John Stossel

The Post also claimed that Congress's power to suspend tariffs "cost taxpayers hundreds of millions of dollars in lost revenue." But anyone who thinks tariffs are good for taxpayers needs to wake up and smell the money. The only way a tariff can produce tax revenue is by forcing consumers to pay more for things they want. So whatever taxpayers seem to gain through tariffs is cancelled out by what consumers lose in higher prices. Defenders of tariffs look at only one side of the ledger while pretending that a dollar in your pocket is equivalent to a dollar in a government account. I'd rather have the dollar in my pocket.

I am sympathetic with those who dislike the influence-peddling involved in selective tariff suspensions. But there's an easy answer to that: Get rid of all tariffs permanently!

A free and competitive economy -- meaning free trade and no tariffs -- is the best deal for consumers. So let's get the politicians out of the way. If they have no privileges to dispense, no special interests will be lining up to influence them.


John Stossel

John Stossel is host of "Stossel" on the Fox Business Network. He's the author of "No They Can't: Why Government Fails, but Individuals Succeed." To find out more about John Stossel, visit his site at >johnstossel.com. To read features by other Creators Syndicate writers and cartoonists, visit the Creators Syndicate Web page at www.creators.com. ©Creators Syndicate