In 2007, the Social Security Trustees suggested that either the payroll tax could increase to 16.41 percent in 2041 and steadily increased to 17.60 percent in 2081 or a cut in benefits by 25 percent in 2041 and steadily increased to an overall cut of 30 percent in 2081.
effective rate of protection. the real amount of PROTECTION accorded to domestic suppliers of a final product when a TARIFF is applied to a competing imported final product (see IMPORTS), but either no tariff, or a lower rate of tariff, is applied on FACTOR INPUTS that are imported to produce that product.
Protectionism is an economic policy to restrain certain trade through measures such as tariffs, quotas and regulations. It is often used to discourage imports of certain goods and to protect domestic markets in various ways.Protectionism is often regarded as a barrier to free trade.The word seems to conjure up negative images of isolationism and subsidizing industries that could otherwise not compete fairly against others.t is often used to discourage imports of certain goods and to protect domestic markets in various ways. Protectionism is often regarded as a barrier to free trade. The word seems to conjure up negative images of isolationism and subsidizing industries that could otherwise not compete fairly against others.