Ben Chu: He has promised tariffs - a form of tax - of up to 20% on goods from other countries and 60% on all imports from China. He has even talked about a 200% tax on some imported cars.
So a car imported to the US with a value of $50,000 (38,000) subject to a 10% tariff, would face a $5,000 charge.
The charge is physically paid by the domestic company that imports the goods, not the foreign company that exports them.
So, in that sense, it is a straightforward tax paid by domestic US firms to the US government.
And NO tariffs are not taxes.
#6 | Posted by commondolt
A tariff or duty (the words are used interchangeably) is a TAX levied by governments on the value including freight and insurance of imported products.Who to believe, The International Trade Commission or commondolt?
www.trade.gov(the,and%20insurance%20of%20imported%20products.
How about The Tax Foundation:
Tariffs are taxes imposed by one country on goods or services imported from another country. Tariffs are trade barriers that raise prices and reduce available quantities of goods and services for US businesses and consumers.Maybe the Brookings Institute can help us here:
What are tariffs?Gosh, I'm stumped, aren't you? /s
Tariffs are taxes that countries impose on imported goods when they cross the border.
#12 | Posted by commnotes at 2024-10-16 02:02 PM | Reply | Flag: MAGAt Understanding of Economics & Taxes
#18 | Posted by commnotes at 2024-10-16 02:13 PM | Reply | Flag: MAGAts post and re-post 100% BS because they believe that everyone is as gullible and stupid as they are
You mean they were addressing a huge problem with a solution that would also create jobs and opportunities?
How did they address it?
It was a grift.
www.nytimes.com
CO2 in the US has been dropping before Act, and it's not dropping faster.
www.epa.gov
The money will largely go to politically connected green energy ventures, which will kickback a political donation.
Like Elon Musk with Tesla and his space program?
Tesla received no direct money from IRA, people who purchased a Tesla received a Tax Credit. This didn't change the price of a Tesla, in fact the prices dropped.
Biden cancelled $885 million in government funding to support broadband access in rural communities.
Who's receiving 'political donations' from those commondolt?
What else do you have? On the flip side you're just admitting that all green subsidies are political kickbacks.
They donate to both.
I meant to singularly reference Musk, not his companies.
Musk gave $75 million to pro-Trump group, becoming a Republican mega donor
Elon Musk gave around $75 million to his pro-Donald Trump spending group in the span of three months, federal disclosures showed on Tuesday, underscoring how the billionaire has become crucial to the Republican candidate's efforts to win the Nov. 5 presidential election.
Musk, the CEO of electric car manufacturer Tesla, was the sole donor to the group in that period.
Musk, who has said he has voted for Democratic presidential candidates in the past, has taken a sharp turn to the right this election. He endorsed Trump in July and appeared with him at a rally in Pennsylvania earlier this month.
Trump repeatedly benefits from the ignorance, stupidity and tendency to short term memory of the American people. Trump's tariffs hurt American farmers so badly he was forced to give them billions of dollars to compensate them and to buy their votes in 2020:
Claire McCaskillwww.forbes.com
@clairecmc
Hoping farmers that were screaming at me about Trump's tariffs last time remember what happened. And the "fiscal conservatives" remember his very expensive taxpayer bailout for their tariff losses.
Tariff Aid To Farmers Cost More Than Nuclear Forces
The Trump administration gave more taxpayer dollars to farmers harmed by the administration's trade policies than the federal government spends each year building ships for the Navy or maintaining America's nuclear arsenal, according to a new report. A National Foundation for American Policy analysis concluded the spending on farmers was also higher than the annual budgets of several government agencies. "The amount of money raises questions about the strategy of imposing tariffs and permitting the use of taxpayer money to shield policymakers from the consequences of their actions," according to the analysis.
After a series of tariff increases on Chinese imports, the government of China retaliated against U.S. exporters, as predicted by trade analysts outside of the administration. As a result, U.S. exports, particularly of agricultural goods, dropped significantly. "Losing the world's most populous country as an export market has been a major blow to the [U.S.] agriculture industry," reported the New York Times in August 2019. "Total American agricultural exports to China were $24 billion in 2014 and fell to $9.1 billion last year, according to the American Farm Bureau." In 2018, U.S. farmers' soybean exports to China declined by 75%, according to the U.S. International Trade Commission.
To shore up political support from farmers, Donald Trump approved increasing amounts of government aid to farmers harmed by the trade policies that the Trump administration itself initiated. Trump was open about the purpose of the payments. "I sometimes see where these horrible dishonest reporters will say that oh jeez, the farmers are upset,'" he told attendees of an Illinois farmer show in August 2019. "Well, they can't be too upset, because I gave them $12 billion and I gave them $16 billion this year. . . . I hope you like me even better than you did in '16."
"American manufacturing cannot compete in any way shape nor form against China's low labor costs." -
#40 | Posted by sitzkrieg
So?
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