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Clemson Icon [24771]
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Trump admin says Trump's "tariffs are a tax cut for the American people and
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Mar 11, 2025, 4:16 PM
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a tax hike on foreign countries that again have been ripping us off."
Could anyone explain this?
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Clemson Icon [27555]
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Re: Trump admin says Trump's "tariffs are a tax cut for the American people and
Mar 11, 2025, 4:24 PM
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It's nuts. He also said that the tariffs that Canada is putting on us will be paid for by the tariffs we put on them starting in April. He doesn't think consumers will pay.
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Clemson Icon [24771]
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It seems that lies and misinformation is the new coin of the realm in
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Mar 11, 2025, 4:33 PM
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Republican circles. Stand before the camera and let it fly.
Are people stupid enough to buy into it?
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Ultimate Clemson Legend [108946]
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Warren Buffett said to heck with this, I'm standing on the sidelines
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Mar 11, 2025, 4:53 PM
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and watching. he started raising his cash position several years before the housing crisis, and at the dot com bubble, just before. But this takes the cake, and was done VERY fast relative to his other cash-outs. He knows. Jamie Dimon at JPMC sold a ton of stock recently in February, over $200 million in his JPM own stock.
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Athletic Dir [1101]
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Paw Master [16461]
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Ultimate Clemson Legend [108946]
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Most countries use tariffs selectively, to mainly protect domestic industries.
Mar 11, 2025, 5:19 PM
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It's NOT a big deal, until you get a bull in the China shop who wants a trade war and feels slighted. Countries who export to the US do so because they can. If China has a labor surplus, and has tons of skilled workers, they can make iPhones for US consumers. Apple can manufacture the phones in China, and with their labor, in excess and cheaper than in the US, they can make it far cheaper, so we get a $1K iPhone instead of a $3K iPhone.
LIKEWISE, something China makes a lot and is an important domestic industry, like say pork production. US does too. So China enacts tariffs on US pork to keep their farmers working, and producing pork. US, we have tariffs on cane sugar. We don't produce cane sugar, but we have corn, and farmland, and farmers. SO, back in the 1980's we tariffed cane sugar at 14% or higher, and this made corn sugar (HFCS) grown by American farmers cheaper, so that's why it's in Coca-Cola instead of cane sugar.
Bu tth strength of the dollar leads to trade deficits with countries because the dollar is so strong it appeals to everyone. So everyone is willing to export to the US because we will pay dollars, and that hurts American industries because the dollar goes miles in Vietnam, China, Korea, etc, but goes to bankruptcy in the US making the same product.
Our trade deficits have evolved and grown for decades because we have learned we can deflate the dollar here at home by importing cheaper goods, this deflates the value of the domestic dollar, and keeps inflation VERY LOW, keeping debt cheap, which we can then issue more of, from Congress to your credit card. It really s a win/win system, and promotes peace worldwide, and has enriched America FAR beyond any level of wealth we could create for ourselves. It's all great until two things happen. One, debt is abused (Congress, sub-prime mortgages, etc.). Second abuse is when some populist opportunist comes along and tells American's we've suffered from importing more than we could ever produce ourselves, and doing it cheaper as well.
It is a great system until we screw it up, and we have, both of the worst ways.
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Paw Master [17337]
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Why do other countries levy taxes on us?
Mar 11, 2025, 4:58 PM
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To punish their citizens?
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Orange Blooded [2529]
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Re: Trump admin says Trump's "tariffs are a tax cut for the American people and
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Mar 12, 2025, 7:56 AM
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Please, do not bother to dissect the semantics.
This is classic Trump. He’s been doing this since the 80s.
He outfitted his condominiums in New York with the cheapest trashiest lowest cost fixtures, and then ran around town telling everybody that is competitors had the cheapest trashiest lowest cost fixtures.
Sensible people spotted this guy as a Street level con man back in the 80s.
Don’t waste your time dissecting his BS.
He knows what he says is BS. He knows his supporters are stupid.
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