Trade Wars and Tariffs

#3,902
#3,902
MontyPython said:
Just having a bonanza of fun junking Orangeblob's stupidity. That's all.

RE: Tariffs replacing income taxes... brother... FFS. Please, please PLEASE don't believe a ****ing word that moron Trump says. There's no way on God's green Earth that tariff revenues will EVER replace much less even come close to offsetting income taxes.

Death and taxes, my friend. You can count on those. Trump? Not so much.

From CNN:

"...No one likes paying income taxes. But any plan to replace them with tariffs as a source of government revenue would be riddled with problems.

To start, tariffs would need to be exceedingly high — significantly higher than the already historic levels at which the Trump administration has set them today.

The federal government raises about $3 trillion a year from income taxes. The United States also happens to import around $3 trillion worth of goods annually. So that means tariffs would have to be at least 100% on all imported goods for the levies to replace income taxes, said Torsten Slok, chief economist at Apollo Global Management, in a note to investors.

The United States’ effective tariff rate now stands at 22.8%, according to Fitch Ratings. So to take the place of income taxes, tariffs would need to be more than four times higher than they are now — and America’s new tariff rate is already by far the highest of any developed country and has threatened to plunge the US and global economies into a recession.

But replacing all that tax revenue is not even as simple as doubling the price of everything that comes into America, Slok notes: As prices rise, demand trails off. That’s why America’s largest companies this earnings season have said that Trump’s trade policies are raising costs and leading consumers to spend less on practically everything — from airline tickets to burritos.
https://www.cnn.com/2025/04/25/economy/trump-time-interview-tariffs

“The math just doesn’t add up,” said Erica York, vice president of federal tax policy at the Tax Foundation. “Not even close.”

The tariffs already imposed and scheduled to take effect will bring in just $170 billion in annual revenue, the Tax Foundation estimates — taking into account reduced demand for goods that higher prices would create. That’s well short of the amount of federal income taxes America brings in each year.
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That is why it needs to go against Principle and not some scheme to replace taxes.
 
#3,904
#3,904
Another "deal"... AKA tariff, no tariff, delayed tariff, tariff, no tariff... who can keep track?

WASHINGTON, April 28 (Reuters) - President Donald Trump's administration will move to reduce the impact of his automotive tariffs on Tuesday by alleviating some duties imposed on foreign parts in domestically manufactured cars and keeping tariffs on cars made abroad from piling on top of other ones, officials said.

"President Trump is building an important partnership with both the domestic automakers and our great American workers," Commerce Secretary Howard Lutnick said in a statement provided by the White House.

The Trump administration...

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#3,905
#3,905
MontyPython said:
Another "deal"... AKA tariff, no tariff, delayed tariff, tariff, no tariff... who can keep track?

WASHINGTON, April 28 (Reuters) - President Donald Trump's administration will move to reduce the impact of his automotive tariffs on Tuesday by alleviating some duties imposed on foreign parts in domestically manufactured cars and keeping tariffs on cars made abroad from piling on top of other ones, officials said.

"President Trump is building an important partnership with both the domestic automakers and our great American workers," Commerce Secretary Howard Lutnick said in a statement provided by the White House.

The Trump administration...

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🤣 😂 😂🤡
 
#3,906
#3,906
MontyPython said:
Trump... the self-proclaimed "King of Debt" is gonna pay down our nation's debt principle?

Hell. Frozen.
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Being worried about the national debt is like being worried about the sun not rising the next day. It's fear mongering for the dumb. In fact every single thing Trump is trying to do to reduce the debt is in fact exasperating issues that one might belive comes with a high debt. People need to realize the USA ain't Comoros..we'll be just fine if our leadership isn't too retarded.
 
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#3,907
#3,907
FLVOL_79 said:
Being worried about the national debt is like being worried about the sun not rising the next day. It's fear mongering for the dumb. In fact every single thing Trump is trying to do to reduce the debt is in fact exasperating issues that one might belive comes with a high debt. People need to realize the USA ain't Comoros..we'll be just fine if our leadership isn't too retarded.
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Wow, you have been fully big government brainwashed. Our leadership has been full on retarded for decades and we won’t be “fine” at the current rate we are adding debt.
 
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#3,911
#3,911
Wireless1 said:
Why should we be mad? I love this approach. If/When the tariffs are removed/lowered this line item will be adjusted. And just like sales tax, why should we not know and choose where we get our goods from?
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Because Trump has been constantly repeated the falsity that tariffs are paid by foreign countries rather than by American importers who pass the cost to the American consumer, and a large percentage of your MAGA brethren chose to believe the lie.
 
