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Cake day: August 3rd, 2023

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  • VAT is a universal tax on goods. A tariff is basically a tax that applies only to imported goods. So a tariff distorts the market, making imports from a region more expensive relative to other regions, or domestic goods.

    Note that basically any tax is bad from an economic perspective. However for the government to function revenues must be raised. It is considered better for market efficiency to raise revenues in such a way as to least distort the market. Tariffs are a very distorting instrument, VAT is generally considered less distorting because it affects all parts of the market equally.


  • Are we painting Stalin as a good guy here? He only fought Germany because they tried to invade. Before that he repeatedly made attempts to court Nazi Germany. He signed a nonaggression pact, made an agreement to secretly divide Eastern Europe together, and continued trading. Stalin didn’t really give a shit about the fascism part, he only cared once his own territory and sphere of influence were threatened. Same as all the other major allies, btw. Everyone tried appeasement first, nobody really cared about the fascism.

    “Saving Europe from Hitler” paints it as a selfless act of heroism when really everyone was mostly concerned with maintaining their own power.