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Started By
Message
re: Tariffs I urge caution
Posted on 9/24/24 at 1:45 pm to Norbert
Posted on 9/24/24 at 1:45 pm to Norbert
quote:
With tariffs, you’re saying I’m going to protect THESE SPECIFIC jobs.
Right.
It's just like Trump saying that he's going to punish John Deere if it decides to move some of its manufacturing base to Mexico.
Yeah. That does well with the John Deere employees, but it's horrible for the farmers that purchase their equipment and grow food.
0
Posted on 9/24/24 at 1:45 pm to Fat Bastard
quote:
However, when the EU and China responded by devaluing their currency, that approach hit all products imported, not just the tariff goods.
Currency Manipulation is something you have no real control or answer for. However, I would suggest you look at how currently China are doing.
China's Economy falters
Look at post 2022 on the GDP Chart
Posted on 9/24/24 at 1:45 pm to Fat Bastard
quote:
trumps tariffs did not hurt me one iota
It actually reduced import prices.
Why?
Because Trump and his economic advisors predicted how China would respond to tariffs on Aluminum and Steel.
They predicted the Peoples Bank of China would debase their currency. They did.
What happened.
It made the dollar stronger versus the Chinese yuan thus lowering the overall prices on imports from China.
And at the same time it protected Aluminum and Steel in the U.S. for national security reason. We don't want China supplying aluminum and steel for our war machines.
Look, all taxes are bad. And tariffs can be bad if you are not smart about it. At the same time tariffs are a tool that you never take off the trade negotiation table. Only idiots do that.
Posted on 9/24/24 at 1:45 pm to Norbert
quote:
Tariffs destroy jobs, too.
quote:Think that juxtaposition through a bit more.
I’m going to protect THESE SPECIFIC jobs.
Posted on 9/24/24 at 1:46 pm to TigerAxeOK
"Tariffs are a tax on the consumer" is largely a myth, but a good soundbite.
I have worked internationally for decades, shipping to several different countries with various taxes, tariffs, VAT, etc. You start at the price point to consumer and work your way back. If a tax is introduced.......you start at the price point to consumer and work your way back. Usually means I cut my price and the importer cuts his and we reach something close to the price we need. Might be a little higher, but I assure you the manufacturer and the importer eat most of the tariff cost, otherwise, if you passed it on, there would be no market.
Posted on 9/24/24 at 1:46 pm to Zach
Again I'm sharing information trying to point out some historical facts
its not the direct criticism that all of you sensitive pussies act like
The only conclusion I can take from that is you did not read or if you did
do not understand the information
I have stated and restated in this very thread that my first preference and Trump did do some of this in this first term, so I don't think it's unreasonably optimistic to predict
that addressing taxes might be something that the threat of tariffs could help foster agreement
Get the Chinese to tell all the Democrats that are funding to go with the corporate tax breaks and get rid of the tariffs Trump puts into place
but tariffs aren't THE solution Im urging caution,, offering some light reading, historical perspectives
its not the direct criticism that all of you sensitive pussies act like
The only conclusion I can take from that is you did not read or if you did
do not understand the information
I have stated and restated in this very thread that my first preference and Trump did do some of this in this first term, so I don't think it's unreasonably optimistic to predict
that addressing taxes might be something that the threat of tariffs could help foster agreement
Get the Chinese to tell all the Democrats that are funding to go with the corporate tax breaks and get rid of the tariffs Trump puts into place
but tariffs aren't THE solution Im urging caution,, offering some light reading, historical perspectives
Posted on 9/24/24 at 1:46 pm to clamdip
quote:
The reason we aren't in a pure Adam Smith Wealth of Nations argument is one of national security imo. We've sold our souls to China for cheap everything.
Then the costs of the tariffs need to come out of the Pentagon's budget
Posted on 9/24/24 at 1:47 pm to CreoleTigerEsq
quote:
Explain that to job losses that occurred in the steel industry in Michigan, as a result of his tariffs.
quote:
Academic and governmental studies find the Trump-Biden tariffs have raised prices and reduced output and employment, producing a net negative impact on the US economy.
LINK
quote:
The Biden administration has kept most of the Trump administration tariffs in place, and in May 2024, announced tariff hikes on an additional $18 billion of Chinese goods, including semiconductors and electric vehicles, for an additional tax increase of $3.6 billion.
