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 ...
When you spread those costs over 1,000,000 TV’s were talking a few bucks. The $30.00 for labor includes all benefits.
Old people are afraid of inflation and flat interest rates. Well the nation’s economic policies can’t just cater to the old. Tariffs cause inflation and THAT IS A GOOD AND DESIRED THING. WE WANT THAT. The tariff causes corporate greed to reverse bias in favor of the US worker. It is long over due.
drivel
Inflation is always and everywhere a monetary phenomenon---Milton Friedman
They don't cause inflation, they raise the prices of some goods and people have less money to spend on other goods. That's not inflationary.
I'm amazed. Static Analysis doesn't work for tax policy...didn't you hear the news?
When RATs talk about how they'll raise $$$ by tweaking the tax code we realize that things won't stay the same..."static..." We realize that behavior and the facts on the ground will change, that increasing taxes 20% will not bring in 20% more revenue.
Maybe just a rhetorical question...why would behavior not change in this case? The success of the policy depends upon predicting it will.
Since Mexico is paying for the wall, we should BUILD THE CADILLAC OF ALL WALLS.
Linda speaks!
“Lindsey Graham ;@LindseyGrahamSC · 52m52 minutes ago
Simply put, any policy proposal which drives up costs of Corona, tequila, or margaritas is a big-time bad idea. Mucho Sad.”
Mexico losing revenue does not pay for the wall. Confiscating money wire transfers from the United States into Mexico from undocumented immigrants (as ill-gotten gains from illegal activity) will.
Most old people are not in the workforce and do not need jobs. Check.
Old people could care less who or where or how something is made as long as it is cheap. Check.
The social ramifications of de industrializing the USA and idling huge swaths of the workforce will not affect them due to their life expectancy. Check.
Conclusion: There is a generational aspect to the tariff which favors the young worker over the old retiree.
Possibly, but that won't last long as more and more companies fill the void by competing in America. And the benefits from having jobs in the US will far outweigh any costs that are passed on.
That’s right, tariffs are a tax affecting certain imported items.
Inflation is a monetary phenomenon affecting virtually everything.
That is the point. The greed factor kicks in and the profit margin increases for the domestic manufacturer and the result is more Americans working. The tariff reverses the bias in favor of the US worker but not for altruistic reasons but because of greed. We agree on something at last.
Agree.
Precisely why Marx "favored" free trade.
I’m old and welcome inflation that is coming even without tariffs
Proper investments are not hurt by changing interest to the mean
The definition of inflation is too many dollars chasing to few goods.
The point is, it's not inflationary.
The greed factor kicks in and the profit margin increases for the domestic manufacturer and the result is more Americans working.
Yes, more working in certain sectors with rising prices and less competition.
Fewer working in those sectors where spending falls due to higher prices in those tariffed sectors.
The tariff reverses the bias in favor of the US worker
Favors some, harms others.
If Americans boycotted Mexican and illegal alien pushing businesses, this problem would solve itself for the most part.
Americans are fat, cheap, and lazy - and part of the problem.
I can think of at least 10 companies off the top of my head that use illegal labor in my area.
I hope the tariff applies to produce. Much of our produce in supermarkets, including almost all tomatoes, comes from Mexico—and I refuse to buy it because I love my health too much. Maybe the tariff will induce retailers to get their produce from the good old USA.
Add up the money that was recently sent to Iran.
Add up the money sent to Pakistan, India, etc.,
Add up the money Obama’s spent on Vacation Junkets.
Add up the money wasted in Welfare fraud.
Yeah, the time for talk is over....... Let’s get the Wall Done!
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