Posted on 11/27/2024 9:43:22 AM PST by governsleastgovernsbest
Yesterday, it was CNN scaremongering Trump's tariffs, absurdly claiming they would raise Walmart prices by 250%.
Today, it was Morning Joe's turn to trash Trump's tariffs. The show ran a segment on the tariffs featuring Hallie Jackson of NBC News. Every point Jackson made about the tariffs was negative.
[snip]
Jackson offered her notion of an economics lesson:
"Remember, tariffs are a tax on things other countries send here. And those other countries don't pay the tax directly. It gets passed down to companies instead—and often to you.
That last warning was accompanied by a finger literally pointing at the viewer [see screencap.] Shades of the wartime recruitment poster of Uncle Sam pointing a finger and saying, "I Want You." Except in this case, it was Jackson suggesting "Donald Trump Wants You—To Pay Higher Prices!"
So, Hallie, taxes on companies often wind up getting passed down to individual taxpayers. Huh! Funny, we don't remember Morning Joe making that point regarding Kamala's huge proposed increase in the corporate income tax!
Get the rest of the story and view the video here.
(Excerpt) Read more at newsbusters.org ...
Protectionism means protecting foreign countries from tariffs in order to take more taxes from Americans.
The fact that this drew attention from the media tells you how just how stupid Morning Joe’s viewers are. Anyone dumb enough to think a 25% tariff could causes a 250% increase in prices says a lot about their understanding of economics.
And magically taxes do not get passed down.
They are specific to certain nations and products or industries where there are issues.
They are not even “protectionist” in nature (in the negative sense) since these target areas where you have unfair trade practices.
Some nations are trying to carve out an empire for themselves and have created a network of regulatory, tax rules and currency exchange rates which strongly favor exports and discourage imports, in an attempt to grow specific national industries.
As usual, they are stirring up the masses, and if you really start understanding what is being done, you can easily get behind Trumps ideas.
This is the same as all these stories that are being spread in the Latino community and are on the Spanish speaking TV channels where they are claiming the paddy wagon is soon coming to pick everyone up to deport them.
The item cost 1 dollar to the store buying it. Trump puts a 10% tax on it and the item is now $1.10 plus store mark up. It now costs $2.50 to the customer???????????????????
Joe obviously has a problem with math or no problem with lying. In reality it is no problem with lying.
What has always puzzled me is Joe when in the House of Representatives had a moderately conservative voting record and positions. What happened to Joe?
Corporations do not pay taxes!!!! The consumer pays the tax on the corporation as it is incorporated in the cost of goods. The corporation is just the tax collector for the government.
Joe should really read the book by Adam Smith, “The Wealth of Nations.”
The public should realize by now that those folks on TV who all-to-often act like they know what they’re talking about, don’t. This is especially true in economic matters. The same can be said of multitudes of folks in Washington. Joe and Mika and the rest just read the scripts they are given.
GMTA!
From the article:
“So, Hallie, taxes on companies often wind up getting passed down to individual taxpayers. Huh! Funny, we don’t remember Morning Joe making that point regarding Kamala’s huge proposed increase in the corporate income tax!”
Joe and Meeka make 10 mil a year each.
They are no different than Alec Baldwin and Sharon Stone.
Grifters chasing fame and fortune, turning everything they touch to shit.
If Halperin allows them to partner with 2Way, they will kill it.
Joe’s eyes are too close together and he shit$ to close to the house.
MSNBC should just go to game shows, they’d double their ratings overnight.
CNN scaremongering Trump’s tariffs, absurdly claiming they would raise Walmart prices by 250%.
Somebody at CNN got their MBA between lunch and dinner.
(1) In spite of the Trump tariffs, many foreign companies hold the line on prices for their goods in the US in order to maintain production, market share, and profits.
(2) Some countries devalue their currency to keep their exports to the US cheap. This tends to strengthen the dollar and reduce the interest rates that the US must pay to finance the public debt, thereby strengthening the US financial position.
(3) Domestic manufacturing employment in the US rises due to well-placed tariffs, which benefits the hard hit "Rust Belt" swing states whose voters gave victory to Trump in 2016 and 2024.
(4) Much of Wall Street's wealth and New York City's prosperity over the last two decades came from investing US capital abroad, especially in China. In addition, foreign tourism drawn by the relatively cheap dollar is a big factor in NYC's prosperity. As part of the NYC based national media, Morning Joe and other grossly over paid media figures eat quite well from that same table.
(5) In political and economic terms, what Morning Joe and the financially prosperous in NYC and around the country want is to be able to buy goods cheap from foreign countries at the expense of factory workers in the Rust Belt. Now, with Trump as their champion under the banner of MAGA, those workers have rebelled and voted in favor of higher tariffs and their own jobs and hope for the future.
“Corporations do not pay taxes!!!! The consumer pays the tax on the corporation as it is incorporated in the cost of goods. The corporation is just the tax collector for the government.”
A great more than half truth.
However, the other half is:
Taxes add to a businesses costs. In determining prices to the consumer the TOTAL of its costs (not just taxes) is considered, BUT ALSO the market prices for its goods is considered as well. Whether or not a corporation retrieves 100% of its costs, or more, depends on all of that.
When doing that, if taxes alone were the only factor in a businesses cost increase, will the company be able to increase its prices to recover 100% of the additional taxes? Maybe, maybe not. Increase taxes may be a factor that means lower profits, which means it could not pass 100% of the tax increase to the consumer, because its competitors have lower cost margins and can maintain lower prices.
The point is, whether or not the company is or is not “passing along” the total cost of the taxes it pays (collects if you will) they are a factor in prices the consumer pays.
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.