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Trump tariffs - Single biggest tax increase to Americans since 1993
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Trump tariffs - Single biggest tax increase to Americans since 1993


May 23, 2019, 1:50 PM

https://www.reuters.com/article/us-usa-trade-china-cost/new-tariffs-on-chinese-goods-to-cost-typical-us-household-831-a-year-ny-fed-research-idUSKCN1ST1Q0


"The newest round of U.S. tariffs on Chinese imports will cost the typical American household $831 annually, according to research on Thursday from the Federal Reserve Bank of New York."


Trumponomics - lower corporate taxes and claim tax break victory, then enact the largest single tax levied on American households in 25 years, while simultaneously lying to those Americans by claiming the Chinese pay the tax (taxes are paid by US importing companies, which pass the cost on to consumers).

https://www.cnbc.com/2019/05/16/trumps-tariffs-are-equivalent-to-one-of-the-largest-tax-increases-in-decades.html

"The Treasury Department ranks the combined $72 billion in revenue from all the president's tariffs as one of the biggest tax increases since 1993. In fact, the tariff revenue ranks as the largest increase as a percent of GDP since 1993 when compared with the first year of all the revenue measures enacted since then, according to the data."

"It's certainly not the largest tax increase in history but it does rank among some of the bigger tax proposals over the last 20 years that have raised revenues,'' said Kyle Pomerleau, chief economist with the Tax Foundation.

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The only patriotic action left to us...


May 23, 2019, 1:54 PM

is to vote for someone other than republicans or democrats. Swapping back and forth between the two, under the delusion that such action could possibly make anything better, is dumb as sh*t.

The duopoly is very obviously broken.

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Re: The only patriotic action left to us...


May 23, 2019, 2:26 PM

I've always said, pulling for a political party is like cheering for a football team that plans to climb into the stands and beat the #### out of you after the game is over.

2024 white level memberbadge-donor-05yr.jpg flag link military_tech thumb_downthumb_up

[Catahoula] used to be almost solely a PnR rascal, but now has adopted shidpoasting with a passion. -bengaline

You are the meme master. - RPMcMurphy®

Trump is not a phony. - RememberTheDanny


Re: The only patriotic action left to us...


May 23, 2019, 2:33 PM

The last President who didn't represent a political party was George Washington. He believed that our country should be able to function without them.

In his farewell address he said:

"...the spirit of party, serves always to distract the public councils and enfeeble the public administration. It agitates the community with ill-founded jealousies and false alarms, kindles the animosity of one part against another, foments occasionally riot and insurrection. "


That is still true, the Democratic and Republican party's are unelected person who wield enormous power over our society and politics. Who are these people and why do the have so much power? They control a large part of campaign financing.

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Because millions of Americans fall for...


May 23, 2019, 2:43 PM

The fear-mongering both parties do to scare their constituents into thinking the other party is going to destroy them. Look at this board as an example. GOP loyalists are worse because conservatism tends to generate more loyalty and fear, but they aren't the only ones. We have people on this board who actually believe the Democrats want to destroy America and their way of life.

Okay.

And they're actually reading this right now thinking, "What?! Yes they do! I know it cause my party told me so!"

But plenty of Dem loyalists believe some silly things, too.

2024 white level memberbadge-donor-05yr.jpg flag link military_tech thumb_downthumb_up

[Catahoula] used to be almost solely a PnR rascal, but now has adopted shidpoasting with a passion. -bengaline

You are the meme master. - RPMcMurphy®

Trump is not a phony. - RememberTheDanny


Considered that last time but Gary Johnson was a buffoon.***


May 23, 2019, 4:38 PM [ in reply to The only patriotic action left to us... ]



2024 orange level memberbadge-donor-15yr.jpgringofhonor-jospehg.jpg flag link military_tech thumb_downthumb_up


Justin Amash may run as an Independent.


May 23, 2019, 4:52 PM

He's the Republican from Michigan who is calling for Trump to be impeached.

Wonder where his support would come from?

2024 orange level memberbadge-donor-05yr.jpg flag link military_tech thumb_downthumb_up

All he needs to do is pull enough gop votes in


May 24, 2019, 9:04 AM

MI, maybe even OH, to flip those states blue. Amish can't win the presidency, but he can give horrified republicans a vote they might feel good about.

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Re: Considered that last time but Gary Johnson was a buffoon.***


May 23, 2019, 10:15 PM [ in reply to Considered that last time but Gary Johnson was a buffoon.*** ]

People keep saying that, but he was a fiscally responsible two-term governor as opposed to this current orange fascist buffoon and the queen of corruption. We'd be far better off with him than Trump or Hillary.

2024 white level memberbadge-donor-05yr.jpg flag link military_tech thumb_downthumb_up

[Catahoula] used to be almost solely a PnR rascal, but now has adopted shidpoasting with a passion. -bengaline

You are the meme master. - RPMcMurphy®

Trump is not a phony. - RememberTheDanny


I think Trump has done something which no politician...


May 24, 2019, 8:49 AM

will do. He's renegotiated our trade agreements with Canada and Mexico. Imo, it's too politically risky for a politician to have done it.

I also doubt any politician would have given America this economy.

2024 orange level memberbadge-donor-10yr.jpgringofhonor-clemsontiger1988-110.jpg flag link military_tech thumb_downthumb_up

This is not the best economy we've ever had.***


May 24, 2019, 12:33 PM



2024 white level memberbadge-donor-05yr.jpg flag link military_tech thumb_downthumb_up

[Catahoula] used to be almost solely a PnR rascal, but now has adopted shidpoasting with a passion. -bengaline

You are the meme master. - RPMcMurphy®

Trump is not a phony. - RememberTheDanny


Talking down this good economy is going to be an uphill...


