General Category > Economy/Business

Costco warns 'prices will go up' due to new tariffs

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truth_seeker:

--- Quote from: kevindavis on June 04, 2019, 05:11:22 pm ---
But you are OK with Government placing a tax on foreign goods.

--- End quote ---

Sure. Reagan raised tarifs of Jap oods.

https://mises.org/library/ronald-reagan-protectionist

jmyrlefuller:

--- Quote from: kevindavis on June 04, 2019, 04:46:04 pm ---
Question, why do I have to buy American only?

--- End quote ---
Because you're an American citizen. Like taxes, jury duty and the draft... it's a responsibility.

jmyrlefuller:

--- Quote from: kevindavis on June 04, 2019, 05:11:22 pm ---
But you are OK with Government placing a tax on foreign goods.

--- End quote ---
I'd rather have them on foreign than domestic.

thackney:

--- Quote from: truth_seeker on June 04, 2019, 05:24:44 pm ---Sure. Reagan raised tarifs of Jap oods.

https://mises.org/library/ronald-reagan-protectionist

--- End quote ---

Thanks for the link.  Did you read the conclusions at the end?

...The World Bank estimates that import restrictions in 1984 had the same effect as a 66% income tax surcharge on Amer­ica's poorest citizens. Less obvious is the harm to American producers, who lose exports and pay more for capital goods because of protectionism. For example, everyone, including the beleaguered American auto industry, has to pay more for steel because of the Reagan administration's restrictions on imports. Even the steel industry is hurt because artificially high prices stimulate the search for alternative materials.

President Reagan missed a unique opportunity to begin freeing the American economy from the shackles of trade re­strictions. He need not have given the American people a technical lesson in economics. He could have said that free trade requires no more justification than domestic economic freedom; indeed, it requires no more justification than the traditional American values of a humane and open society.

ABX:
Wait, are you trying to tell me that when expenses go up, so do prices?  Wow..

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