Article

2017-01-19 Economy

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Posted by g(r)omgoru 2017-01-19 06:38|| || Front Page|| [6 views ] Top

#1 The trouble with the import tax and export credit system now under consideration by House Republicans is simple: it redistributes rewards and penalties arbitrarily.

Err! so what? As long as it's a level playing field within an industry, it doesn't matter. Any and all taxes arbitrarily penalize.

The House is to encourage domestic production by refusing to allow corporations to treat imported items as an expense for tax purposes.
This is a mistake, which I am sure will be rectified. The imported item cost+tariff should be an expense.

Effectively, a GST/VAT at the border, which strikes me as a good solution. And what happens in the EU's so called Single Market.

Posted by phil_b 2017-01-19 07:09|| 2017-01-19 07:09|| Front Page Top

#2 For emphasis: demand domestic content for any electronic component that is used in a weapons system or by the national security functions of the US government.

Posted by Anguper Hupomosing9418 2017-01-19 09:47|| 2017-01-19 09:47|| Front Page Top

#3 demand domestic content for any electronic component that is used in a weapons system or by the national security functions of the US government.

Sounds like a no brainer to me.

But I think these policies should also take into account that with China and some of these other countries we are pitting American workers against foreign workers whose basic human rights are routinely denied. China in particular has been given a pass in this regard. OTOH, American labor unions price their members out of the global labor market. Further, minimum wage laws prohibit workers at the bottom rungs of the ladder from competing against their overseas counterparts. We have people who are homeless and/or dependent on welfare because the value of their labor is less than the minimum wage. Wouldn't we all be better off if they had to settle for what they're worth?

Posted by Abu Uluque 2017-01-19 12:03|| 2017-01-19 12:03|| Front Page Top

#4 ...it would help if 'those in power' didn't flood the low skill market with unlimited labor (uncontrolled immigration), thus dropping the value of such labor.

Posted by Procopius2k 2017-01-19 13:39|| 2017-01-19 13:39|| Front Page Top

#5 ...it would help if 'those in power' didn't flood the low skill market with unlimited labor (uncontrolled immigration), thus dropping the value of such labor.

What are you suggesting, smashing the democratic incubator ?

Posted by Besoeker 2017-01-19 13:43|| 2017-01-19 13:43|| Front Page Top

#6 China in particular has been given a pass in this regard.

The Chinese have a special relationship with the US political system.

Posted by Pappy 2017-01-19 13:53|| 2017-01-19 13:53|| Front Page Top

#7
> good solution. And what happens in the EU's so called Single Market.

Would that not be a good hint that you are incorrect?

Posted by Bright Pebbles 2017-01-19 14:30|| 2017-01-19 14:30|| Front Page Top

#8 Would that not be a good hint that you are incorrect?

No.

I was specifically referring to imports being taxed at the prevailing VAT rate at point of entry, such that they are on an equal tax basis to domestically produced items.

Posted by phil_b 2017-01-19 16:58|| 2017-01-19 16:58|| Front Page Top

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