Wednesday, September 16, 2009

Tariff on imported tires from China-Dumb!

It appears that, in order to appease the Unions, our goverment is about to put a Tariff (tax) on tires imported from China. This only shows the igrnarance of this administration, in running our country. If they new their History, they would know, that in 1930, the Hawley-Smooth tariff act was, in fact,what prevented this nation from coming out of the depression> This act, the Tariff act of l930, helped to prolong the Great Depression and even as the bill was introduced for signing, over 1,000 economists pleaded with President Hoover not to sign it. Against their cries, he went ahead and signed subject tariff act. In response, the nations of Europe devalued their currency, making their products cheaper on the world market. As a consequence. the European nations were outsel- ling us. Because of this act, we could not compete on the world stage, in the market place! In part, because of this act, our efforts to get us out of the depression, was prolonged making the New Deal, turn into a Raw Deal. We got out of the depression not because of any economic improvements but because of WWII. Taxing anyone/anything can be a two edge sword and, in fact, it never has been shown that taxing is economically advantages. China will respond accordingly! http://themessengerpage.blogspot.com, The Messenger

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