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re: Thomas Sowell criticizes the tariffs President Trump instituted
Posted on 4/3/25 at 6:21 pm to Rip Torn
Posted on 4/3/25 at 6:21 pm to Rip Torn
quote:
If retaliatory tariff threats cause other nations to drop or greatly reduce their tariffs then said businesses could move their production back to the US since said additional costs no longer exist.
They can also keep their production where it is and find other markets to sell to. Ones that may be willing to incentivize their doing so. It’s a big world with lots of opportunity. We’re already seeing nations have these conversations.
1
Posted on 4/3/25 at 6:23 pm to Figgy
This is a different time. Trump is simply doing what other countries have alreadt done to us. Get a fricking clue.
Posted on 4/3/25 at 6:23 pm to roadGator
i never thought I'd see the day that constant cough was an annoying troll such as yourself.
Posted on 4/3/25 at 6:24 pm to Seldom Seen
Poor OP, stupid fggot.
Posted on 4/3/25 at 6:26 pm to cajunangelle
Hey Donna,
How you been?
I always ask about you when you call out for me.
Hope you’ve been well.
How you been?
I always ask about you when you call out for me.
Hope you’ve been well.
Posted on 4/3/25 at 6:29 pm to Robin Masters
quote:
When the other country drops their tariffs and stops manipulating their currency/subsidizing their industries their imports are less competitive and so manufacturing returns.
And you think these countries are just going to give up so easily?
Some of them are already banding together as a way to defeat America and these tariffs. He should've never rolled them all out at once. Dimb
Posted on 4/3/25 at 6:39 pm to Seldom Seen
I like Thomas Sowell, but I find that he's being pretty sheepish. There's nothing wrong with applying pressure to your economic partners.
Like it or not, we need to try different strategies to bring production back to the US. If tariffs help achieve that, then I'm okay with some economic pain in the short term for long term benefit.
I remember when NAFTA was introduced and China relations normalized. I thought it was a bad idea then, and I think that policy is a bad idea now. Yeah, it gave us cheaper goods, but at the cost of productivity. All we've done over the last three decades is strengthen the rest of the world and consolidate wealth into fewer and fewer hands domestically. China, would be irrelevant were it not for US consumerism. But now they're seemingly #2 on the world stage economically and militarily. I don't know about you, but I think that's an awful turn of events for us.
I support the Trump tariffs. Even if it means a downturn in the economy in the short term.
Like it or not, we need to try different strategies to bring production back to the US. If tariffs help achieve that, then I'm okay with some economic pain in the short term for long term benefit.
I remember when NAFTA was introduced and China relations normalized. I thought it was a bad idea then, and I think that policy is a bad idea now. Yeah, it gave us cheaper goods, but at the cost of productivity. All we've done over the last three decades is strengthen the rest of the world and consolidate wealth into fewer and fewer hands domestically. China, would be irrelevant were it not for US consumerism. But now they're seemingly #2 on the world stage economically and militarily. I don't know about you, but I think that's an awful turn of events for us.
I support the Trump tariffs. Even if it means a downturn in the economy in the short term.
Posted on 4/3/25 at 6:42 pm to DrrTiger
quote:
He didn’t really refute the effectiveness of tariffs
He most certainly did.
Posted on 4/3/25 at 6:42 pm to Chalkywhite84
No one said it would be easy, just necessary.
We do hard things sometimes because it’s required to make things right.
We do hard things sometimes because it’s required to make things right.
This post was edited on 4/3/25 at 9:35 pm
Posted on 4/3/25 at 6:43 pm to Goforit
quote:
This is a different time.
Fine. I don't particularly care.
quote:
Trump is simply doing what other countries have alreadt done to us.
There's some truth to that. Not so sure about tariffing the penguin island that Australia oversees just for one example of how sloppily this was done.
quote:
Get a fricking clue.
Dude, I make more money with tariffs because my cost of goods goes up and I just pass that along. So my $5 widget becomes $5.50 and I'm now marking up whatever I feel like on a $5.50 item. Let's say 40% because I really don't work for less than that and oftentimes much more than that. A $5 widget has a sell price of $8.33 netting $3.33 per widget. A $5.50 widget becomes $9.17 netting me $3.67 per widget. Thanks for giving me an 11% pay raise for doing absolutely nothing special.
But that doesn't mean it will be good for the economy at large. I want certain industries here producing domestically. But not everything needs to be here.
ETA: Lets say that company I sold the widget to also passes these costs along and they also worked off of 40% margins.. The widget that you, as a consumer, used to purchase for $13.88 is now $15.28. So you're paying 10% more for no reason other than the company wanting to maintain their margins.
