This 2014 Investorâs guide to tax reporting was prepared to help you understand the data on your Consolidated Form 1099 and related statements for reporting income from REMIC regular interests and other CDO investments on your federal income tax return.
Tariffâs increase the cost of imports, leading to a decline in consumer surplus. For example, UK consumers have lost out from EU wide tariffs on agricultural products. Many agricultural goods are more expensive because of the high tariffs placed to protect EU farmers. It is hard to think of any benefits from tariffâs for consumers. Maybe in the long run consumers benefit from the protection of domestic industries if these industries use the tariffs to improve. Domestic Producers, who produce the good, will benefit from the introduction of tarrifs.
The tariff history of the United States spans from colonial times to present. The first tariff law passed by the U.S. Congress, acting under the then recently ratified Constitution, was the Tariff of 1789. Its purpose was to generate revenue for the federal government, and also to act as a protective barrier around domestic industries. An Import tax was collected by treasury agents before goods could be landed at U.S. ports. Tariffs have historically served a key role in the nation's foreign tra