46 Comment by Clyde Wilson on 17 September 2009:
Esteemed Mr. Piatak at #42. There is a contradiction in your observation. The tariff as a source of government revenue and the tariff as protective of domestic industry work in contrary directions. It was traditionally free traders who wanted the tariff as the support of the government. Under real free trade it is a fair consumption tax. “Free traders” advocated the income tax as a remedy and rectification after decades of “tariff protection” had drawn wealth from the farmers to the plutocrats. Not to mention the plutocrats’ vast direct and indirect subsidies from the government and their complete control of the currency and credit of the country. I would certainly prefer subsidising an industrialist who actually makes something to subsidising a bureaucrat, but in either case it is robbery by legislation.