Tariff Taxes

Tariffs are taxes on products traded between countries. Because some economies have certain production advantages, taxes are placed on imported goods to protect the jobs of domestic producers. Prior to the 1913 income tax, tariffs were the major source of US tax revenues. Implementing currency reform based on the lifehour, the need for tariffs will reduced or eliminated as the currency transactions automatically adjust for the different economic factors exacerbated by dysfunctional currencies.

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