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Study: Trump tariff proposal would reduce gdp, Cost 505,000 jobs
Posted on 8/29/23 at 2:14 am
Posted on 8/29/23 at 2:14 am
quote:
Using Tax Foundation’s general equilibrium model, we estimate a new 10 percent tariff on all imports would reduce the size of the U.S. economy by 0.7 percent and eliminate 505,000 full-time equivalent jobs.
Unfortunately, that would be the tip of the iceberg. Imposing an across-the-board tariff would threaten the entire system of global trade we currently enjoy.
U.S. exports totaled $2.1 trillion in 2022. If the rest of the world responded to the new tariff in kind, it would amount to $200 billion of new taxes for foreign governments. We estimate that would further reduce U.S. GDP by 0.4 percent and eliminate another 322,000 full-time equivalent jobs.
Taken together, we find Trump’s proposal of a 10 percent trade tax matched with in-kind retaliation would shrink the U.S. economy by 1.1 percent and threaten more than 825,000 U.S. jobs.
LINK
300 billion dollar tax increase on US citizens
How is this conservatism?
48
Posted on 8/29/23 at 2:17 am to HailHailtoMichigan!
Idk why don’t we just send more billions to Ukraine to make up for it…..moron
Posted on 8/29/23 at 2:24 am to HailHailtoMichigan!
Are you worried that President Trump will put a tariff sucking cock? Take your meds commie.
Posted on 8/29/23 at 2:40 am to TexasTiger13
Only on the poli board are you a communist if you support free markets
Posted on 8/29/23 at 2:58 am to HailHailtoMichigan!
You just don't know when to say enough is enough. Un-freaking-believable. SMDH
Posted on 8/29/23 at 3:39 am to Topisawtiger
Does anyone in this thread actually disagree with the content of the OP or do they agree with it and just not like the poster?
Posted on 8/29/23 at 3:48 am to HailHailtoMichigan!
The problem with this study is it assumes the goods imported will be consumed by other counties if the USA doesn't import them. The USA is the biggest consumer in the world per capita, just examine the trash per citizen output.
This also assumes other policies aren't in play- like tax cuts for citizens and low energy prices which would blow this model up.
Tldr- more garbage to bash Trump, nothing more
This also assumes other policies aren't in play- like tax cuts for citizens and low energy prices which would blow this model up.
Tldr- more garbage to bash Trump, nothing more
Posted on 8/29/23 at 4:18 am to pankReb
quote:
Does anyone in this thread actually disagree with the content of the OP or do they agree with it and just not like the poster?
They genuinely don’t know what to do.
They’re confronted with a subject about which they know nothing, followed by a question asking if a particular position on that subject is a Conservative one.
BUT, they don’t know what Conservatism is, either, even though they claim to be Conservatives.
it’s the damnedest thing. To further confuse things, a picture and quote of Thomas Sowell was introduced which broadly addressed the subject. They don’t really know who Thomas Sowell is, but they do at least know Thomas Sowell is a Conservative hero and since they pretend to be Conservative, they consider taking his side.
However, his quote contradicts Trump’s economic policy and Trump is really the only value they hold.
In their minds, Trump like tariff; tariff good. But, they can’t shite on Thomas Sowell, just yet (even though they want to because his quote contradicts their lord). They will, however, shite on him, later, should he ever directly contradict their lord.
So, rather than post anything substantive, they just drive-by-downvote and attack the OP. It’s a lot easier.
Those are the same fricking idiots who can’t define Conservatism, but call the most Conservative POTUS candidate a globalist establishment candidate and are supporting a Populist, instead.
They are some STUPID fricks.
Posted on 8/29/23 at 5:16 am to HailHailtoMichigan!
Didn’t your President you voted for, Joe Biden, just slap a bunch of tariffs on steel?
Posted on 8/29/23 at 5:24 am to Chancellor
Exactly.
If Trump is for it then in their mind it is conservative.
Sophomoric insults are at the limit of their debate skills.
If Trump is for it then in their mind it is conservative.
Sophomoric insults are at the limit of their debate skills.
Posted on 8/29/23 at 5:35 am to Chancellor
The only reason our manufacturing was moved to the third world is because the labor and regulatory costs are a lot cheaper. I don't know about the rust belt, but our SE towns that relied on textile mills dried up because those low paid textile mill workers were still too costly. It also killed the ancillary businesses that supported the mills and the workers. I'm also aware that the only reason the SE got the mills is because it was cheaper than keeping the mills in New England.
Posted on 8/29/23 at 5:51 am to HailHailtoMichigan!
You don’t even know what you believe other than OMB. You voted for a democrat/Biden that wants to force you to drive a. Electric car and take away ceiling fans and gas stoves.
How is that a free market treating you.
How is that a free market treating you.
Posted on 8/29/23 at 5:51 am to Chancellor
This post is art.
Posted on 8/29/23 at 5:52 am to HailHailtoMichigan!
One thing that makes you as good as you are is that you’re at least consistent in trashing of Trump. OMB has lived in your soul for almost a decade and your mere existence is dependent upon stories about Trump. Of course these stories are generally 99.9% wrong or heavily biased, but hey you do you
Posted on 8/29/23 at 5:59 am to HailHailtoMichigan!
quote:
general equilibrium model
Posted on 8/29/23 at 6:04 am to Chancellor
you who else is some stupid fricks, the morons who admit that they voted for Biden. they probably believe that unicorns are real too.
Posted on 8/29/23 at 6:06 am to pankReb
quote:
Does anyone in this thread actually disagree with the content of the OP or do they agree with it and just not like the poster?
Once you realize someone's motif, nothing they say matters anymore
Posted on 8/29/23 at 6:08 am to HailHailtoMichigan!
So Biden lover, how’s Bidenomics working out for you? Biden introduced tariffs. LINK
This post was edited on 8/29/23 at 6:11 am
Posted on 8/29/23 at 6:11 am to HailHailtoMichigan!
quote:
How is this conservatism?
Your conservatism enriched the ruling class, and broke the country.
Posted on 8/29/23 at 6:12 am to HailHailtoMichigan!
quote:
How is this conservatism?
Why is a Biden-voting globalist trying to paint himself as a "conservative"?
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