Peter C. Earle and Dorothy Chan

Peter C. Earle and Dorothy Chan Articles

Tariffs as a Substitute for Income Taxes? An Economic Reality Check
By Peter C. Earle and Dorothy Chan - December 18, 2024
US president-elect Donald Trump has floated a seemingly radical policy idea, although it goes back to the early days of the American nation: financing the Federal government with revenue from tariffs rather than income taxes. 
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In 1792 the U.S. Congress adopted a bimetallic standard (gold and silver) for the new nation's currency - with gold valued at $19.30 per troy ounce

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