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by rayiner
420 days ago
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Look, people on both sides of the aisle are happy with the status quo, even though our policies have consistently moved in the direction economists say is more “economically efficient.” On one side, people disagree with the economic consensus that investment and corporate taxes are inefficient, and want to raise those to force investors and capital holders, rather than consumers, to shoulder a larger share of the tax burden. On the other side, people disagree with economics on free trade, and want to reduce America’s dependence on foreign manufacturing. 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. |
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Did you mean unhappy? That's always true of a democratic system. Making everyone happy is impossible, so we strive for something that tries to make everyone equally unhappy (if not in kind, then at least in degree).
> You may well be right but the only way to know is to try change and see what happens.
I don't think that's necessarily true. Logical people can follow the math. And if people can look past their own biases and limited horizons (which I know is not always possible), they will also clearly see that the world as a whole is much better off, and that even if they feel poorer, they themselves are objectively better off from a quality of life perspective, especially when compared to previous generations. I realize it's a difficult sell, but it is true.
The downside risk of erecting barriers is much worse than the upside risk. For those of us approaching retirement without a guaranteed pension to look forward to, the prospect of having our savings significantly diminished is incredibly scary. And poor people should be frightened, too, because maintaining their existing standard of living (which, BTW, is much better than it ever was, historically) is about to become much more difficult.
I've never seen a cogent and defensible theory of a nation that's economically and socially better off for most as a result of putting up higher barriers to trade and immigration. ISTM anyone who wants to eliminate free trade is cutting off their nose to spite their face.