Trade Wars and Tariffs

#7,127
#7,127
SpaceCoastVol said:
It isn't MY plan Chief. But if they truly are leveling the international playing field and have some responsibility for bringing companies back to US soil, I'm good with it. But like other things Trump has done (NATO payments for example) if they DO level the playing field, then like I said, I'm good with them.

It doesn't matter how much money the .gov collects. Until they stop spending more than that, nothing matters. Somehow I guess that your particular ox is getting gored, so that is why all the hate.
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Well HIS plan isn’t legal and it’s DOA. And the results in no way line up with his boasts. The prior ones were struck down and these will be too.
 
#7,131
#7,131
NorthDallas40 said:
Your last sentence is the driver. And I know you you that. Until spending is curbed they will just up spending to consume any revenue increase.
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Deep down, they will never cut the preferences in the tax code. You have RILA and the National Chamber of Commerce that is for child tax credits and EITC. You have Wall Street and the banks all for the stepped up basis, pre tax retirement, dividend and cap gain treatment. You have the insurance companies for pretax medical. REALTORS for home interest deduction. States for SALT,etc. Tech companies for favorable Int'l and cross border transactions. Oil industry for their preferences. Auto industry for LIFO.

Even if you got that fixed, we havent even talked the most powerful lobbying group in Washington that would spend any new revenue (MIC)
 
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#7,133
#7,133
BigOrangeMojo said:
Deep down, they will never cut the preferences in the tax code. You have RILA and the National Chamber of Commerce that is for child tax credits and EITC. You have Wall Street and the banks all for the stepped up basis, pre tax retirement, dividend and cap gain treatment. You have the insurance companies for pretax medical. REALTORS for home interest deduction. States for SALT,etc. Tech companies for favorable Int'l and cross border transactions. Oil industry for their preferences. Auto industry for LIFO.

Even if you got that fixed, we havent even talked the most powerful lobbying group in Washington that would spend any new revenue (MIC)
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ETA: yeah I missed it you had SALT in there.

Oh absolutely. A streamlined tax code only serves the tax payers and nobody with plans for that money care to provide that relief. Were we to have meaningful tax revenue reform is guess the average tax payer wouldn’t need the pretax pressure. And I didn’t see you explicitly mention it but the property tax exemption has zero basis being in the federal tax code.

Also have you heard any of the non serious comments about Trump wanting to do away with federal income tax in like six years? I think that was the time frame. I’ll give that a big Lol!! too
 
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#7,134
#7,134
This blog was referenced in an earlier post where I provided a Fortune article link. It lays out the case that section 122 balance deficits cannot exist in the current macro economic world we live in and thus the bar to implement Trump’s new tariffs had not been met. I guess at this point we just need to wait on the new round of lawsuits.

Guest Post: President Trump Cannot Legally Impose Tariffs Using Section 122 of the Trade Act of 1974

If the Supreme Court strikes down nonreciprocal tariffs imposed under the International Emergency Economic Powers Act (IEEPA), the Trump Administration reportedly plans to re-impose some of the tariffs by citing authorities in other laws.
ielp.worldtradelaw.net ielp.worldtradelaw.net
 
#7,138
#7,138
NorthDallas40 said:
Oh there are more straight forward examples of his hypocrisy I think but yeah it’s probably not his best case to make.
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Maybe not hypocrisy so much as chutzpah. To me it's one of his more astonishing cons. A guy who's the first in his family to be conceived in this country and the first to be raised in an English-speaking household (and whose wife, born and raised behind the Iron Curtain, talks like Natasha Fatale) has persuaded a critical mass of the electorate to accept him as the face and spokesman of Old Stock America (all while portraying his predecessor, a man with roots in Plymouth Colony, as an alien).
 
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#7,139
#7,139
NorthDallas40 said:
And what does that mean exactly? You have impeachment/conviction or you have the 25th. Those are the only two legal methods and neither is likely to occur
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The people of the country are going to have to come together on it. We've been herded into separate and antagonistic groups by the medias of the left and right even though the actual matters which separate us are quite small.

I've said before the only thing dumber than democrats thinking an election will fix trump in two, now less than one, year are Republicans thinking one will fix it in four, three, years.

We've been lucky as a nation to have had such good governance for so long. Now that that good governance is threatened, people are asleep to the threat or unaware that the problem isn't going to fix itself.
 
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