Posted on 09/10/2018 8:36:08 AM PDT by reaganaut1
The WSJ turned to the radical, foreign commie, anti-American left years ago. More recently, the publication has been cheerleading for sexually perverted crooks who are looting our economy through political contributions to the foreign, commie, anti-American left.
“Choice” is “elitist?”
You can’t have a more absent tax than “zero.” That is what people pay when they buy US.
Oh, and our Founding Fathers must have been the worst elites, as they used tariffs for the entire budget.
That might actually be better than playing Fortnite and other games for hours, as vast multitudes do.
The media is desperate to spin the Tariffs as BAD FOR AMERICA. What a joke.
Yup, Tariffs ARE bad, but we are only responding to the lousy treatment we’ve had dealt us by bad deals and our effort to rebuild the world after WW2.
FREE LUNCH.....OVER!!!
We have a right to create industry at home so that our families and future families have something to do for a living!!!!!!!!!!!!!!!!!!
“Wages do not appear to be rising.”
According to whom? According to the BLS, they’re growing at the fastest clip in a decade.
The LPR is also holding steady for the last 2 years after declining heavily for at least 10 years previous.
https://www.bbc.com/news/business-45448323
https://tradingeconomics.com/united-states/labor-force-participation-rate
“they need our buyers far more than we need their products... and that’s the leverage point every talking head refuses to acknowledge.”
Also unmentioned is that they need our investors- and tariffs make our investors look for other places to invest.
Without our investors China can’t grow and pay its debts.
I certainly hope that is true. I am not seeing it (yet) in selected industry wage surveys.
Perhaps the effects are highly variable across different industries.
Anyone have access to raw data sources and some decent analytical software?
What is indeed a real danger. Not just one example but multitudes of stories, plus cost of living increases if the threatened tariffs on all Chicom goods goes thru.
Not good timing at least, and while the motive is sound, the horse has been out of the barn so long that the barn needs repair if it is to get back.
They way you use the term, yes. Poor people don't have a "choice". They don't shop at Walmart and Dollar Tree for the ambiance. They shop there because they have too in order to make ends meet. They don't have savings or money left over when they're done shopping. When a 25% tariff gets passed on to them, they have to skip items they need. Are we going to subsidize them too, like soybean farmer?
Tell me about it. I’ve been blue collar custom metal manufacturing for 30+ years. I’ve seen the downhill slide in quality.
You people use that argument like you think there was a vast menu of taxation options open to them and they picked tariffs because they were so deeply in love with them.
They used tariffs because it was the only revenue option they had. There was no income tax, they couldn't debt finance on any meaningful scale and a sales tax was unworkable.
The founders, compared to us, lived in a economic stone age.
You can always go digging through FRED:
https://fred.stlouisfed.org/categories
There is certainly some massaging of data, so it’s not strictly “raw”.
Tariffs built this country. Imagine not getting taxed by the government on everything you bought or made in the US.
It kept government small. The income tax taxed reportable income, greatly increasing the government coffers and penalizing work.
Excise taxes are healthy for our country and all other countries.
You called our Founding Fathers “elitists” in the “economic stone age.”
You are a sick individual without any sense.
taxing soybeans is more than a retaliation. it hurts Trump’s base and conveys a message. You know, China has repeatedly claimed that American government and congress are to blame for America’s trade deficit due to the policy that prevents hi-tech products (high value-added) from being exported to China.
No, I called you an elitist. They were just doing the best they could with the limited financial tools they had available.
Tariffs ae not a tool for any sort of “elitism.” They are normal and healthy.
Our Founding Fathers saw them as the same voluntary, pro-US development, tax.
Yes, they are. They are the worst kind of top down control mechanism. The rich can afford to pay them or buy an alternative, but the poor can't. There is an entire class of people in this country that rely on low cost goods to live their lives. There is no "choice" for them to make. Take Apple as a benchmark of the inflationary effect. They estimate a 20% increase in retail price with full tariffs. Trump has acknowledged this in tweets. The people who scrape by day to day, can't take a 20% hit at the checkout stand. They have no extra. How are we going to deal with that? Should we let them starve? Should we ramp up the welfare net like we did with soybean farmers? Should we wait for the riots and just gun them down? Please tell me what the plan is to deal with a 20% or more inflation spike and rising rates that put a tourniquet on the credit markets.
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