Trudeau decided to go ahead with retaliatory tariffs even though Trump’s order includes a mechanism to escalate the rates if Canada retaliates against the U.S.
Back in 1890, there was no income tax. The federal government was funded through tariffs. With the upcoming rewrite of the tax code, the current administration needs new revenue, and trariffs are one of the few the president cab levy unilaterally.
Back in 1890, there was no income tax. The federal government was funded through tariffs. With the upcoming rewrite of the tax code, the current administration needs new revenue, and trariffs are one of the few the president cab levy unilaterally.
Tariffs are essentially a shitty sales tax. I’ve read it described as a way to switch the US federal funding from I come tax to a hidden sales tax.
The revenues will also be much much lower, which is why they need to eliminate every federal bureau.