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41
A new cryptocurrency reporting law went into effect that allows you to turn anyone into a felon : (twitter.com)
posted 2 years ago by IlhansBrother 2 years ago by IlhansBrother +41 / -0
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– Kaarous 9 points 2 years ago +9 / -0

Tariffs are an opportunity cost to hedge against the heedless import of foreign goods, since the main beneficiaries of that commerce are outside of the nation.

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▲ 8 ▼
– Ahaus667 8 points 2 years ago +8 / -0

And it still ends up with government funding, tariffs were the main source of government income for a good portion of American history

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▲ 8 ▼
– Kaarous 8 points 2 years ago +8 / -0

Which isn't especially relevant.

Taxation is extraction of wealth from your own population. This is self defeating because economics is subtractive. Even if it wasn't stealing from your own, it'd still be a bad idea.

Tariffs, and several other things in history besides(like the Roman habit of pillaging nearby countries), are extraction of wealth from foreigners.

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▲ 7 ▼
– Ahaus667 7 points 2 years ago +7 / -0

You forget that tariffs are paid by the consumer, not the producers.

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▲ 2 ▼
– Kaarous 2 points 2 years ago +2 / -0

Yes that's the point. Making foreign goods more expensive means that the price of said goods increases, incentivizing domestic goods. The ideal scenario is one in which foreign products are largely unviable.

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