Subject: Re: Buffett’s view on current account deficits
OK, first of all, I am against the recent tariffs for a nummber of reasons.

That said, Jims statement:
"I estimate a US national VAT of 5-7% on all goods and services (other than the usual like food and rent) would make the debt problem go away."

If we change to word "VAT" to tariffs on "all" goods (figuring that the vast majority of "goods" are made from imported content if not imports themselves), what would the pragmatic difference be?

Jeff