Wednesday, December 5, 2018

Tariff Man

"You can't do this to me. I'm an AMERICAN!"
--Marion Ravenwood (Raiders of the Lost Ark)

Well, the $billions in tariffs may be enriching the federal government coffers, but it reduces prosperity among Americans. As Ron Paul deftly notes, voluntary trade is not a 'raid.' A raid occurs when one party uses violence to confiscate someone else's property. Tariffs are taxes paid by consumers.

Moreover, trade that no longer occurs because of the higher prices involved hurts both sides since they can no longer take full advantage of the productivity gains from specialization.
Tariff-makers are the true raiders. Through taxes, higher prices, and reduced trade, tariff-makers raid standard of living.

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