Did aluminum tariffs gain or lose $900,000 per worker in the USA?
The Chicago Tribune article titled, Steel tariff math: 1 job equals $900,000, reports: “US consumers and businesses are paying more than $900,000 for every job saved or created by Trump tariffs.”
The Purpose of This Post
Is to make aware that each job created in the USA offsets the amount the USA has to pay for social benefits to support a worker and family who is out of work and does not pay taxes.
Stay away from a foolish man; you will gain no knowledge from his speech. (Proverb 14:7)
Excerpt Gils Bible Commentary
“and thou shalt not know the lips of knowledge”, or learn anything by him; if you have a mind to be ignorant, “
In a lawsuit the first to speak seems right, until someone comes forward and cross-examines. (Proverb 18:17)
What’s My Point?
The reason Trump is imposing tariffs is to benefit the USA in the future. In other words, when trade balances are not balanced, it means in the case of China the one half trillion US dollars will be spent in China instead of the USA.
When you consider how one half trillion dollars being spent In the USA to either workers to support themselves and pay taxes, plus compare the modern infrastructure of China to the present detereating in USA, it presents a different view from a foolish provocative news article headline.
Read the article in depth which gives further information presented by the AMM, Alliance for American Manufacturing which is “someone comes forward and cross examines” as the above wisdom proverb advises.
Also keep in mind that there are numerous people who are making a fortune in both China and the USA from manufacturing a product in China and paying a Chinese worker $200 a month, to make a product for $5.00 and selling the product for $40 in the USA.
Plus, the failed theory of Globalization because wiser and smarter countries all know that favorable trade balances favor their country more than countries like the USA that has an annual trade balance deficit.
In My Opinion
In the coming weeks, keep in mind that tariffs will increase the cost of a lot of products and will be s small sacrifice for USA buyer in the short term but benefit in the long term.
Read the articles in a number of much more detailed previous posts on the subject of trade imbalances in the Source Links below.
Would the USA benefit more with balanced trade, jobs, and infrastructure ion the future?
Is wiser to pay a for social services for the unemployed than to pay a few bucks more for a TV, smart phone, toys, or T-shirt’s which is the majority of short-term use products being imported to the USA and contributing to the majority of unbalanced trade?
Will USA tariffs result in long term gains rather than long term losses?
Wise or foolish Chicago Tribune aricle heading?
Regards and good will blogging.