U.S. consumers, not outsiders, would pay the oil tariff. Agreed.
(eg: cost of coffee skyrockets by 70%, margins fell from 70% to 50% even with a 10% price increase which resulted in a 25% demand decrease – ie most of the cost increase was born by us, same was true on the reverse).
Yes, a 70% tariff on coffee would be paid by US consumers and US businesses, not by outsiders.
We tax profits on US corporations at 35%. Assuming average profit margin of around 30%, the equiv is probably closer to 10x
Corporate profits last year were about $1.7 trillion. I think your 30% average margin is way too high.
On oil yes; on other products the profits of exporters into the US would have to drop for them to stay competitive so outsiders would share in any pain (or lose the profit entirely, which helps US labor and businesses)
Yes, a 70% tariff on coffee would be paid by US consumers and US businesses, not by outsiders.
See above - that isn't true. If you charge a tariff on coffee, the demand for it drops and exporters would have to lower prices in order to drum up demand. It's not exactly 1:1:1 but the loser would include the overseas producer as well. Put another way, the profit maximizing price charged by that exporter changes with a tariff, and it's not 100% of the change in cost and not always in the same direction.
Corporate profits last year were about $1.7 trillion. I think your 30% average margin is way too high.
I was mentally thinking EBITDA rather than NI but yes that is too high, although corporate profits before taxes is closer to 2.2T - that also excludes a lot of corporate profits "hiding" overseas (like Apple) so the real profit is probably closer to $3t before taxes. But regardless, it makes no sense to have US corporations paying nearly $400 billion in taxes and importers paying only $30 billion. All things being equal, I'd much rather do like we did for our first 150 years of our existence and live of import tariffs than tax our own citizens first (many local places still do this with hotel taxes). Of course, I'd rather we just massively reduce the size of our government but that isn't going to happen anytime soon.