Mercantilist tariffs (as opposed to tariffs as foreign policy tools) are purely protectionist, designed to punish competitors for competing. They’re not only aimed at foreign competition, either, as Europe’s auto industry is demonstrating [emphasis added].
Auto makers in Europe eager to boost sales of their electric vehicles have a new strategy: demanding higher taxes on conventional vehicles that burn gas and diesel fuel.
The top executives at several car and truck makers are calling on European governments to introduce the new taxes on carbon-dioxide emissions from gasoline- and diesel-powered cars and trucks as a way to help their EVs better compete.
Recall that the Progressive-Democrat-controlled Congress and President Joe Biden (D) enacted a $1.9 trillion Wuhan Virus Relief bill that contained a sliver of money for actual virus-related relief. The bill also included $12 billion in transfer payments for New York to “assist” that State with its budget.
The Democrat-controlled New York legislature has passed a budget deal that includes a $2.1 billion fund for illegal immigrants—including a one-time, $15,600 payment for those who lost their job during the pandemic.
Treasury Secretary and ex-Federal Reserve Chairman Janet Yellen opened her Wednesday Wall Street Journalop-ed with this:
When Congress enacted the Tax Cut and Jobs Act of 2017, the result was a dramatic reduction in corporate tax revenue. Over the past three years, corporate tax collections have fallen to their lowest level since World War II: 1% of gross domestic product.
Amazingly—shockingly—Yellen wrote that as if it were a Bad Thing.
Then she partially rationalized her disparagement with this:
New York Governor Andrew Cuomo and state legislators are close to reaching a budget agreement that would raise taxes on residents earning over $1 million.
If approved by the Democratic governor and Democrat-controlled legislature, New York would become the state with the highest personal income tax rate in the country.
The budget measure also includes increasing the state’s corporate tax rates….
The Wall Street Journal‘s Editorial Board, in their Tuesday piece, wrote strongly about CEOs vs Shareholders in the context of the CEOs’ (among others)…disingenuousness…regarding Georgia’s newly enacted voting law, which expanded access to ballots and to the voting process while tightening the integrity of both.
The question is much broader than that, though.
President Joe Biden (D), with his blatant lies regarding Georgia’s election law, his open advocating for business boycotts of Georgia, while simultaneously scoffing at the idea of boycotting the People’s Republic of China’s Olympics—or anything else PRC—demonstrates his strong preference for the PRC government over the citizens of Georgia and of America.
…is no longer America’s Pastime. Although it has become the Extreme Left’s Woke-time and it comes with a measure of naked racism.
These are some demographics for Atlanta, GA, which was going to host major league baseball’s All Star game and for Denver, CO, which now is going to host that All Star game, after baseball’s management team, led by Robert Manfred, unilaterally chose to take the game away over Manfred’s angst from Georgia’s new voter law. Since that law expanded voter access to ballots and to voting generally while increasing the integrity of both, and since Colorado’s voter law is substantially identical to Georgia’s new law, I have to wonder what Manfred has against minorities or against blacks in particular.
Here’s what Moody’s Analytics said about President Joe Biden’s $2.2 trillion American Jobs Plan Spend-a-Thon to which is attached some bucks for actual infrastructure work:
The firm estimated that the US economy will add roughly 16.3 million jobs between the fourth quarter of 2020 and the fourth quarter of 2030. If Biden’s proposal were to pass, Moody’s Analytics economists estimated that the US economy would add 19 million jobs over the same time period—indicating the proposal would be responsible for about 2.7 million jobs.
A letter writer in Sunday’s Wall Street Journal‘s Lettersnoted that
In the 2020 election, the US Chamber of Commerce backed 23 incumbent House Democrats, 15 of whom won. Six of the 15 won narrowly, by 3.3% or less. Without those six seats, Nancy Pelosi wouldn’t be speaker. The chamber helped hand her the gavel.
The consequences were predictable. House Democrats have passed the PRO Act, ““a labor-rights bill that would roll back many of the policies the chamber has supported for decades” (U.S. News, March 13). Without any Republican support, House Democrats passed HR1, the misnamed For the People Act, which the chamber “strongly opposes.”