Saturday, May 11, 2019

Trump’s Tariffs Are a New Tax on Americans

Mod: Like most things with Trump, he's lying about it.

Trump’s Tariffs Are a New Tax on Americans - President Trump is undermining the credibility of his trade policies by falsely claiming that China is paying the bill (The New York Times link): President Trump’s new tariffs on Chinese imports, which took effect at 12:01 a.m. on Friday, are taxes that will be paid by Americans. That is a simple fact, and it remains true no matter how many times Mr. Trump insists the money will come from China.

Mr. Trump’s latest escalation of his trade fight with China is a 25 percent tariff, or import tax, on products that compose about one third of China’s exports to the United States, including Chinese bicycles, circuit boards and wooden doors. The tariff rate on those goods was previously 10 percent. Mr. Trump also has threatened to impose the 25 percent rate on virtually all products imported from China — more than $500 billion in goods last year.

Mr. Trump could make an honest case for this tax increase. He could argue that Americans must endure higher prices because China will suffer too — while China does not bear the direct cost of the tariffs, it is likely to suffer a loss of sales — and the United States needs that leverage as it presses China to change its economic policies.

Instead, Mr. Trump continues to repeat the false claim that the money will come from China, even though he has been told repeatedly that this claim has no basis in fact. He is willfully peddling a falsehood for political gain.

The mechanics of tariffs are not complicated: The government sends a tax bill to the company that brings goods into the country. Most of those tax bills go to American companies, often import firms that specialize in dealing with the customs process.

It doesn’t really matter who gets the bill, however. The important question is where the money to pay it comes from. And in broad terms, there are only two options: It comes either from the firms that make, move and sell the products or from the pockets of the buyers.

Mod: Most of it will be paid by you. The rest of the article is available at the link.

sierramadretattler.blogspot.com

32 comments:

  1. Is it any wonder why with an article written by someone with no common sense, attracts others "wit" the same.

    ReplyDelete
    Replies
    1. OK, Mr. Tax Fighting Tea Nut. Explain to everyone here why Trump's tariffs are not a de facto tax hike.

      Delete
    2. Just so happens clothes and shoes stuff he and his daughter sell are exempt from the tariffs.

      Delete
  2. How much of the money raised by Trump's new tax will go to pay for his vanity wall?

    ReplyDelete
    Replies
    1. Trump is setting up side taxes to avoid Congressional oversight of his special projects.

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    2. Just quit buying everything except essentials, f+++ tRump's 25% tax !!!

      Delete
  3. Time for all No Trumpers to wage protest and go jump in a lake!
    Or ocean, and be sure to carry terriffs of Chinese tea under your arms.

    ReplyDelete
  4. Just like the collusion with the Russians and the obstruction of the investigation afterwards the cover-up is now in the open, also. They don't hide it. They are putting a blanket over everything. No more information is forthcoming from this White House. They are willing to argue that the people will accept their cover-up over the Congress' right to oversight and exposure of the facts. They are unashamedly lawless.

    Make no mistake, it is a cover-up. And the White House is being assisted by the Republicans in the US Senate. They do not want the people to know the truth. They are very fearful of the facts that might be uncovered.

    But, as with most criminal endeavors, it is the cover-up of the crime that usually leads to the scene of the crime. So it will be with this White House.

    ReplyDelete
  5. What America and the World is witnessing is the real reason why America revolted against 'King George' in the first place. By divesting ourselves away from 'King George' America was choosing a path that would never allow such ignorance and stupity to EVER ascend to the level of which 'kinky (djt( has ascend too. Down with the kinky (djt) king of america.

    ReplyDelete
  6. If we really wanted to solve our national debt problem we could institute the Lie Tax. Trump alone would owe billions.

    ReplyDelete
  7. We try not to buy "made in China" products, support Made in USA.

    ReplyDelete
    Replies
    1. You’ll have to give up your computer then, pal. Please, I dare you.

      So much for freedom of trade and capitalism.

      Delete
    2. No trump apparel for you.