This post was edited on 4/3/25 at 6:48 pm
Posted on 4/3/25 at 6:44 pm to Seldom Seen
"Now, insofar as he's using these tariffs to get various strategic things settled and, and that he is satisfied with that."
Quite vague, but he seems to admit that tariffs can be used in a carrot/stick sort of way, which I am assuming is how Trump will use them. We will see if he can get whatever he is after and if, afterwards, things return back to normal.
Quite vague, but he seems to admit that tariffs can be used in a carrot/stick sort of way, which I am assuming is how Trump will use them. We will see if he can get whatever he is after and if, afterwards, things return back to normal.
Posted on 4/3/25 at 6:45 pm to Seldom Seen
2025 the year everbody became an pro economist.
Posted on 4/3/25 at 6:45 pm to Ricardo
quote:
All we've done over the last three decades is . . . consolidate wealth into fewer and fewer hands domestically.
That’s 30+ years of low marginal tax rates and trickle down economics.
quote:
China, would be irrelevant were it not for US consumerism. But now they're seemingly #2 on the world stage economically and militarily.
They have 4 times our population. The fact we are still number 1 with models questioning if China will ever overtake us is . . . was . . . an incredible American accomplishment.
quote:
Like it or not, we need to try different strategies to bring production back to the US. If tariffs help achieve that, then I'm okay with some economic pain in the short term for long term benefit.
Like it or not, we aren’t manufacturing bananas in America.
These tariffs are a poorly designed intervention by Washington busy bodies who can’t leave well enough alone.
Posted on 4/3/25 at 6:46 pm to Bass Tiger
quote:
VATs increase the price of US products for consumers in other nations, tariffs and VATs are cumulative cost increases on US products.
Yes, but VAT's increase the cost of all goods sold in other nations, not just goods imported from the US. They are not the same, and should not be treated as such.
Posted on 4/3/25 at 6:49 pm to Seldom Seen
These people don't get it. Thomas Sowell included. Trump does not want Tariffs. Amazing that people are beating up on Trump for promoting tariffs when in reality he is trying to remove tariffs.
Countries across the planet have been hitting us with tariffs and we have sat back and just let them screw us over. Trump is saying we are the big hitter on the block and flexing our muscle to get them to lower their tariffs. It really isn't that hard to understand.
Countries across the planet have been hitting us with tariffs and we have sat back and just let them screw us over. Trump is saying we are the big hitter on the block and flexing our muscle to get them to lower their tariffs. It really isn't that hard to understand.
Posted on 4/3/25 at 6:53 pm to omegaman66
It’s a goddamn American right to have our products tariffed by other nations. The more our goods are tariffed, the more freedoms we have. Capitalism and free trade thrive on other countries slapping tariffs on our goods and services while we bend over and say “thank you sir”
Posted on 4/3/25 at 7:42 pm to SlowFlowPro
quote:
So they have nothing to do with "bringing jobs back"?
How can you so blatantly misinterpret a simple statement?
Posted on 4/3/25 at 7:45 pm to Seldom Seen
He’s absolutely right.
If Trump leans into tariffs, he risks sabotaging the very foundation of his economic legacy. Trade restrictions will weaken the market’s natural efficiency, distort prices, and invite retaliation — all of which could drag down growth and consumer confidence.
The GOP will likely pay the price in the midterms, and any chance at a broad-based economic resurgence will evaporate.
The one thing his presidency cannot afford is a faltering economy. Yet, if this continues, that’s exactly what we’ll see.
It’s fundamentally flawed economics — protectionism masquerading as strength.
If Trump leans into tariffs, he risks sabotaging the very foundation of his economic legacy. Trade restrictions will weaken the market’s natural efficiency, distort prices, and invite retaliation — all of which could drag down growth and consumer confidence.
The GOP will likely pay the price in the midterms, and any chance at a broad-based economic resurgence will evaporate.
The one thing his presidency cannot afford is a faltering economy. Yet, if this continues, that’s exactly what we’ll see.
It’s fundamentally flawed economics — protectionism masquerading as strength.
This post was edited on 4/3/25 at 7:47 pm
Posted on 4/3/25 at 7:47 pm to Hayekian serf
Is there a link to all the countries that Trump imposed tariffs on?
Posted on 4/3/25 at 7:47 pm to omegaman66
quote:
These people don't get it. Thomas Sowell included.
Some dipshit on a message board knows economics better than Sowell.
Not a cult!
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