The Decline & Fall Of The American Empire

**oladub** · January-01-11, 12:51 PM

firstand ten, An impressive list of vital statistics. It looks like we are close to flatlining but defibrillation won't help until the hemorrhaging is staunched. NAFTA, GATT, etc. have proven destructive to the patient's health. I prescribe a dose of import taxes to replace some middle class income taxes. Since the old medicine wasn't working, it's time to change the prescription.

**firstandten** · January-01-11, 04:43 PM

Originally Posted by oladub

firstand ten, An impressive list of vital statistics. It looks like we are close to flatlining but defibrillation won't help until the hemorrhaging is staunched. NAFTA, GATT, etc. have proven destructive to the patient's health. I prescribe a dose of import taxes to replace some middle class income taxes. Since the old medicine wasn't working, it's time to change the prescription.

Agreed, we need to get to the root of the problem, unfortunately our economy is in such a fragile condition we can't afford to upset any of our trade partners with import taxes

**oladub** · January-01-11, 05:22 PM

Originally Posted by firstandten

Agreed, we need to get to the root of the problem, unfortunately our economy is in such a fragile condition we can't afford to upset any of our trade partners with import taxes

Why not? Those trading 'partners' are the present beneficiaries while US workers and taxpayers are the present losers. How else are we going to get at the root of the problem?

**firstandten** · January-01-11, 06:49 PM

Originally Posted by oladub

Why not? Those trading 'partners' are the present beneficiaries while US workers and taxpayers are the present losers. How else are we going to get at the root of the problem?

I guess my concern is a sparking of a trade war in which we don't have a lot of leverage. But as you stated we may be at a point where we don't have good options other than import taxes

**oladub** · January-01-11, 07:43 PM

Originally Posted by firstandten

I guess my concern is a sparking of a trade war in which we don't have a lot of leverage. But as you stated we may be at a point where we don't have good options other than import taxes

From your post #70

#17 The United States spends approximately $3.90 on Chinese
goods for every $1 that the Chinese spend on goods from the United
States.

China has much more to lose so I think we have the leverage. We might lose a customer for our treasuries though. Hillary pointed out something about not upsetting one's banker. It's like a chess game. We have to somehow balance our budget to not be vulnerable to the actions of our bankers in order to exploit our trade disadvantage leverage. However, if we maintain the status quo, we are financially doomed.