like "elites" can just move manufacturing to other countries to take advantage of wages, taxes and free trade agreements
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Yes, but they gain much more simply by staying here and using govt to limit foreign competition—at the expense of all Americans.
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I need to think this through - the book makes you look for all outcomes - obvious and not so obvious! Good read
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Thanks for checking it out. When I have a town hall in your area, I'd be happy to have a big conversation about it.
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what was the book?
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Economics in One Lesson by Henry Hazlitt
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You obviously don't remember the auto bailout. America's buying habits WILL adjust.
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American auto bailout not only saved jobs but the loans were repaid.
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Clarification: the chart is of the sale of assets (stock) owned by the US Government.
@Alathena is correct that the "loans" were repaid. -
But the US government lost money on the bailout nevertheless, because of loss of value on the stocks.
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35% increase in tax doesn't lead to 35% increase in final price because market demand is elastic.
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Increase in price = [coeff. of demand elasticity] x [35% increase in tax]. This means less consumption -> good for environment.
End of conversation
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post some stats. Maybe read "opening americas markets" by Alfred Eckes
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u no nothings
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