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by otterley
421 days ago
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> The U.S. had virtually no engagement with the world outside the western hemisphere between the GOP’s formation in 1854 and World War I. That’s not true. For example, there’s the Treaty of Wanghia (1844), the Treaty of Kanagawa (1854), the Treaty of Amity and Commerce (1858) the annexation of Hawaii (1898), the Open Door Policy (1899), and the Philippine-American War followed by our nearly 50-year possession of it. > Between Lincoln’s election in 1861 to World War I tariff rates exceeded 40% Until the Sixteenth Amendment which permitted the collection of income taxes, tariffs were the primary means of funding the Federal government. Also, protectionism was the global standard before WWII, so we were in good company. But, like the gold standard and mercantilism, it still wasn’t an economically efficient thing. We get rid of antiquated ideas for good reason and to make the world better and more prosperous. |
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You can yell “economic efficiency” until you’re blue in the face, but most of the country isn’t buying that. You may well be right but the only way to know is to try change and see what happens.