MORE TAX CUTS FOR CORPORATIONS

Buried at the end of a WSJ article this morning, we learn that even though the US has an average (trade-weighted) tariff of a paltry 3.9% (less than the sales tax in most states), companies exporting to the US bilked the Customs Service for some $130 million last year. $103 million of those uncollected duties were for products imported from China. That's a nice tax incentive for companies who opt to produce in China rather than the US.