S5E18 - The Power to Tax (or Tariff?)
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S5E18 - The Power to Tax (or Tariff?)
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The power to tax is the power to destroy, or kill. But for most of U.S. history, tariffs were the primary means by which the federal government acquired revenue. Yet, since the introduction of the income tax in 1913, tariffs have fallen by the wayside. Only recently have tariffs returned from the dead, causing great consternation and debate. But what is a tariff and how does it work? Furthermore, how were tariffs viewed in the past and why did the U.S. switch to the income tax? Join me as I discuss these questions on today's episode.
And, as always, if you have any questions or comments, please email me at thegbgpodcast@gmail.com.
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