The Chinese VAT alone, which doesn’t apply to their exports to us, continues to put us at a competitive disadvantage in all areas. We argue for free trade, but accept foreign value added fees that smell like tariffs, even though they are also imposed within the country. Same deal in Europe.

Some suggest a VAT here, which would devalue savings and hit spenders (poor and middle class) with the prospect for pushing lower taxes that are progressive.

Should we answer VATs with tariffs or concessions, rather than using taxpayer money to subsidize the disparities in trade policy? Pure socialist and pure capitalists have totally different views on that question.

Dude, I’ve worked outdoors at 48C and you can take it from me: it really, really gets your attention.

I was expecting a frightening tale of runaway global climate change.