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#3,912
#3,912
businesses should also show how much inflated union wages, minimum wage, taxes, gov't regulations, environmental regulations.....add to what consumers pay


 
#3,914
#3,914
Amazon will display how much of the price of an item is due to Trump's tariffs. And of course the administration doesn't like that.

 
#3,916
#3,916
evillawyer said:
Amazon will display how much of the price of an item is due to Trump's tariffs. And of course the administration doesn't like that.

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I see... I see something... I see Pam Bondi announcing an investigation into Amazon in the near future.

crystal-ball-fortune-teller.gif
 
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#3,917
#3,917
evillawyer said:
Amazon will display how much of the price of an item is due to Trump's tariffs. And of course the administration doesn't like that.

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amazon is playing politics....why didn't amazon show price increases Biden's inflation caused? Why not show how gov't required taxes as social security taxes employers have to pay increase what consumers have to pay...how much does $20/hr minimum wage increase the price consumers pay.....how much do corrupt environmental laws increase how much consumers pay...how much gov't bureaucracy increase how much consumers pay?

.....and consumers do not have to pay price increases...buy made in USA instead.

...and how do we even know the numbers amazon shows are even accurate?
 
#3,918
#3,918
jmacvols1 said:
amazon is playing politics....why didn't amazon show price increases Biden's inflation caused? Why not show how gov't required taxes as social security taxes employers have to pay increase what consumers have to pay...how much does $20/hr minimum wage increase the price consumers pay.....how much do corrupt environmental laws increase how much consumers pay...how much gov't bureaucracy increase how much consumers pay?

.....and consumers do not have to pay price increases...buy made in USA instead.

...and how do we even know the numbers amazon shows are even accurate?
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This is just another tax. Amazon shows me the price it charges and the sales tax that's added on to the product. Why can't it tell consumers how much this tax is as well?
 
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#3,919
#3,919
jmacvols1 said:
amazon is playing politics....why didn't amazon show price increases Biden's inflation caused? Why not show how gov't required taxes as social security taxes employers have to pay increase what consumers have to pay...how much does $20/hr minimum wage increase the price consumers pay.....how much do corrupt environmental laws increase how much consumers pay...how much gov't bureaucracy increase how much consumers pay?

.....and consumers do not have to pay price increases...buy made in USA instead.

...and how do we even know the numbers amazon shows are even accurate?
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Tariffs are easily quantified and tracked. Plain and simple. Sorry you wasted your time asking all these questions.
 
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#3,920
#3,920
evillawyer said:
This is just another tax. Amazon shows me the price it charges and the sales tax that's added on to the product. Why can't it tell consumers how much this tax is as well?
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why stop with what sales taxes add to consumer's cost...why not show what inflation, gov't regulations, union wages, minimum wage, social security taxes all add to consumer's cost?
 
#3,922
#3,922
hog88 said:
Wow, you have been fully big government brainwashed. Our leadership has been full on retarded for decades and we won’t be “fine” at the current rate we are adding debt.
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Why won't we be fine? What happens if we keep adding debt? Prices go up? Already happening. Economy might tank? Ah f$ck it that had to happen every few years anyway right? Interrat rates go up? Check.
 
#3,923
#3,923
jmacvols1 said:
why stop with what sales taxes add to consumer's cost...why not show what inflation, gov't regulations, union wages, minimum wage, social security taxes all add to consumer's cost?
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Sales tax is a tax directly paid by the consumer, tariffs are a tax (when passed on by the importer) directly paid by the consumer.

Everything else you listed is not.

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#3,924
#3,924
DinkinFlicka said:
Tariffs are easily quantified and tracked. Plain and simple. Sorry you wasted your time asking all these questions.
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you failed to explain why inflation, gov't regulations and required taxes, etc, etc should not be shown to consumers in how these things add to what consumers pay. And I still do not know that Amazon is going to be honest with the numbers they post.
 
#3,925
#3,925
jmacvols1 said:
why stop with what sales taxes add to consumer's cost...why not show what inflation, gov't regulations, union wages, minimum wage, social security taxes all add to consumer's cost?
Click to expand...
This is a cost that's directly added to the value of the item imported, just like a sales tax. None of those other are like that.
 
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