We estimate the Trump-Biden tariffs will reduce long-run GDP by 0.2 percent, the capital stock by 0.1 percent, and employment by 142,000 full-time equivalent jobs.
Altogether, the trade war policies currently in place add up to $79 billion in tariffs based on trade levels at the time of tariff implementation and excluding behavioral and dynamic effects.
Before accounting for behavioral effects, the $79 billion in higher tariffs amounts to an average annual tax increase on US households of $625.
Posted on 9/24/24 at 1:48 pm to trinidadtiger
quote:
"Tariffs are a tax on the consumer" is largely a myth, but a good soundbite.
:dope"
Who pays for tariffs?
Posted on 9/24/24 at 1:48 pm to Aubie Spr96
quote:
Tariffs are taxes on consumers. Nothing more.
Then they’re a voluntary tax. If I don’t want to pay it, I stay away from goods impacted by tariffs.
I don’t get a choice with income tax or social security.
Posted on 9/24/24 at 1:49 pm to SlowFlowPro
quote:
Then the costs of the tariffs need to come out of the Pentagon's budget
Ha, no argument here.
Posted on 9/24/24 at 1:49 pm to TheHarahanian
quote:
Then they’re a voluntary tax. If I don’t want to pay it, I stay away from goods impacted by tariffs.
I don’t get a choice with income tax or social security.
Tariffs cannot replace income tax.
Posted on 9/24/24 at 1:49 pm to trinidadtiger
quote:
Might be a little higher, but I assure you the manufacturer and the importer eat most of the tariff cost, otherwise, if you passed it on, there would be no market.
So you're saying that there is some fat in those margins that are not being ironed out by the free market.
Posted on 9/24/24 at 1:50 pm to NC_Tigah
quote:
quote:
Tariffs destroy jobs, too.
quote:
I’m going to protect THESE SPECIFIC jobs.
Think that juxtaposition through a bit more.
ISWYDT
Posted on 9/24/24 at 1:51 pm to TigerAxeOK
If you remember, Trump knew our corporations had untold billions parked offshore and invested offshore to avoid our corporate tax if they brought it back. He offered an amnesty and some took advantage........and many, instead of investing in the US, simply bought back their own stock. Raising the price of their stock and their stock options.
So that was the carrot, now comes the stick. Arseholes like Apple SHOULD be charged tariffs when they bring it back, they have made a fortune off of manufacturing in china, then using Ireland as a tax haven to park the profits and send the phones to us at a jacked up price to pay little in taxes in the US, and not much manufacturing to boot.
These companies are just rhinos, a placard to say American, when everything they do is offshore.
So that was the carrot, now comes the stick. Arseholes like Apple SHOULD be charged tariffs when they bring it back, they have made a fortune off of manufacturing in china, then using Ireland as a tax haven to park the profits and send the phones to us at a jacked up price to pay little in taxes in the US, and not much manufacturing to boot.
These companies are just rhinos, a placard to say American, when everything they do is offshore.
Posted on 9/24/24 at 1:51 pm to RogerTheShrubber
quote:
:dope"
Who pays for tariffs?
The import company literally cuts the check.
Who pays income taxes?
You literally cut the check.
Who pays corporate taxes?
Your company literally cuts the check.
Posted on 9/24/24 at 1:52 pm to SlowFlowPro
quote:
Tariffs cannot replace income tax.
Why is the federal government so greedy?
Posted on 9/24/24 at 1:54 pm to GumboPot
quote:
The import company literally cuts the check
The consumer pays the excess.
The American consumer. Which makes it a tax on the consumer and a subsidy for woke corporations, who arent going to hire who you want them to hire.
Trumps tariffs were an objective failure if the purpose was to restore mfg.
Posted on 9/24/24 at 1:54 pm to GumboPot
quote:
Why is the federal government so greedy?
This discussion just went through an exponential digression.
From tariffs to income tax to spending.
Posted on 9/24/24 at 1:56 pm to SlowFlowPro
Are you afraid Owlie will be able to do for the politards that which you cannot?
Competition is good normally. Not so sure in this case.
Competition is good normally. Not so sure in this case.
This post was edited on 9/24/24 at 1:57 pm
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