Sunday, May 22, 2005

Should've Imposed an Import Tax

Yes, they're forbidden by the Lords of Free Trade, but look what we've done now. We told China to revalue their currency to increase prices on textile faced by US consumers, and instead they've imposed an export tax. As I advocated before, we should've just imposed an import tax - that way we would've gotten the tax money. Effect on prices would've been the same, but the duties would've filled our Treasury's coffers instead of China's.

But, that would be Wrong, because free trade is good except when it isn't an oh I'm so confused...