Comment by 16bytes
7 days ago
> What about the former domestic producers who could not compete, and do not have the skills or capital to find a new job which pays as well?
What about all of the domestic producers of finished goods who can now can not afford their materials and supplies? What about the domestic supplier of that finished goods producer who has their orders cut because the finished goods producer needs to cut production? What about the domestic consumer who'd like to buy those finished goods, but they can't afford it because prices over all have increased? What about the barber shop by the finished goods plant that has to shut down because the finished goods plant cut their workforce by 50%?
100+ years of studying tariffs have shown that they are effective when very narrowly targeted. Otherwise they almost never achieve their stated goal of actually increasing domestic production.
Should we tax goods from Mississippi to NY to save jobs in NYC? After all, wages in NYC are way higher than in MS. Trade with MS pulls down wages with NYC.
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