Posted on 01/26/2017 1:12:48 PM PST by reaganaut1
PHILADELPHIA — President Trump plans to make Mexico pay for his border wall by imposing a 20 percent tax on all imports into the United States from Mexico, raising billions of dollars that would cover the cost of the new barrier.
The proposal, which Sean Spicer, the White House press secretary, said the president discussed privately with congressional Republicans before giving remarks at a party retreat here, would be a major new economic proposal that could have far-reaching implications for consumers, manufacturers and relations between the two governments.
Mr. Spicer said the 20 percent tax on annual Mexican imports would raise $10 billion a year and would easily pay for a border wall that is estimated to cost between $8 billion and $20 billion. The value of imported goods from Mexico in 2015 was $296 billion. Mr. Spicer said taxing imports is something that 160 other countries already do.
The new tax would be imposed on Mexico as part of a tax overhaul that Mr. Trump intends to pursue with the Republican Congress. Mr. Spicer said the tax initially would apply only to Mexico, but that the president supports imposing a 20 percent tax on all imports.
(Excerpt) Read more at nytimes.com ...
It will very quickly have industry return home if he also cuts regulations and taxes on hem like he said. It will destroy Mexico.
Well said.
I do believe one still has a choice to NOT buy Mexican products, including vehicles with mexican made parts.
We are not forced to buy rebuilt auto parts in mexico, sure they are cheaper, but at a tradeoff, lesser quality.
Time to admit we really just have to man up and buy Made in America, its more expensive yes.
For now, not for long though.
Amen!!
People are saying the 20% border tax will result in Americans buying American made goods instead of goods made in Mexico. Maybe, but that only works if the product can be made in America for a 20% higher cost. And I fear the problem is that there will be more than a 20% differential.
In other words, the cost to manufacture and sell the same item in America would be greater than 20% higher, which would mean American business people will still not make the item. OK, let’s say that is what happens. So then what is Trump going to do? Raise it to 30%? 40%? Where this eventually goes is to vastly higher prices for goods.
You’re smart and get it. The Globalist Free Traitors™ threw the American worker into a ditch and stood around peeing on them for 30 years telling them it’s raining. It is up the American worker to pull themselves out of the ditch. But don’t expect the bully gloBULLists to help in any way. Some inflation is going to happen as protectionism requires it at first, but it will not last long.
Bingo! Leveling the playing field will lead to improving the future of the American worker!
“:^)
Take a flat screen TV that costs $500.00. How many man-hours do you think went into that mass produced TV? If there is one man-hour I'd be shocked. So an American gets 30.00/hr to make TV's so now it costs $530.00. More but not that much more. Plus energy and shipping costs go down for domestic factories.
Will it be applied to oil?
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MTTIMUSMX2&f=M
:)
At some point a few Free Traitors™ will need to be publicly burned at the stake to get though to them.
We can contain or at least greatly mitigate that inflation risk (a little is good) with our current energy production potential. There is no better time to tackle these issues than right now.
The Mexicans pay for it in lost revenue. American manufacturers will fill the void and hire more people
Maybe, but I would think there would be more additional costs than just the $30/hr for the one man hour. Companies’ plants would have higher construction and maintenance costs, due to more stringent US building codes. Employee benefits would also likely be more costly. I kind of doubt that the additional cost per TV would only be $30.
We’ll just ignore them like they ignored us.
Life’s a bitch sometimes. “:^)
Nigel Farage suggested a $10.00 entry fee . Like a toll road.
This is nothing but a tax increase. I hope the GOP can find the spine to oppose this.
Do you know who’s going to pay this? The American people are.
The hope here is that this tax would cause the price of Mexican products be so high that the choice would be buy American. My hope is that the illegals would only buy Mexican thereby help building the wall.
Ummmm....20% of $300 billion is $60 billion a year.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.