Trump proposes trillions in new taxes
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Is it foolish?
Not entirely. There are two instances where I think tariffs are desirable:
- Predatory trade. When countries do things like dumping product (i.e. Chinese steel) to create or enhance their domestic industries.
- To protect strategic domestic industries (i.e. chip manufacturing).
@Jolly said in Trump proposes trillions in new taxes:
Is it foolish?
Not entirely. There are two instances where I think tariffs are desirable:
- Predatory trade. When countries do things like dumping product (i.e. Chinese steel) to create or enhance their domestic industries.
- To protect strategic domestic industries (i.e. chip manufacturing).
I don’t believe anyone disputes your first point. The second however could be and is debatable when certain allies and trade treaty parties are either involved or could be adversely affected.
Given Trump’s dubious track record on trade issues, I cannot accept that his understanding of trade and tariffs extends beyond that of a retail store clerk or fast food and beverage server.
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@Jolly said in Trump proposes trillions in new taxes:
Is it foolish?
Not entirely. There are two instances where I think tariffs are desirable:
- Predatory trade. When countries do things like dumping product (i.e. Chinese steel) to create or enhance their domestic industries.
- To protect strategic domestic industries (i.e. chip manufacturing).
I don’t believe anyone disputes your first point. The second however could be and is debatable when certain allies and trade treaty parties are either involved or could be adversely affected.
Given Trump’s dubious track record on trade issues, I cannot accept that his understanding of trade and tariffs extends beyond that of a retail store clerk or fast food and beverage server.
@Renauda said in Trump proposes trillions in new taxes:
Given Trump’s dubious track record on trade issues, I cannot accept that his understanding of trade and tariffs extends beyond that of a retail store clerk or fast food and beverage server.
President Trump is very reactive rather than proactive and does not have a very long term vision or understaniding of the consequences of most his decisions.
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Ok, boy and girls, which American president has a trade policy you like?
“Cry havoc and let slip the DOGE of war!”
Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton
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BTW, do we exclude furriners from that last question?
“Cry havoc and let slip the DOGE of war!”
Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton
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@Jolly said in Trump proposes trillions in new taxes:
Ok, boy and girls, which American president has a trade policy you like?
Reagan and G H W Bush appeared to understand good trade policies, despite their respective Congresses having some difficulties.
How’s that, Skeezix?
Elbows up!
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@Jolly said in Trump proposes trillions in new taxes:
BTW, do we exclude furriners from that last question?
How about you just exclude people who pay less US income tax than Trump?
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@Jolly said in Trump proposes trillions in new taxes:
BTW, do we exclude furriners from that last question?
How about you just exclude people who pay less US income tax than Trump?
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@Jolly said in Trump proposes trillions in new taxes:
Ok, boy and girls, which American president has a trade policy you like?
Reagan and G H W Bush appeared to understand good trade policies, despite their respective Congresses having some difficulties.
How’s that, Skeezix?
@Renauda said in Trump proposes trillions in new taxes:
@Jolly said in Trump proposes trillions in new taxes:
Ok, boy and girls, which American president has a trade policy you like?
Reagan and G H W Bush appeared to understand good trade policies, despite their respective Congresses having some difficulties.
How’s that, Skeezix?
At least you answered, which was better than the rest.
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When the GOP frontrunner proposed implementing a 10 percent tariff on foreign imports into the country, arguing that the policy "would really make a lot of money," the WSJ editorial board pushed back, suggesting that "Americans should be prepared to pay more for all kinds of goods" under the proposal."
"This is worth taking literally and seriously because Mr. Trump meant what he said about tariffs when he ran for President in 2016," the editorial board said, citing a Tax Foundation analysis that found tariffs cost Americans $80 billion and 166,000 full-time-equivalent jobs during his presidency.
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@Jolly said in Trump proposes trillions in new taxes:
Consider the source.
The Tax Foundation or the Wall Street Journal Editorial Board?
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Quick reminder, employment numbers were incredibly high prior to COVID and wages were excellent at a much lower CPI. Simple fact is more people had more money in their pockets and that money bought more stuff 4 years ago during those tariffs…
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Tariffs financed this country for over 100 years. I don't think we had any problems with prosperity or economic growth.
“Cry havoc and let slip the DOGE of war!”
Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton
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@Jolly The link was from Salon, but the quote I printed was from the Wall Street Journal editorial.
From the Tax Foundation
@taiwan_girl said in Trump proposes trillions in new taxes:
@Jolly The link was from Salon, but the quote I printed was from the Wall Street Journal editorial.
From the Tax Foundation
And again, we had one of the strongest economies in our nation’s history heading into COVID.
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Erica York
China Daily likes her.
https://www.chinadaily.com.cn/a/202112/03/WS61a95764a310cdd39bc7909d.html
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Tariffs financed this country for over 100 years. I don't think we had any problems with prosperity or economic growth.
@Jolly said in Trump proposes trillions in new taxes:
Tariffs financed this country for over 100 years. I don't think we had any problems with prosperity or economic growth.
Ah yes the good old days. I am sure there were no economic recessions or periodic hard times until after corporate and personal income taxes were introduced. So long as no other countries imposed duties or countervailing tariffs on US goods everything just went swimmingly for everyone in urban and rural America.
