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 ...
Amen to that. He knows when to hold ‘em and knows when to fold ‘em.......lol
I’m not an economist but I would think the tariff would level the playing field with prices so we would now buy American what we used to buy Mexican.
Then demand becomes less for Mexican goods, and they come crying for help.
But isn’t it amusing to watch the pantywaists to run around wringing their hands? :)
Trump will set the conditions for US companies to operate competitively globally by reforming tax laws allowing them to produce goods at competitive prices for American consumers, who, in turn, will have good paying jobs at those same companies.
Mexico can suck it up and pay the freight.
Fixed.
Their peso is slipping in the stock market as we speak.....
IMO, the debate is over.
The Free Traders much of which actually wasn’t, got to reveal the magic of their dreams for us.
IT DIDN’T DELIVER, unless unemploying Americans, screwing the middle class, and increasing poverty was the ultimate goal.
It’s time to go back to sanity, just like many of us explained would have to happen.
We’ll here we are.
China has our technology, is an emerging major headache, and our nation was sapped dry.
NO MAS!
And those high-paying jobs we’re trying to “save?” Where do you think domestic companies find the money to pay the “higher” wages? Through higher prices, naturally . . . enabled by the very tariff placed on that company’s foreign competition. So yes, you will pay for the wall whether you buy Mexican goods or not. LOL, suckers.
Tariffs were a basic principle of the Republican Party and Conservatism until the globalist hijacked the party starting with Ike.. George Washington was a protectionist.
The 1924 Republican Platform:
We reaffirm our belief in the protective tariff to extend needed protection to our productive industries. We believe in protection as a national policy, with due and equal regard to all sections and to all classes. It is only by adherence to such a policy that the well being of the consumers can be safeguarded that there can be assured to American agriculture, to American labor and to American manufacturers a return to perpetrate American standards of life. A protective tariff is designed to support the high American economic level of life for the average family and to prevent a lowering to the levels of economic life prevailing in other lands.
So now you know better right?
So many people don’t understand Trumps techniques, but that is part of how they work.
Thank you for being part of the solution.
You need not waste your time or mine lecturing me on the wonderful benifits of free trade with Mexico or China. Free trade with free and friendly nations with similar economic and regulatory situations is great. Places like China we are buying that rope Carl Marx said we would. I’d rather pay higher prices than higher taxes any day. Higher taxes come with way too much baggage.
A 30% more than triples the necessary retail price to cover the increased labor costs.
You forgot about the debt we incurred buying all that “cheap” imported stuff that now lays in landfills all of the fruited plain.
..some play beanbag, some play hardball—DJT plays the latter, and wins...
They need to find a safe space and attempt to understand what Trump is going to do.
They need to find a safe space and attempt to understand what Trump is going to do.
Yup. And the unwashed do not understand the effects of the huge trade imbalance to America.
Amen to that!
LOL, so true.
Remember those first VCRs that cost 50% of what the previous ones did? All you had to do was buy a new one very six months. Heck, I saved a hell of a lot of money buying stuff made in China.
(insert rim-shot)
1860 GOP winning platform:
http://www.presidency.ucsb.edu/ws/?pid=29620
...12. That, while providing revenue for the support of the general government by duties upon imports, sound policy requires such an adjustment of these imports as to encourage the development of the industrial interests of the whole country; and we commend that policy of national exchanges, which secures to the workingmen liberal wages, to agriculture remunerative prices, to mechanics and manufacturers an adequate reward for their skill, labor, and enterprise, and to the nation commercial prosperity and independence...
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