Favorable trade is one of the reasons the US is now the richest country in the world. Should we have strong industrial policy to make sure crucial domestic industries are supported? Yes!!
Should we think carefully about tariffs which pass costs directly to average citizens (who generally hate inflation).. yes
Agreed. Not sure China hasnt dislodged us from #1 though. But the long range effect of tarrifs will take it out on the usual saps-us. Trump has established his business acumen numerous times with bogus products. Bibles, anyone?!
Re "making a foreign country pay": This is completely false. He is not "making a foreign country pay". That's the point of the original post. He's making AMERICAN COMPANIES pay. That's literally what tariffs are.
I’ve explained how he is making the foreign country pay clearly enough over several posts. At the end of the day, US tariffs result in China getting less tax revenue and US getting more tariff and tax revenue, all else being equal. This is indisputable economics and practically the same as China paying US. What part of the italicized claim do you disagree with? It’s not inconsistent with some American consumers paying more for some goods, nor does it rule out many other side effects.
For days, you've been trying to convince people that US corporations paying additional taxes, and by extension US consumers paying additional taxes, to the US is actually China paying taxes to the US... LOL. Is your first name Donald by any chance?
Everyone knows how tariffs work. The point is to make it harder for American companies to do business with foreign suppliers. This will hurt those foreign economies and lead to more American manufacturing. Also fewer drug dealers and gang bangers.
Tariffs don't make it harder for American comanies to do business wirh foreign companies. What they do do is make it harder or more expensive for American consumers to afford to buy the products from (certain) foreign companies and countries that they (the American consumers) have been using in the past. The other issue that I see that can damage an economy (slower growth?) is that the lag time/start up time for American companies to be able to produce a similar product (at a reasonble price) is not immediate, it is not like flipping a switch. This will cause shortages which also drive prices up. Combine this with the stated "mass deportation of millions" of undocumented workers from America ( as in who will fill the jobs that they are doing?) andit seems like a perfect storm for sky-rocketing prices...(not to mention that corporations with exploit these issues to raisee prices more than the cincreased osts that they have incurred...)
I’ve explained how he is making the foreign country pay clearly enough over several posts. At the end of the day, US tariffs result in China getting less tax revenue and US getting more tariff and tax revenue, all else being equal. This is indisputable economics and practically the same as China paying US. What part of the italicized claim do you disagree with? It’s not inconsistent with some American consumers paying more for some goods, nor does it rule out many other side effects.
For days, you've been trying to convince people that US corporations paying additional taxes, and by extension US consumers paying additional taxes, to the US is actually China paying taxes to the US... LOL. Is your first name Donald by any chance?
Your reading comprehension stupidity is not my problem or worth my time. I’ve explained myself clearly and stand by it. Basic economics isn’t a matter of opinion.
For days, you've been trying to convince people that US corporations paying additional taxes, and by extension US consumers paying additional taxes, to the US is actually China paying taxes to the US... LOL. Is your first name Donald by any chance?
Your reading comprehension stupidity is not my problem or worth my time. I’ve explained myself clearly and stand by it. Basic economics isn’t a matter of opinion.
It's all right there, Donald. LOL! What an airhead.
Genuine question here from a neutral observer. Interest payments on US National Debt now exceed defense spending. One of the largest expenditures after Social Security & Healthcare. Will the tariff revenues not at least help to pay that?
(Ignoring the costs transferred to US Companies / Consumers)
If not, what methods would be more effective at tackling the national debt problem? A wealth tax? I feel like higher income taxes benefit wage-earners, while the truly wealthy can horde wealth and earn passive income from the returns.
I’m not very political and definitely not an economist- just wondering about this.
Trump isn't even in office yet and nobody knows what he's going to do, but he was voted in and Dimms were kicked out because they created a complete mess...end of story.
Your reading comprehension stupidity is not my problem or worth my time. I’ve explained myself clearly and stand by it. Basic economics isn’t a matter of opinion.
It's all right there, Donald. LOL! What an airhead.
Your reading comprehension stupidity is not my problem or worth my time. I’ve explained myself clearly and stand by it. Basic economics isn’t a matter of opinion.
Genuine question here from a neutral observer. Interest payments on US National Debt now exceed defense spending. One of the largest expenditures after Social Security & Healthcare. Will the tariff revenues not at least help to pay that?
