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Started By
Message
re: House Republicans Are Preparing To Hit Consumers With A Horrible New Tax
Posted on 2/20/17 at 8:09 am to Homesick Tiger
Posted on 2/20/17 at 8:09 am to Homesick Tiger
quote:quote:
You don't think that the tax will be passed on to the consumer?
So you're basically saying it's a trickle down effect tax.
When GMC purchases their fuel injection system from a plant in Mexico at a current price of $1,000 the proposed 20% tariff ("border adjustment tax") will make that fuel injection system now cost $1,200. GMC will have to pass that extra $200 on the the consumer in order to say in business.
2
Posted on 2/20/17 at 8:11 am to GumboPot
quote:
GMC will have to pass that extra $200 on the the consumer in order to say in business.
Well, yeah. But it's not a tax on consumers as the OP tried to imply with his title, at least in my mind.
Posted on 2/20/17 at 8:12 am to SECdragonmaster
quote:
That article is terrible.
It is littered with superlatives and exaggerated adjectives.
Like a 9th grade debate/paper.
I had no idea what they were really talking about.
It's The Capitalst's Fool...Steve Forbes, the only reason Forbes ever ran for President was to serve his own, and Wall Street's, self serving economic interests.
Posted on 2/20/17 at 8:12 am to dmjones
fricking morons that voted for Trump actually believed that Mexico would some how pay for the wall. Bunch of fricking morons. They deserve to pay the taxes for it. I just wish there was a way that I didn't have to.....
Posted on 2/20/17 at 8:13 am to Aubie Spr96
quote:
I just wish there was a way that I didn't have to.....
Move outside our borders. That would be a good step, yes?
Posted on 2/20/17 at 8:25 am to Homesick Tiger
quote:
But it's not a tax on consumers as the OP tried to imply with his title, at least in my mind.
Literally you are correct. It's a tax on the import companies not a literal tax on consumers. However the issue is, the 20% tariff raises the cost of goods to the importer by 20%. In order to maintain their profit margins the importer will have to raise their prices by 20%.
Thus the prices of imported goods will be 20% higher for the consumer.
Posted on 2/20/17 at 8:30 am to GumboPot
quote:
Thus the prices of imported goods will be 20% higher for the consumer.
Not necessarily. You'd have to do the math on each part in the equation that is affected by the triggering tax.
Posted on 2/20/17 at 8:35 am to dmjones
I find it to be the biggest irony of Trump's young presidency, this border adjustment tax, i.e, 20% blanket tariff proposed by the GOPe Republicans.
During the campaign and currently Trump proposed/proposes SPECIFIC and TARGETED tariffs for trading partners and companies IF (key word, "if") they behave contrary to American workers.
Through out the campaign that policy position by Trump on trade was mischaracterized as blanket tariffs by the GOPe in their criticism of Trump's trade policies. Especially by Mark Levin and even Paul Ryan.
Now Paul Ryan is floating a blanket tariff and Trump says, "I don't love it".
During the campaign and currently Trump proposed/proposes SPECIFIC and TARGETED tariffs for trading partners and companies IF (key word, "if") they behave contrary to American workers.
Through out the campaign that policy position by Trump on trade was mischaracterized as blanket tariffs by the GOPe in their criticism of Trump's trade policies. Especially by Mark Levin and even Paul Ryan.
Now Paul Ryan is floating a blanket tariff and Trump says, "I don't love it".
Posted on 2/20/17 at 8:37 am to dmjones
I have heard this will raise the cost of product to put a tariff. In the short-term it may, but there will be some american who wants to get a competitive advantage will figure out how to manufacture the product to avoid the tariff. It is amazing how so many people that claim to be free marketers do not understand that concept. It is never static.All these projections of doom and gloom are point-in-time extrapolations. It assume no other conditions change and that is not how it works.
Posted on 2/20/17 at 8:40 am to skrayper
quote:Fine with me. As long as it's an opinion piece and not a news item.
Can I save this for every time someone posts a Brietbart article
Posted on 2/20/17 at 8:44 am to dmjones
Probably won't have that much of an effect either way. Currencies will most likely adjust for this.
That said, there's a fair shot it's not even legal in our current trade agreement framework, and Trump isn't extricating us out of that unilaterally.
That said, there's a fair shot it's not even legal in our current trade agreement framework, and Trump isn't extricating us out of that unilaterally.
Posted on 2/20/17 at 8:45 am to Homesick Tiger
quote:
So you're basically saying it's a trickle down effect tax. I did not read that into your title of the thread. Your title is a little ambiguous.
My title is the title of the article. I, literally, copied and pasted it with the exception of the OMG part.
Posted on 2/20/17 at 8:55 am to HubbaBubba
quote:
Fine with me. As long as it's an opinion piece and not a news item.
Does he do anything but opinion pieces?
Posted on 2/20/17 at 9:04 am to Homesick Tiger
If the tax gets passed along in pricing, then consumers pay it. Whether it is a consumer tax or it is passed on, the end result is still the same.
Posted on 2/20/17 at 9:08 am to lynxcat
quote:
If the tax gets passed along in pricing, then consumers pay it. Whether it is a consumer tax or it is passed on, the end result is still the same.
Or companies could just move their manufacturing to good ole USA and save an instant 20%.
Posted on 2/20/17 at 9:09 am to lynxcat
quote:
If the tax gets passed along in pricing, then consumers pay it. Whether it is a consumer tax or it is passed on, the end result is still the same.
Just like the raising of minimum wage huh? But something tells me you don't have a problem with that? Anyone with a brain the size of a pea knows the consumers eventually foots the bill for any increases by a company.
Posted on 2/20/17 at 9:20 am to redfishfan
quote:
Or companies could just move their manufacturing to good ole USA and save an instant 20%.
Why would you want a foreign country frick over their own employees by moving their operations to the US? Isn't that what you people, and Trump have been bitching out with US companies moving offshore? That's a hypocritical view of things.
Posted on 2/20/17 at 9:22 am to Homesick Tiger
What are you talking about? I am 100% against a minimum wage. It does nothing but force people out of the work force that would otherwise be willing to work. Nonetheless, I do not see how that is relevant to this discussion.
Posted on 2/20/17 at 9:23 am to redfishfan
Explain your math.
Posted on 2/20/17 at 9:25 am to GumboPot
This tax would be a VAT tax.
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