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    3. Does that mean the price of MAGA hats will be going up?

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    4. Dear 9:03. Every damn electronic device was made in China.

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  8. How else is he going to fund those tax cuts for his rich friends?

    ReplyDelete
  9. George Conway slams Trump for calling Biden 'creepy': You 'palled around with Jeffrey Epstein'

    https://thehill.com/blogs/blog-briefing-room/news/443098-george-conway-slams-trump-for-calling-biden-creepy-you-palled

    ReplyDelete
  10. Tomato Prices Could Increase By 85 Percent As a Result of Trump Administration's New Policy

    The end of the Tomato Suspension Agreement between the United States and Mexico could cost you at the grocery store.

    There could be bad news ahead for tomato lovers.

    On Tuesday, it was announced that the United States would begin imposing a 17.5 percent tariff on imported Mexican tomatoes, which could leave to increased prices — and shortages.

    This new tariff marks the end of the Tomato Suspension Agreement, which existed between Mexico and the United States for 22 years, before the Trump administration put an end to it, according to the Washington Post.

    In addition to signifying a continued straining of U.S.-Mexico relations throughout Donald Trump‘s presidency, the new tariff could result in higher price tags at the grocery store.

    https://people.com/food/tomato-prices-increase-trump-tariff-mexico/

    ReplyDelete
    Replies
    1. No store bought tomato is worth buying

      Delete
  11. Trump acknowledges massive tax write offs, calls it 'sport'

    President Donald Trump on Wednesday acknowledged taking massive tax write offs for real estate losses topping $1 billion from the mid-1980s to mid-1990s, calling it “sport” among developers like himself during that period.

    Trump was reacting to a New York Times report Tuesday that his businesses lost more than $1 billion from 1985 to 1994. The newspaper said its reporting was based on printouts it acquired of Trump’s official IRS tax transcripts, including figures from his federal tax form.

    Trump reported business losses of $46.1 million in 1985, and a total of $1.17 billion in losses for the 10-year period.

    The president appeared to defend his actions in a pair of tweets early Wednesday.

    https://apnews.com/ee2829c9cf72438c917dd90aded27135

    ReplyDelete
  12. How long will it be before FoxNews convinces genius MAGAt Walmart shoppers that the higher prices they're paying are the fault of Obama and Hillary?

    ReplyDelete
  13. All you wannabe conservatives happy about these Chinese tariffs ? You better not be critical after all your orange clown will get mad.

    ReplyDelete
  14. The new political wind is a blowing, against the knot-head squatter in the White House
    https://www.yahoo.com/sports/boston-red-sox-fans-rip-down-donald-trump-2020-campaign-flag-fenway-park-014655762.html

    ReplyDelete
  15. When will those tatter-tot heads that support these 2 fools wake up? What a pathetic mess these 2 communist fools have placed themselves in, (djt) and stooge of the article.
    https://www.wsj.com/articles/leaked-letters-reveal-details-of-nra-chiefs-alleged-spending-11557597601

    ReplyDelete
  16. If you ever want to see and hear what a PUNK looks like then observe this link and you will see for yourself. https://nypost.com/2019/05/11/trump-hits-retweet-button-60-times-in-massive-twitter-spree/

    ReplyDelete
  17. It's going to be ending of mine day, however before ending
    I am reading this fantastic paragraph to improve my experience.

    ReplyDelete
    Replies
    1. We also offer hot stone massages

      Delete
  18. When the tough get going they spend money like it was like water in the middle of the ocean. https://www.cnsnews.com/news/article/terence-p-jeffrey/2573708000000-federal-spending-sets-all-time-record-through-april

    ReplyDelete
    Replies
    1. Crooked republicans going to cause another recession.

      Then democrats will get voted in to clean up the mess

      The republicans will blame Dems and dumb white trash will vote republican again against their own interest

      Delete
  19. Are all you rabid supporters crooked like these people are? https://www.sfgate.com/news/article/A-group-raised-over-20-million-to-build-the-13837895.php

    ReplyDelete

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