Have you seen this Obama commercial?!?Submitted by salberty on Fri, 09/28/2012 - 00:08
This is downright scary. How can the president of the United States have such a disregard of BASIC economics?...I'm talking first couple of chapters of any econ 101 book.
Bragging his support on protectionist tariffs, solely on the grounds that the foreign supplier produces the product more efficiently?!?
He's claiming the tariffs to be good for the inefficient domestic tire producers...maybe. But what about the producers of all other goods which might be purchased by those Chinese tire producers? More importantly, what about the domestic consumers who now face artificially high prices and can now afford fewer goods?
And if this is really good policy, why just target certain goods...why not huge tariffs on all goods? Furthermore, why stop with national tariffs...why not state and local tariffs? Let's put huge tariffs on Florida oranges and Iowa corn, so the other states can create more jobs producing those things poorly. Think of the jobs!