Unions force workers to pay bribes—then use the money to elect politicians that support cartels, illegal aliens, higher taxes and policies that kill jobs. Follow the Money.
Politicians take money from unions, then negotiate contracts with them. Follow the Money.
Sacramento kills off cheap and clean energy—then gives tax credits and subsidies to wind turbine and solar panel companies. Follow the Money.
The media either misrepresents or lies about the position of Republicans. In Sacramento there is a bill AB 866, that would use tax dollars to finance the mainstream media. Follow the Money.
FOLLOW THE MONEY
By Richard Colman, Exclusive to the California Political News and Views, 8/5/24 www.capoliticalnewsandviews.com
The candidates are not talking about money.
America’s presidential candidates, if one follows the mass media, are discussing matters of race, abortion, and personalities.
Why aren’t Donald Trump, the Republican nominee, and Kamala Harris, the Democratic nominee, talking about economic growth and lowering the national debt, now $35 trillion?
J.D. Vance, the Republican nominee for vice president, is being quoted about remarks he had made about childless women. As of August 2, 2024, there is no Democratic nominee for vice president.
Both parties are more concerned with protectionism and tariffs.
Trump, for example, wants a 10% tariff on all goods coming into the United States. Harris has not opposed the Biden administration’s tariffs on such items as steel and washing machines.
To understand tariffs, it is helpful to examine the world’s largest economic power: the United States.
Among its 50 states and territories, the U.S. is a gigantic free-trade region. While there are some minor exceptions, shipping a box of books from Arizona to Massachusetts is not hindered by tariffs.
Look at the 10 states that traverse the Mississippi River. Suppose that each state along the way imposed a 10% tariff on $100 worth of merchandise. If a product had a cost of $100 when leaving Minnesota, that cost, because of the 10% tariffs, would be $259 by the time it arrived in Louisiana. The figure of $259 does not cover transportation (including labor) costs.
How many people in Louisiana would want to pay extra for a product coming from Minnesota?
Buyers in Louisiana would boycott products from Minnesota because of the extra costs that the tariffs would impose.
If one owns a smartphone, the parts come from about 45 different nations. If a smartphone were made only with American parts, the item would cost much more (if the product could be made at all).
No one should consider tariffs to be anything but a tax. And taxes inhibit economic growth.
Tariffs (and other trade restrictions) only make sense when national security is involved.
Tariffs on imported automobiles simply protect inefficient manufacturers. Would automobiles that Americans buy be better off if the only vehicle manufacturers were General Motors, Ford, and Chrysler (now Stellantis)? Competition from vehicles made in Japan, Germany, South Korea, and other nations give American consumers better and cheaper products.
Tariffs only raise prices and, hence, are inflationary.
President William McKinley wanted the U.S. government to use tariffs to provide revenue for the federal government.
Later presidents were more open to free trade. Examples of such presidents are Franklin Roosevelt, Harry Truman, Dwight Eisenhower, Ronald Reagan, George H.W. Bush, and Bill Clinton.
China and Russia are enemies of the United States. Barring imports from such nations does make sense.
Under free trade, some workers will lose their jobs. But free trade makes goods and services cheaper for all Americans.
A 10% tariff is what Donald Trump, if re-elected, is proposing for all imports coming into the United States. Trump is sadly ignorant of economics. Trump, like his successor, Joe Biden, is a protectionist. Harris, to date, has been silent on tariffs.
Trump’s 10% tariff plan will invite other nations to retaliate with their own tariffs against American exports. Who knows what Harris, if elected, might do?
American agriculture is the best in the world. With retaliatory tariffs imposed by foreign nations, American farmers will lose business. America is so good at food production that America earns money by exporting food to other nations. America is the world’s bread basket. Trump (and Biden and Harris) ought to remember how good American is at food production.
Free-market advocates like Milton Friedman (a libertarian), Alan Greenspan (a Republican), and Paul Krugman (a partisan Democrat) all support free trade.
If there is a trade deficit with China, floating exchange rates will solve the problem.
Years ago, America had a trade deficit with Japan. Again, years ago, $1.00 bought 360 Japanese yen. Today, $1.00 buys about 150 Japanese yen. The change in dollar-yen exchange rates has made Japanese imports more expensive. To correct the situation, Toyota opened plants in the United States (and hired American workers).
German auto manufacturers opened plants in the U.S. There is a BMW plant in South Carolina and a Mercedes plant in Alabama.
America has had enough inflation. America does not need higher prices.
It’s time that Trump and Harris talked about money.
The analysis of intra state tariffs is not Germain. No country has intra state tariffs. Trump dis float the idea of lower tariffs with foreign countries when he was president, but he wanted a reciprocal agreement. Colman is suggesting that everyone will play fair. There is nothing fair about business especially when you allow politicians to make the business decisions.