What did the McKinley Tariff do?
The McKinley Tariff Act of 1890 increased the taxes on most imported goods while eliminating taxes on luxury items. The intent was to protect American industries from foreign competition. The outcome was that domestic businesses raised the prices of American products to unaffordable rates.
source https://study.com/academy/lesson/the-mckinley-tariff-of-1890.html
If you google anything related to Tariffs, the fake news and fake academia studies are working hard to slander McKinley and Trump.
Ppl around me are assuming tariffs will increase the price of imports/goods that we cannot afford anymore.
Sounds like bullshit to me, many countries that ripped us off on trade deals, just aren’t gonna get their free lunches anymore. Trump said many countries are hugely reliant on us for many things, like military assistance. Taking that away alone will make them desperate to make better trade deals.
However I’m not too educated on the matter. Could we have a discussion and dig into how tariffs will help is? I wanna educate normies
So yeah what do you guys think?
Tariffs in a total vacuum will increase domestic prices in the short to medium term. And in the long term it will stimulate local manufacturing of that product.
Combine with reduction in regulations; stimulate local manufacturing even more and potentially make the price cheaper.
Combine with increased gas & oil exploration & drilling leases; further stimulate local manufacturing, reduce overall individual expenses, increase individual disposable income.
Combine with reduction/elimination of income taxes; further stimulate local manufacturing, reduce overall individual expenses, increase individual disposable income.
Combine with deportation of 20 million illegal migrants: reduction in local demand lowers prices, reduction in social welfare spending means reduced tax burden, increased law enforcement availability, safer communities.
Doing all synergistically: increase local resource extraction (oil, gas, lumber, metals, minerals, agriculture), increase local manufacturing (all sectors), Increase job market, decrease unemployment, cheaper prices, greater individual disposable income, reduction in social welfare spending, reduced tax burden, safer communities.
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