United States – Trade Tariffs

February 2, 2025

[memberonly]

United States

Trade Tariffs

Padmini Arhant

[memberonly]

In the latest executive order on trade tariffs, the price hike expected on goods imported from the tariff hit trade partners such as Canada, Mexico and China as well as any other nation in the near future could be mitigated with tax cuts if not tax elimination committed by the new administration.

The burden on American consumers already enduring the inflation surge, high interest rates and higher income taxes from the previous administration’s bad economic policy and misappropriated spending calls for streamlining excess and wasteful government expenditure.

It appears the new administration has already directed measures in that respect which is welcoming in one aspect.

As such, reducing taxes and complete exemption on all goods and services leaving the hard earned money with citizens to improve their lives and enhance economic future in business and other tangible investments would be prudent solution.

Citizens generated lawful income should remain with them and not be forced to be handed over to civic and other government authorities leaving the original source, the citizens in eternal financial decline and debt ridden existence.

The taxes collected by local to federal authorities entrenched in massive bureaucracy and quid pro quo deals with visible and shadow deal brokers in the absence of transparency and accountability in government agencies and apparatus is a serious economic impediment for citizens to gain financial security at anytime in life.

Minimal government intervention in citizens’ economic and social structure would enable public to charter the course suitable and appropriate to their needs and aspirations.

Those in the middle to highest positions in government having left public service on taxpayers’ funded privileges and benefits post terms in office are extraordinary.

The luxury on the backs of the hardworking population is no longer affordable and impetus relieving the latter from such obligation.

Given the enormous wealth and financial status usually acquired in the government positions and private contracts with economic sector, the continuation of emoluments and extended facilities such as private security and other extravagance at taxpayers expense is inappropriate.

In terms of economic inequality, the Social security benefit contributed towards the retirement savings by ordinary citizens is calculated on the basis of their working life contributions and paid accordingly as a fair assessment not barring taxes and deductions that had been increased under the previous administration.

Whereas, in the government high-profile positions and legislative branch including any and all government body receive lifetime benefits on their limited time / terms in public service paid for by the ordinary citizens, who are denied such equivalent financial aid lasting lifetime otherwise received by the former regardless of their tenure.

Notwithstanding, the trend contradictory to equity factor in the past administration’s DEI policy propagated as equity distribution in society.

People’s money left with people is fundamental towards individual and collective economic progress.

Instead, the local to federal authorities’ disproportionate arbitrary taxing including property taxes etc. cause significant financial problems with the fair portion in business and personal income absorbed in taxes.

The lack of checks and balances in the system squandering public taxpayers money in foreign wars and other misallocations have severe economic ramifications on citizens at generational level. 

Taxes initially introduced by colonizers, Kingdoms and feudalists are basically the guaranteed lifelong financial security for those living off the ones toiling day and night over generations. It is slavery of population in the modern era.

The elimination of taxes would be the ultimate economic freedom for hard working citizens contributing to the economy across the spectrum.

The government in return engineering methods to generate income via revenues from trade activities, and pioneering strategy similar to a corporation in the private sector building and strengthening their economic prospects by manufacturing and / or sale of goods and services in the market place is the sustainable path towards collective prosperity.

Furthermore, earn your living and keep the hard earned fruits of labor inspire and enforce economic independence rather than dependence on taxpayers funded government charity not necessarily utilized for best financial appreciation.

The same would apply to governments to function well within means with efficiency and invest in citizen’s life, the infrastructure in local community, state and national projects.

Importantly, abolishing taxes would also significantly curtail corruption at all levels of bureaucracy and government machinery transcending economic dealings and transactions in general society.

The tariffs replacing taxes is a way forward for the producer and buyer of products facilitating revenues and savings to the original producer and retail customer in start to finish economic activity.

Padmini Arhant 

Comments

Got something to say?

You must be logged in to post a comment.

PadminiArhant.com