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"Apart from overestimating America's bargaining position, Trump and his supporters grossly misunderstand the nature of international trade and how Americans have benefited from a system that has allowed us to continually consume foreign goods on credit. While this “benefit” has also placed a cost on domestic industries, I don’t believe that Trump has any idea how a trade war can reduce current American living standards."
"While the Trump tariffs will directly raise the price of imported steel (and indirectly the price of domestic steel), it does nothing about the price of goods made FROM steel. So a domestic manufacturer of home appliances, such as Whirlpool, will have to pay more for steel used to make a refrigerator. But its foreign competitors will be able make refrigerators with untaxed steel and then ship the finished product to the U.S. without facing a tariff. This will give the foreign firm a competitive advantage over Whirlpool both at home and abroad. Whirlpool will shed profits and may shed workers. So whatever advantages are given to steel manufacturers will be paid for by companies and workers that use steel. The problem for Trump is that there are only 140,000 domestic workers in the steel-making industry, but more than six million workers in industries that make stuff FROM steel. (American Iron & Steel Institute)"
March 7, 2018
March 7, 2018
Tenth Amendment Center
Published on Feb 27, 2018
Today is the 404th day that the GOP has failed to repeal Obamacare, but states are continuing to make moves against unconstitutional federal control. In this episode of Tenther Tuesday, Michael Boldin and Michael Maharrey talk about a bill that went to the Alabama governor's desk this week. If she signs it into law, it will encourage the use of gold a silver, and take an important step toward breaking the Fed's monopoly on money. They also talk about several other sound money bills moving forward in other states, along with legislation to promote food and health freedom and limit government surveillance.
Michael Boldin and Mike Meharrey talk about Direct Primary Care, Health care the way it used to be before Obamacare. A way to Nullify Obamacare. States are working on legislation to allow Direct Primary Care to expand.
Affordable care without the need for insurance.
America cannot win a trade war, we have become a service economy, no longer a manufacturing economy. This tariff will try to help the steel and aluminum industry, but we the consumers of every product with steel and aluminium. will pay more. And every industry the buys steel and aluminum will raise the price they have to sell the finished product, because it now cost more.
When these United States, formed the limited power government, the source of funding the government was tariffs, not income tax. The income tax did not come into existence till the Wilson administration, to fund WWI. Thomas DiLorenzo belives that the cause of the Civil war in 1860's was tariffs. There was a spilt between the North and the South. The tariffs hurt the south more than the North. The tariff tax come into the Washington, and the government spent it to the benefit of the North. The South paid more for imported good, that they did not manufacture, since the were an agrarian society that depended on exports to Europe. Since Europe was paying the tax, they had less money to but goods from the South.