A "border adjustability tax" of all things- wow- how clever of the simpletons...and of course all the revenue will be squandered on nothing, it's just seed money to increase their spending power and thereby extort more money from industry lobbyists.
So basically a 15-35% tax on imports and an equivalent subsidy for exports.
Quite a bit different from a VAT despite misdirection to the contrary.
That would lead to somewhat interesting times, since every trade agreement explicitly prohibits either side from pulling stuff like that, so countervailing duties would certainly be applied to remove the distortions, but whatever... more work for the lawyers and accountants.
--sp
Where's the tea party when you need them?
The full title is "the mad hatters' tea party" and they were the guys who couldn't put up a candidate more attractive than Trump.
Trump doesn't run Congress. The Republican party is behind this bill. A few short years ago the Tea Party would have sat in the road to block a bill that raised tax even 1 penny including losing tax deductions like this.
Tired.
Cheers, James Arthur
Thanks Fred. You're right, it's a boneheaded idea.
Cheers, James Arthur
We had one here in Boston. I hear it was definitely the party of a lifetime.
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