Who are you voting for in 2016?

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(06-09-2016, 06:46 AM)Mikebert Wrote: Actually I would prefer an across the board tariff.  The rate would be set low and continually raised until it reaches the point where revenues are maximized.  That is, the product of tax rate x trade volume is to be maximized.  My gut feeling is such a tax might raise 300-500 billion annually.  Use it to shore up Medicare.  Lots of European countries have value-added taxes (i.e. sales taxes on domestically-produced goods+services).  Republicans love value-added/sales taxes (this was the centerpiece of the Cruz program).  Why shouldn't the US just "go Cruz" on foreign-produced goods+services?

I 'd like to see some analysis on how regressive that tariff would be.

My gut tells me it would hit hard with those that shop at Wal-Mart and the hardest with those that shop the Dollar Store.

If that is the case, it would be also interesting to see how that draining away of purchasing power from low to middle  incomes would further impact demand for domestic goods and services.  

Might be akin to setting the house on fire to stop the termites.