(Ignoring the costs transferred to US Companies / Consumers)
If not, what methods would be more effective at tackling the national debt problem? A wealth tax? I feel like higher income taxes benefit wage-earners, while the truly wealthy can horde wealth and earn passive income from the returns.
I’m not very political and definitely not an economist- just wondering about this.
To my knowledge tariff revenues are not earmarked for anything specific and can be used toward the national debt.
How to tackle the debt problem is a good question, which there doesn't seem to be a easy answer to.
The debt ceiling slows it down but never stops it. It's been increased 100+ times since inception.
Some other options could be a wealth tax (you mentioned), improved govt efficiency, attempting to eliminate deficit spending, higher corp tax rates, debt forgiveness.
Corp tax rates have fluctuated over the years, and in recent year have been 21% which is on the light side historically.
$4 trillion of US Treasuries are held by the US Federal Reserve Bank. In theory the Fed could forgive those debts. (not saying this is a good idea).
National debt is a complex problem and any solutions likely come with known and unknown consequences.
Genuine question here from a neutral observer. Interest payments on US National Debt now exceed defense spending. One of the largest expenditures after Social Security & Healthcare. Will the tariff revenues not at least help to pay that?
(Ignoring the costs transferred to US Companies / Consumers)
If not, what methods would be more effective at tackling the national debt problem? A wealth tax? I feel like higher income taxes benefit wage-earners, while the truly wealthy can horde wealth and earn passive income from the returns.
I’m not very political and definitely not an economist- just wondering about this.
well sure tariffs are a tax paid by US citizens and companies, so yes, that will go to pay the government's bills.
The trick is that higher prices paid for goods (as a result of tariffs) could cause inflation, which is not good.
And if we put on tariffs, so will other countries, which would reduce economic activity (because of higher prices), which would surely *reduce* tax income. Which would increase the deficit and debt. It's a balance. Some taxes are needed....but too much tax reduces economic activity.
Everyone knows what we have to do to fix the debt...adjust social security (raise the eligibility age) and medicare (same), freeze the defense budget, and stop cutting taxes. It isn't all that hard to conceive of or talk about, but our democracy is so weak that our voters refuse to vote for candidates who will fix the problem, and indeed punish politicians who even talk about fixing the problem. We are a deeply unserious nation.
This post was edited 1 minute after it was posted.
Thanks for the 1% and 1.3% down correction for Biden " economics". Albeit Republicans claim worst inflation in USA history. I do remember 1974 and 1980.
Bottom line is the hard math data adding Trump "economy'" 60% tariff or 200% on a John Deere is true inflation a farmer in Iowa can't possibly buy.
If Republicans think, yes the farmer can afford it, explain to me how when Ag commodities are subsidised already. Which I point out above, Republicans don't want big government in the free market. If Republicans do want government in market, then they are communist like China.
We need common sense and work together. Otherwise, we will end up like Russia, Venezuela and N.Korea. Or even worst Middle East. Trump is already planting the seeds with his daughter-in-law heading up RNC and "Barron 2052" after the two other half brother dimwits.
Let me add another very simple example of adding tariffs hurts ALL runners Republicans cannot ignore, deny, fake, lie ect. RUNNING SHOES !!!!
Republicans will be happy to pay 60% more for a pair of Alpha Fly next % gen 4 for "only" $600 bucks to run a 24 flat Turkey Trot next Thanksgiving.
Ok with you Republicans? Lets see how you explain your way out of thjs. Let.me guess, " Nike is making huge profits and that's what Republicans stand for a free market".
Thanks for the 1% and 1.3% down correction for Biden " economics". Albeit Republicans claim worst inflation in USA history. I do remember 1974 and 1980.
Bottom line is the hard math data adding Trump "economy'" 60% tariff or 200% on a John Deere is true inflation a farmer in Iowa can't possibly buy.
If Republicans think, yes the farmer can afford it, explain to me how when Ag commodities are subsidised already. Which I point out above, Republicans don't want big government in the free market. If Republicans do want government in market, then they are communist like China.
We need common sense and work together. Otherwise, we will end up like Russia, Venezuela and N.Korea. Or even worst Middle East. Trump is already planting the seeds with his daughter-in-law heading up RNC and "Barron 2052" after the two other half brother dimwits.
