CEOs
- Thread starter Smitty
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Have you heard Trump talk about tariffs he'll impose in his second term? Prices will skyrocket when the price of foreign components go up with Trump's stupid policies. He's an idiot, and the leaders of big business know it.
High tariffs and no income tax...Income tax should be paid equally amongst everyone, whether its straight line a percentage of what you make, investments should be exempt or consumption tax
well, well, well, look who agrees with the democrats.
i mean, trump has already shown he'll give temporary tax breaks to us schmucks while giving permanent tax breaks to his wealthy friends.
and which party was it that wants to abolish the IRS? and has already fought against a huge influx of cash so they can do a better job of going after wealthy tax cheats?
hedgehog, just saying everyone should pay their fair share is VERY progressive of you.
Everyone pays the same tax rate no matter your income has always been my thought. Or better yet, you keep all your money and a consumption tax with no deductions. no more filing taxes the more you spend the more you pay in taxes and the only way to raise taxes is it has to be voted on by the general public.
so you agree the IRS is vital? i mean, in a perfect world, everybody would just pay what they owe. but that ain't this world.
a consumption tax is very interesting. but i think i've seen a very strong argument against it. to an extent, it's very regressive. for example, everybody needs to eat. and is it really fair for someone below the poverty line to pay the same amount of tax for a loaf of bread as a rich person pays? so you'd have to lower the tax on necessities and REALLY jack it up on luxury items. and, let's face it, the wealthy people who run this country ain't gonna allow THAT to happen.
Your a glutton for punishment Gary. Ranting about rumors (lib talking points) that might happen and ignoring those your libtards have already proposed.
You need to woke up my friend. Per your post above. You have huge concern on tariffs you would like to relay to this forum.
Tell us about these already proposed by your mentors.
From the Whitehouse MAY 14, 2024 https://www.whitehouse.gov/briefing...usinesses-from-chinas-unfair-trade-practices/
fact sheet/per liptards tariffs...
Steel and Aluminum
The tariff rate on certain steel and aluminum products under Section 301 will increase from 0–7.5% to 25% in 2024.
Semiconductors
The tariff rate on semiconductors will increase from 25% to 50% by 2025
Electric Vehicles (EVs)
The tariff rate on electric vehicles under Section 301 will increase from 25% to 100% in 2024.
Batteries, Battery Components and Parts, and Critical Minerals
The tariff rate on lithium-ion EV batteries will increase from 7.5%% to 25% in 2024, while the tariff rate on lithium-ion non-EV batteries will increase from 7.5% to 25% in 2026. The tariff rate on battery parts will increase from 7.5% to 25% in 2024.
Solar Cells
The tariff rate on solar cells (whether or not assembled into modules) will increase from 25% to 50% in 2024.
Ship-to-Shore Cranes
The tariff rate on ship-to-shore cranes will increase from 0% to 25% in 2024.
Medical Products
The tariff rates on syringes and needles will increase from 0% to 50% in 2024. For certain personal protective equipment (PPE), including certain respirators and face masks, the tariff rates will increase from 0–7.5% to 25% in 2024. Tariffs on rubber medical and surgical gloves will increase from 7.5% to 25% in 2026.
gary has mentors high enough in the us government that they are proposing tariffs? i mean, that's pretty cool, gary. i did not know you were that connected.
at what point did gary say he is in favor of these tariffs? i can't speak for gary, but most people with even a passing knowledge of economics know that tariffs rarely, if ever, actually work.
here's what i don't think you understand. democrats often criticize the current administration. those of us in the middle often criticize the current administration. and we're free to do that because we're not in a cult. we can disagree with some or even many decisions from this white house, and still realize joe biden is by FAR the better choice to lead this country. whereas if any republican dares to question trump, actually DARES to call out his bullshit, he's suddenly labeled a RINO. donald trump has failed at nearly every business he's ever attempted. granted, most were more scam than business, but still. he drove a casino into bankruptcy. and yet, people have this image of him as a successful businessman. it's a farce. he has roughly the same understanding of macroeconomics as a ham sandwich.
and, let's be honest, a 10% blanket tariff on all chinese goods will have a much more direct impact on american wallets than almost everything you listed above. a 10% blanket tariff on consumer goods will hurt quickly. and while i don't necessarily agree with the above tariffs, i understand that they are specifically targeted at industries which we need to bring back to american soil.
If only facts were on your side.
Tariff Tracker: Tracking the Economic Impact of Tariffs
The Trump administration imposed nearly $80 billion worth of new taxes on Americans by levying tariffs on thousands of products in 2018 and 2019, amounting to one of the largest tax increases in decades. The Biden administration has kept most of the Trump administration tariffs in place
taxfoundation.org
Key Finding
- The Trump administration imposed nearly $80 billion worth of new taxes on Americans by levying tariffs on thousands of products valued at approximately $380 billion in 2018 and 2019, amounting to one of the largest tax increases in decades.
- The Biden administration has kept most of the Trump administration tariffs in place, and in May 2024, announced tariff hikes on an additional $18 billion of Chinese goods, including semiconductors and electric vehicles, for an additional tax increase of $3.6 billion.
- We estimate the Trump-Biden tariffs will reduce long-run GDP by 0.2 percent, the capital stock by 0.1 percent, and employment by 142,000 full-time equivalent jobs.
- Altogether, the trade war policies currently in place add up to $79 billion in tariffs based on trade levels at the time of tariff implementation and excluding behavioral and dynamic effects.
- Before accounting for behavioral effects, the $79 billion in higher tariffs amounts to an average annual tax increase on US households of $625. Based on actual revenue collections data, trade war tariffs have directly increased tax collections by $200 to $300 annually per US household, on average. Both estimates understate the cost to US households because they do not factor in the lost output, lower incomes, and loss in consumer choice the tariffs have caused.
- Candidate Trump has proposed significant tariff hikes as part of his presidential campaign; we estimate that if imposed, his proposed tariff increases would hike taxes by another $524 billion annually and shrink GDP by at least 0.8 percent, the capital stock by 0.7 percent, and employment by 684,000 full-time equivalent jobs. Our estimates do not capture the effects of retaliation, nor the additional harms that would stem from starting a global trade war.
- Academic and governmental studies find the Trump-Biden tariffs have raised prices and reduced output and employment, producing a net negative impact on the US economy.
- Jul 3, 2022
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Biden announces new tariffs on Chinese steel, Mexican aluminum
The Biden administration on Wednesday announced new tariffs on steel and aluminum imports with certain exceptions for Canada and Mexico to stop China from getting around existing tariffs by sending metals through Mexico.
You don't understand the difference? JFC. No wonder you're voting for that turd.
Biden announces new tariffs on Chinese steel, Mexican aluminum
The Biden administration on Wednesday announced new tariffs on steel and aluminum imports with certain exceptions for Canada and Mexico to stop China from getting around existing tariffs by sending metals through Mexico.us.yahoo.com