May 25, 2019, 1:22 PM

battle for dems over the next 5.5 years.

2024 orange level memberbadge-donor-10yr.jpgringofhonor-clemsontiger1988-110.jpg flag link military_tech thumb_downthumb_up

Better than the system we have now by a million miles.***


May 24, 2019, 12:48 PM [ in reply to Considered that last time but Gary Johnson was a buffoon.*** ]



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Now the big test is to see if we can elect someone to cut


May 23, 2019, 2:05 PM

spending. lol

2024 orange level memberbadge-donor-15yr.jpgringofhonor-tiggity-110.jpg flag link military_tech thumb_downthumb_up


One day, it will stop all by itself.***


May 23, 2019, 5:05 PM



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Tariffs aren't a short term play....


May 23, 2019, 2:33 PM

If Chinese steel now costs 20% more, then US steel (with higher labor rates paid to US citizens) becomes a better option. This then creates local growth.

The larger picture here is creating a better America by cutting our addiction to cheap, Chinese ####. Will it hurt a little in the short term? Yes. It should create a better, and more self-reliant economy long term.

Only time will tell.

Also, glad to see Reuters ignored the cost of the ACA (aka Obamacare). It was argued as a tax in the SCOTUS when the law was upheld. Therefore it is a tax and in 2016 alone costs taxpayers $110 Billion.

$110B (in 2016 dollars btw) > $72B

HTH.

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Farmers are losing markets for the long term.


May 23, 2019, 4:14 PM

So in that sense, you are correct.

2024 orange level memberbadge-donor-05yr.jpg flag link military_tech thumb_downthumb_up

Maybe we should quit paying them to raise corn and


May 23, 2019, 5:04 PM

soybeans. Or better, in some cases, they are paid NOT to raise corn or soybeans.

There's not many ways a reasonable person can defend the farm lobby.

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That may be, but destroying the market for their crops seems


May 23, 2019, 5:29 PM

a bit excessive, don't you think?

2024 orange level memberbadge-donor-05yr.jpg flag link military_tech thumb_downthumb_up

Labor is a bigger issue than buyers for most crops...


May 23, 2019, 10:04 PM

Need an easier process for migrant workers. We've got about 100 acres of apple orchard in NC along with another 20 acre field that will have cucumbers on it this.

Buyers are the issue, it's pickers.

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You are raising perishable fruits and vegetables


May 24, 2019, 8:56 AM

while I and many others have soybeans, corn, cotton and other machine harvested commodities on our land.

Have you checked those commodities prices lately?

2024 orange level memberbadge-donor-05yr.jpg flag link military_tech thumb_downthumb_up

If no cheap imports to compete against, lnflation goes crazy***


May 23, 2019, 4:40 PM [ in reply to Tariffs aren't a short term play.... ]



2024 orange level memberbadge-donor-15yr.jpgringofhonor-jospehg.jpg flag link military_tech thumb_downthumb_up


The tariffs only apply to China. SE Asian countries will pic


May 24, 2019, 9:06 AM [ in reply to Tariffs aren't a short term play.... ]

k up the slack.

Ain't likely gonna be coming stateside.

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We tried this in 1930 with the Smoot-Hawley Tariff Act


May 24, 2019, 11:35 AM [ in reply to Tariffs aren't a short term play.... ]

Which is now considered one of the major root causes of a full blown depression after 1929, rather than a recession.

https://en.wikipedia.org/wiki/Smoot%E2%80%93Hawley_Tariff_Act

Protectionist trade is a one-way street to economic turmoil.

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Not according to experts who had first hand experience...


May 25, 2019, 1:34 PM

relating to the Great Depression.

“We have tried spending money. We are spending more than we have ever spent before and it does not work. I want to see this country prosperous. I want to see people get a job. I want to see people get enough to eat. We have never made good on our promises. I say after eight years of this Administration we have just as much unemployment as when we started. … And an enormous debt to boot!”

The words are those of Henry Morgenthau Jr. — close friend, lunch companion, loyal secretary of the Treasury to President Franklin D. Roosevelt — and key architect of FDR’s New Deal.

I don't like the tariffs any more than anyone else but I am confident they will work and this economy is exactly the environment which makes them bearable to America. Imo, it's like surgery to remove a malignant growth before it spreads and cripples the body.

I'd say that over half of the people complaining about the tariffs are just not going to be happy with anything Trump does.

2024 orange level memberbadge-donor-10yr.jpgringofhonor-clemsontiger1988-110.jpg flag link military_tech thumb_downthumb_up

Re: Trump tariffs - Single biggest tax increase to Americans since 1993


May 23, 2019, 4:23 PM

By Reuters. LOL! Leftists! Look! China has been eating our lunch for decades, and the trade imbalance has helped China … a state-run economy … build a military, computing and AI infrastructure that rivals, and in some instances exceeds, our capabilities. If we don't correct this, China will just call in the chips one day … and we'll all be learning Mandarin. Don't be so short-sighted! Please!

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Re: Trump tariffs - Single biggest tax increase to Americans since 1993


May 24, 2019, 6:39 PM

raventiger said:

By Reuters. LOL! Leftists! Look! China has been eating our lunch for decades, and the trade imbalance has helped China … a state-run economy … build a military, computing and AI infrastructure that rivals, and in some instances exceeds, our capabilities. If we don't correct this, China will just call in the chips one day … and we'll all be learning Mandarin. Don't be so short-sighted! Please!



That all sounds good, but that $21 Trillion in debt we owe? A large part of it we owe to China. We've been borrowing money from China for decades.

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