Let me add another very simple example of adding tariffs hurts ALL runners Republicans cannot ignore, deny, fake, lie ect. RUNNING SHOES !!!!
Republicans will be happy to pay 60% more for a pair of Alpha Fly next % gen 4 for "only" $600 bucks to run a 24 flat Turkey Trot next Thanksgiving.
Ok with you Republicans? Lets see how you explain your way out of thjs. Let.me guess, " Nike is making huge profits and that's what Republicans stand for a free market".
Nike makes huge profits by using slave labor and exploiting the "brown people" you spend your life pretending you care about.
If you weren't a hypocrite and a fool you'd be mad at Nike not the guy trying to level the playing field. Nike's profit margin is like 40%. They make the absolute trash over at Apple look human.
Let me add another very simple example of adding tariffs hurts ALL runners Republicans cannot ignore, deny, fake, lie ect. RUNNING SHOES !!!!
Republicans will be happy to pay 60% more for a pair of Alpha Fly next % gen 4 for "only" $600 bucks to run a 24 flat Turkey Trot next Thanksgiving.
Ok with you Republicans? Lets see how you explain your way out of thjs. Let.me guess, " Nike is making huge profits and that's what Republicans stand for a free market".
Nike makes huge profits by using slave labor and exploiting the "brown people" you spend your life pretending you care about.
If you weren't a hypocrite and a fool you'd be mad at Nike not the guy trying to level the playing field. Nike's profit margin is like 40%. They make the absolute trash over at Apple look human.
Sweat shops are much better than subsistence farming. Nike has done more to alleviate human suffering 99% of other companies.
Nike makes huge profits by using slave labor and exploiting the "brown people" you spend your life pretending you care about.
If you weren't a hypocrite and a fool you'd be mad at Nike not the guy trying to level the playing field. Nike's profit margin is like 40%. They make the absolute trash over at Apple look human.
Sweat shops are much better than subsistence farming. Nike has done more to alleviate human suffering 99% of other companies.
Me a libertarian: “people should be allowed to voluntarily enter employment agreements”
Nike makes huge profits by using slave labor and exploiting the "brown people" you spend your life pretending you care about.
If you weren't a hypocrite and a fool you'd be mad at Nike not the guy trying to level the playing field. Nike's profit margin is like 40%. They make the absolute trash over at Apple look human.
Sweat shops are much better than subsistence farming. Nike has done more to alleviate human suffering 99% of other companies.
Yes Apple puts nets around the buildings because so many people are killing themselves rather than stay at work because everyone is having a great time...
Sweat shops are much better than subsistence farming. Nike has done more to alleviate human suffering 99% of other companies.
Me a libertarian: “people should be allowed to voluntarily enter employment agreements”
AdultInTheRoom, a communist: 😡😡
The libertarian that demanded 2 year olds be force injected with experimental vaccines and demanded these 2 year olds wear masks while playing outside in their own yards...
Genuine question here from a neutral observer. Interest payments on US National Debt now exceed defense spending. One of the largest expenditures after Social Security & Healthcare. Will the tariff revenues not at least help to pay that?
(Ignoring the costs transferred to US Companies / Consumers)
If not, what methods would be more effective at tackling the national debt problem? A wealth tax? I feel like higher income taxes benefit wage-earners, while the truly wealthy can horde wealth and earn passive income from the returns.
I’m not very political and definitely not an economist- just wondering about this.
Yes, tariffs especially on China will almost certainly increase gross national wealth, a measure that includes government tax revenue.
Let me add another very simple example of adding tariffs hurts ALL runners Republicans cannot ignore, deny, fake, lie ect. RUNNING SHOES !!!!
Republicans will be happy to pay 60% more for a pair of Alpha Fly next % gen 4 for "only" $600 bucks to run a 24 flat Turkey Trot next Thanksgiving.
Ok with you Republicans? Lets see how you explain your way out of thjs. Let.me guess, " Nike is making huge profits and that's what Republicans stand for a free market".
Nike makes huge profits by using slave labor and exploiting the "brown people" you spend your life pretending you care about.
If you weren't a hypocrite and a fool you'd be mad at Nike not the guy trying to level the playing field. Nike's profit margin is like 40%. They make the absolute trash over at Apple look human.
You didn't answer the question. Rather pivoted. Yes or no a simple answer.
Again, would Republicans pay $600 added 60% tariff?
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