Trump Tariffs has Countries ready to retaliate?

[Doublestandards]

he does that

So no one can trust his word

you think a 400 percent tariff on the milk we sell is a good deal?

Why would Trump make such a poor deal?

7 trillion dollars so far in new investments from businesses moving here to avoid the tariffs. more in the pipeline.

Source?

fits? or was the point made that mcdonalds would use automation to eliminate those jobs? did they do so?

But it’s going to be different this time with all these other companies?

generally you would make this argument if businesses had not committed the 7 trillion dollars of new investment.

Would like to see a source for this

 

[newfie]

So no one can trust his word

he didnt give his word

Why would Trump make such a poor deal?

why would he continue to live by such a deal?

Source?

google is your best friend . hopefully you're not waiting on me for your news

But it’s going to be different this time with all these other companies?

are you saying those companies made those committments before and reneged?

Would like to see a source for this

google it , your lack of education is not my issue

 

[Thebrownblob]

I'm a little rusty on the fan concept i thought posting negatives about someone meant the opposite.

It’s interesting how much these people have changed.

 

[Thebrownblob]

CAN TARIFFS REPLACE THE INCOME TAX?​

Simply put, no. Tariffs are levied on imported goods, which totaled $3.1 trillion in 2023. The income tax is levied on incomes, which exceed $20 trillion; the US government raises about $2 trillion in individual and corporate income taxes at present. It is literally impossible for tariffs to fully replace income taxes. Tariff rates would have to be implausibly high on such a small base of imports to replace the income tax, and as tax rates rose, the base itself would shrink as imports fall, making Trump’s $2 trillion goal unattainable.

A recent Peterson Institute policy brief calculated that revenues from Trump’s 10 percent/60 percent tariff proposals would total about $225 billion per year in current dollars. This figure is certainly an overestimate because it does not account for lower economic growth due to the inevitable economic shocks caused by retaliation against US exporters and the losses suffered by the import-dependent manufacturing sector. Exporters would also be hit by an appreciating dollar, as discussed below.

https://www.piie.com/blogs/realtime-economics/2024/can-trump-replace-income-taxes-tariffs

Tariffs absolutely could replace the federal income tax. The issue I have currently is that it seems Trump has put the cart before the horse because now we have both. payroll tax should be abolished. we should be talking about a consumption tax or a flat tax at the very least.

 

[newfie]

Tariffs absolutely could replace the federal income tax. The issue I have currently is that it seems Trump has put the cart before the horse because now we have both.

i dont think he could get that through congress unless he shows he can collect enough revenue from tariffs first.

 

[Thebrownblob]

i dont think he could get that through congress unless he shows he can collect enough revenue from tariffs first.

That may be, but he also said they’re gonna be working on extending tax cuts which means to me they’re still going to be a federal payroll tax I guess we’ll see

 

[Doublestandards]

he didnt give his word

So why would companies move over here and risk spending billions to uproot their operations when he didnt give his word as you say and likes to troll as you say?

why would he continue to live by such a deal?

Why would he make a deal in the first place? We were told it was an amazing deal back then by him

google is your best friend . hopefully you're not waiting on me for your news

I googled and couldn’t find anything. You made the claim, back it up

 

[Doublestandards]

Tariffs absolutely could replace the federal income tax. The issue I have currently is that it seems Trump has put the cart before the horse because now we have both. payroll tax should be abolished. we should be talking about a consumption tax or a flat tax at the very least.

How can tarrifs replace income tax with the numbers I posted above?

 

[newfie]

That may be, but he also said they’re gonna be working on extending tax cuts which means to me they’re still going to be a federal payroll tax I guess we’ll see

yea to me its a radical new concept that I've not heard much about before. i've always been a fan of a flat tax. the government can't manage anything right so why make the tax code complicated and have to hire a ton of people to collect it. reciprocal tariffs are probably a better way to go for the same reason.

with that said i'm not convinced that we can collect enough on tariffs to make it work

 

[Thebrownblob]

How can tarrifs replace income tax with the numbers I posted above?

Well, first those numbers are way off because they’re based on old data. And I said we would offset it with a flat tax or consumption tax. Which is much more fair.
Please don’t remind me how much of a pain in the neck it is and unnecessary to file all this paperwork every year.

 

[nWo]

 

[Doublestandards]

Well, first those numbers are way off because they’re based on old data.

Wheres the new numbers? Im not sure how that would change, are you saying with the new data we’ve been bringing in significantly less money through taxes?

And I said we would offset it with a flat tax or consumption tax. Which is much more fair.

So we’re going to have higher prices from tarrifs plus higher sales tax?

I don’t understand how that would bring in enough money and not hurt the poor and working class the hardest

 

[newfie]

So why would companies move over here and risk spending billions to uproot their operations when he didnt give his word as you say and likes to troll as you say?

clearly they dont have the same concerns you're trying to fabricate .

Why would he make a deal in the first place? We were told it was an amazing deal back then by him

I googled and couldn’t find anything. You made the claim, back it up

I've watched one press conference after another as these CEO's have personally gone to the white house and announced their investments in this country . you might want to spend a little less time here and more time watching trump press conferences?

 

[Pullman Brown]

 

[Pullman Brown]

Globalization did to the national economy what the industrial revolution did to the household.

Christian virtue, civic liberty, and stable economic prosperity rest on the integrity of intermediate polities such as nation, region, county, and household.

It is good for the magistrate to protect those intermediate polities: what is it to a nation if the stock market goes up, if it does so by cannibalizing its own organs and bones?

Doctrinaire free traders are, perhaps unwittingly, extremely radical levelers. In the name of efficiency they hollow out the honeycomb structure of society that gives it both strength and lightness. In its place you get a gigantic aluminum dome spanning a devasted middle. (But, "the laws of economics!", they cry.)

KW

 

[Doublestandards]

clearly they dont have the same concerns you're trying to fabricate .

I think they do because you haven’t been able to show me any evidence of this $7 trillion in investments

I've watched one press conference after another as these CEO's have personally gone to the white house and announced their investments in this country . you might want to spend a little less time here and more time watching trump press conferences?

So you can’t provide a source , a Trump press conference is not a reliable source

 

[Over70irregs]

where did that translator go?

 

[Crosscutters]

Everyone’s 401k portfolio took a massive hit again today. Over 3000 points down.

 

[bottomups]

Everyone’s 401k portfolio took a massive hit again today. Over 3000 points down.

Don't have to touch mine for 7-8 years.

 

[newfie]

Everyone’s 401k portfolio took a massive hit again today. Over 3000 points down.

thanks for the update i was wondering what the stock market did today