If we were to do away with the 16th Amendment, thereby eliminating Federal income taxes, could the gov't make up the lost revenue via tariffs on imports (or some other method which creates American jobs)?
Seems like a win to me, but I don't know where to start to find the right stats.
No . $2.5 trillion in imports * 24% (average income tax) = $600 billion (US dollars) out of $4.79 trillion federal BUDGET .
At what level do you think imports would stop and be more profitable to produce within and therefore skip tax? Ye probably way lower than 24% since the average import tariff now is 2.0 percent.
Oh and BTW ... Only SOCIALISTS believe the government can create JOBS. In capitalism the government CAN ONLY DESTROY them by imposing RESTRICTIONS the PEOPLE CREATE JOBS not THE GOVERNMENT.
"At what level do you think imports would stop and be more profitable to produce within and therefore skip tax? Ye probably way lower than 24% since the average import tariff now is 2.0 percent."
This is how it creates American jobs, producing within.
Maybe. But still that answered the question regarding income tax. The only proper way of creating jobs is innovation and undercutting foreign imports by BEING MORE EFFICIENT. I'm certain you don't want to compete with concentration camp labour force on price ... even with the added tariffs .