unbeliever Posted July 26, 2015 Share Posted July 26, 2015 What free trade? It's all tied up in legislation, licences, permits, embargoes, sanctions, deals, exchange rates, government red tape, taxes, and, as you say, subsidies and tariffs. Trade hasn't been really free in a long time... No it's not perfect. But the freer the better. Protectionism is bad, more protectionism is worse. Link to comment Share on other sites More sharing options...
Vague_Boy Posted July 26, 2015 Share Posted July 26, 2015 How keen are you to buy British? I'm hoping to buy a British house. Considering the likely cost, I think that's my contribution to buying British covered until the end of the century. Link to comment Share on other sites More sharing options...
Eater Sundae Posted July 26, 2015 Author Share Posted July 26, 2015 This is still all protectionism. Buy whatever is the best product at the best price for your purposes, otherwise you're doing more harm than good. Subsidies and tariffs are also destructive. Free trade is desperately important. It is the main ingredient in peace and prosperity. Everything else is secondary. The UK is a service dominated economy. Simple trade balance calculations don't apply. Keep personal debt and state debt under sensible control and preserve free trade at almost any cost. Otherwise you're heading for disaster. For example, countries taxing imports more highly than local produce is protectionism. Idividuals deciding to buy locally made products is not. Link to comment Share on other sites More sharing options...
unbeliever Posted July 26, 2015 Share Posted July 26, 2015 (edited) For example, countries taxing imports more highly than local produce is protectionism. Idividuals deciding to buy locally made products is not. It has exactly the same effect. Edited July 26, 2015 by unbeliever Link to comment Share on other sites More sharing options...
El Cid Posted July 26, 2015 Share Posted July 26, 2015 For example, countries taxing imports more highly than local produce is protectionism. I dont see anything thing wrong with protectionism, a small tax on everything that enters the UK would be good. The EU has a import duty of €339 per ton on raw cane sugar. I would prefer a small import tax and lower income tax, we end up paying it, whatever is taxed. Link to comment Share on other sites More sharing options...
unbeliever Posted July 26, 2015 Share Posted July 26, 2015 I dont see anything thing wrong with protectionism, a small tax on everything that enters the UK would be good. The EU has a import duty of €339 per ton on raw cane sugar. I would prefer a small import tax and lower income tax, we end up paying it, whatever is taxed. Sales taxes are far less progressive than earnings taxes. Everybody pays about the same proportion of their income in sales taxes. The poorest pay 0-few% NI+Income tax where as the richest pay over 50%. Protectionism inhibits economic growth and makes everybody poorer in the following years. Link to comment Share on other sites More sharing options...
El Cid Posted July 26, 2015 Share Posted July 26, 2015 Sales taxes are far less progressive than earnings taxes. Everybody pays about the same proportion of their income in sales taxes. The poorest pay 0-few% NI+Income tax where as the richest pay over 50%. I would not to use it for protectionism, a rate to replace VAT, so it would not be "less progressive", it would make UK manufactured good more competitive. ---------- Post added 26-07-2015 at 19:10 ---------- Protectionism inhibits economic growth and makes everybody poorer in the following years. Sounds like you are quoting that from somewhere, do you have a link? Link to comment Share on other sites More sharing options...
unbeliever Posted July 26, 2015 Share Posted July 26, 2015 Sounds like you are quoting that from somewhere, do you have a link? It's my own opinion, but I'm confident the best economists would agree. ---------- Post added 26-07-2015 at 19:19 ---------- I would not to use it for protectionism, a rate to replace VAT, so it would not be "less progressive", it would make UK manufactured good more competitive. Damaging to trade. Damaging trade depresses the economy. Link to comment Share on other sites More sharing options...
El Cid Posted July 26, 2015 Share Posted July 26, 2015 It's my own opinion, but I'm confident the best economists would agree. Damaging to trade. Damaging trade depresses the economy. People are my number one concern, not making things easier for multinational companies to trade. When you try and come back from France with 10,000 cigarettes, see if you have free movement of goods, they bend over backwards for the big multinationals, but not for ordinary people. Is the EU can have import taxes, then so too could the UK. Below follows a list of common products and their respective duty rate when importing from China to the EU: Wristwatches: 4.5% (Min: €0.30, Max: €0.80) Tablet PC: 0% Solar Panels: 0% T Shirts: 12% Electric Bikes: 6% LED Bulb Lights: 4.7% Peanuts: 12.8% ---------- Post added 26-07-2015 at 19:36 ---------- Damaging to trade. Damaging trade depresses the economy. I guess the EU is damaging trade Link to comment Share on other sites More sharing options...
unbeliever Posted July 26, 2015 Share Posted July 26, 2015 I guess the EU is damaging trade They are indeed. ---------- Post added 26-07-2015 at 20:20 ---------- People are my number one concern, not making things easier for multinational companies to trade. Free trade serves everybody. We buy from multinational companies. The tariff money doesn't come out of their profits. They pass it straight on to us. They also employ us. Link to comment Share on other sites More sharing options...
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