I have some questions for our King-to-be about his proposed tax policy. Your Highness, could you please explain the following:
- Given the fact that you campaigned on the promise of reducing government rules and regulations upon profit seeking businesses, please explain how this proposed tax allows you to fulfill that promise.
- What is the moral basis for your belief that having some portion of a final good produced in a country outside the Socialist Democracy of Amerika is wrong and needs to be punished?
- What is the economic basis for your belief that adding a 35% import tax to any final good that, at some point along the way, is touched by the hands of some stinkin' foreigner is a good idea?
- Do you have any idea how many companies have overseas operations? Do you have any idea how many finished goods involve some sort of foreign participation in their production? Do you have any conception of how intricate and detailed the production process for finished goods is?
- How do you propose to track all finished goods in order to determine if any part of that good was produced, assembled or conceived of by people working in a foreign country as a part of an overseas operation of a domestic corporation?
- How large will the new bureau be that overseas your import tax? How many taxpayer dollars will be used to fund the new bureau?
- If overseas operations are immoral, why are you not proposing criminal charges and punishments involving fines and imprisonment for anyone who breaks your proposed rules?
- How are you going to determine if a product is really made overseas? For example, if Ford imports catalytic converters from a plant they own in Peru and installs them on cars sold domestically, will that product be subject to the tax? Will the tax be on the entire product or just the piece of it made overseas? If it is just on the piece of it made overseas do you have any idea how complex that is going to become as each good imported into the SDA will have to be broken down into its constituent parts and analyzed to determine who made it and where it was made?
- Will this new tax be retroactive? If so, how far back are you going to go? If not, why is it fair to allow a company to outsource some of its operations a day prior to the enactment of the new law? Do you see any perverse incentives being created by this new law?