Posted on 06/30/2018 10:07:07 AM PDT by ChicagoConservative27
President Trump is justifiably proud of passing tax reform last December, telling audiences because of our tax cuts, you can keep more of your hard-earned money. Hes right: American taxpayers will save $75 billion this year and $189 billion next year, according to the Joint Committee on Taxation.
Yet the presidents tariffs on imports could negate much of the tax relief hes been bragging about. These levies are not paid by foreign countries or companies. They are passed on to American consumers in the form of higher prices for either foreign or U.S.-made goods.
The Trump tariffs are now clawing back tax savings at a rate of roughly $10.6 billion per year. The levies already in place include 25% on steel (imports in 2017 were an estimated $23.4 billion), 30% on solar panels ($8.5 billion), 10% on aluminum ($18 billion) and 20% on washing machines ($1.8 billion).
Thats chump change compared with what may be coming. On July 6, a 25% tariff kicks in on 818 Chinese imports worth $34 billion, costing Americans another $8.5 billion a year. If China retaliates, Mr. Trump has said hell slap a 10% tariff on an additional $200 billion of Chinese exports. The president warned last week that if Beijing responds a second time, he could levy a tariff on $200 billion more in Chinese exports. And an administration proposal for a 25% tariff on 284 Chinese exports to the U.S., whose value was $16 billion in 2017, is pending.
(Excerpt) Read more at rove.com ...
He’s a canned ham, apparently lasts for awhile.
For whatever it’s worth, there was an era where the whole bloomin’ Fedgov was primarily supported not on income taxes but on tariffs. There was a bias to the domestic.
I think with China this, China that, we’ve gotten to the point of ridiculousness. It would be one thing if China had been led to progress to become another Westernized oriental society like Japan or South Korea or Taiwan. But they’re still playing the socialist game — they can, because they are making money hand over fist to subsidize it. Let China come under economic pressure and it, too, may see the wisdom in freedom.
This seems uncalled for.
Personally I would rather pay more for an American made product then a cheap china one, but have you tried to buy American? It is all crap from China.
Hurrah and hallelujah, I so agree. We are drowning in cheap junk from China, but no one has substantial savings, or secure jobs.
"We must destroy the middle-class American citizens to over-fund the 1% special people. The party must go on."
I think he has plenty of gray matter. Unfortunately, he uses it to help the globalists who put him where he is.
The Turd Blossom attempts to “bloom” again! There was a time I thought of Rove as a “magnificent bastard!” Now, in hindsight just plain bastard fits a whole lot better.
Yes. The worst stupidity is that of brilliant people. Not of those actually of feeble mind.
Amen!
Good point. China (its own elite leadership, I mean) has used the benefits of economic growth merely to enrich themselves, pacify their people with as little gain as possible, and entrench their own power (and their own material desires).
Tariffs have zero to do with tax cuts. If you dont want to buy something that is beyond your price point no one puts you in
Prison if you done. If you dont pay your taxes, they put you in prison. I just heard we import cherries from Turkey. Our cherry farmers are bankrupt. To hell with turkey. Tariffs the crap out of their cherries
We all live and learn. The dishonesty and hidden agendas of people in power is always a hindrance.
But I can clearly remember here on FR when he was
ROVE! YOU MAGNIFICENT BASTARD !
Things change.
Did you ever read my piece on Rove’s uselessness in elections, despite his legendary knowledge of minutia down to the precinct level?
Let’s look again at the races, and about recent history. We can look at the performances of the Establishment Republicans (say, in recent elections), and drill down a bit on this election.
In past elections, (say 2002, 2004, 2006, 2008) we had the following:
2002 — a year after the 9-11 attacks, and Americans want security, dammit! The GOP gains 8 seats in the House and 2 in the Senate.
2004 — Presidential Election; the first one after the “Sore Loserman” debacle in Florida in 2000, and the first one after 9-11.
The GOP picks up 3 seats in the House, the Donks lose 2.
The GOP picks up 4 Senate seats, the Donks lose 4.
Bush wins 31 states, but a mere 286 electoral votes, with a bare 50.7% of the popular vote.
2006 — the Midterm elections for Bush’s second term.
The Dems pick up the House, gaining 31 seats, while the GOP loses 30.
The Dems get the Senate, too, winning 6 seats.
This despite the presence of “The Architect” Karl Rove who brags about his detailed knowledge of the ground game.
But (as we will see) he learned his lesson, after a fashion.
2008 — the annointing of Teh One.
Obama wins 365 electoral votes in 28 states + a single Congressional district in Nebraska. (Nebraska??!!)
The Donks extend their lead in the House, gaining 21 seats.
And in the Senate, they run the table, gaining 8 seats.
The election is marked by numerous unchallenged shenanigans, including voter fraud (voting by felons, votes found in car trunks) in Minnesota, and infamous re-counts in Washington State.
The only thing preventing a total rout is Sarah Palin, who is roundly condemned by the establishment, but targeted by the Dems, after being trashed by advisors lent by the Rockefeller wing of the GOP (as detailed later in Going Rogue).
So, let’s look at the record of the Establishment GOP since the first election of George W. Bush (where the victory was so narrow that the Dems complained he was “selected, not elected.” (And that, over Clinton’s hand-picked successor.)
House: +8 +3 -30 -21 net —> -40
Senate: +2 +4 -6 -8 net —> -8
Heckuva job, Karl.
Compare that to the Tea Parties:
House: +65
Senate: +6
And before you whine, “Hey, no fair! Everyone hates Obama!”
...no, they didn’t. Not two years ago. The Donks were so confident, they were still guaranteeing to keep the House as recently as this summer.
= = = = = = = = = = =
Source : http://www.freerepublic.com/focus/fbloggers/2620365/posts
How many lives did this fool and his boss cost America during their eight years of playing their game of "wartime leader"?
Karl Rove, not a good source for economic analysis, or any other analysis for that matter.
So much needs to change in this country, every little shift requires another one. The left has played the long game, to their benefit, forever. Thats the good part of being ideologically focused. We havent. Thats the bad part of having a globalist elite leadership (they have those too of course, but they must always kowtow somewhat to those on their side who are ideologically driven). Just think what it took for them take control of education, it started, if I had to give one defining moment, with John Dewey. We have to learn to think the same way.
I really have a profound dislike for this individual.
I haven’t liked him since he worked for Bush.
He is certainly capable of a hit and run with a headline like that to demonize President Trump. Sad to say, many people only read headlines.
He did that deliberately.
“The dishonesty and hidden agendas of people in power is always a hindrance.”
So true! But the media plays an inordinately large role here. It took Donald Trump to truly open everyone’s eyes to the fact that both Parties have been screwing us for at least a half-century!
“Without a vision the people perish.”
Does the outsourcing genie forever have to have escaped his bottle?
Here’s where as a fellow who has been in the technical engineering world for over 30 years, I’ve seen a difference between the older spirit of business (both employee and manager) in America and the present spirit. The older spirit was advancement minded; the newer one is career slot minded. It’s easy to get barely adequate IT workers from India to work in the USA. It’s harder to find them with a vision; most who have a vision eventually want to be helping their native India with their skills, for very understandable reasons. As a good generalist, I’ve found a harder and harder time getting a slot that will accept me. I was a product of the older American vision, and the newer one is stifling and the temptation is there to try to transcend things, only to be smacked down.
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