replacing all existing cooperate and excise taxes with tariffs- to give companies incentives to keep jobs in the US?
the goal would be to keep the average taxes the same if a company imports their products.
1. we export nothing basicly
2. the icome tax will make up for what is lost via coperate tax breaks. corperation do hire people
3. if we could get folks working we won’t need to borrow money form china
1. Raising tariffs that high would violate the GATT (General Agreement on Tariffs And Trade) and result in immediate economic sanctions against the U.S. by most other industrialized nations, making it practically impossible to export anything made in the U.S., which would force companies to move all their jobs outside the U.S. They would not be able to keep any jobs in the U.S., because they would not be able to sell anything made in the U.S. anywhere else in the world.
2. Since this would eliminate all taxes on companies which do not import their products (including, interestingly, Toyota, which makes its cars for the U.S. market in the U.S., and does not import them), government revenues would drop greatly, so the government would need to raise taxes on all the humans, including the ones who previously made things for export and were unemployed because there were no longer jobs in the U.S. making anything for export.
3. The U.S. government would no longer be able to borrow from China the money that China makes from things that U.S. companies import, so the U.S. government would need to raise taxes to pay its current expenses, and to pay back the money already borrowed from China, and since it would not be taxing corporations, the government would need to raise taxes on all the humans, including the ones who previously made things for export and were unemployed because there were no longer jobs in the U.S. making anything for export.