Tariffs that protect businesses that are critical to the security of our country are essential.
Foreign countries like China charge a 6.5% tariff, but also a 19% value add tax to sell products in their country. The US historically only charged 6.5%.
Foreign Business compete in our country by paying a 6.5% tariff (tax), but Domestic Businesses, that create jobs for Americans, must pay far more in taxes, like:
- Federal & State income/profits
- Employee Retirement (Social Security 7.5%)
- Employee Workers Comp Insurance (7-25%)
- Unemployment Insurance
- Property Tax
- School District Tax
- Vehicle / Road Tax
- Sales Tax
- & much more.
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Free Trade vs Duties
US Poverty from a global perspective