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 ...
It’s basically just a wealth transfer from American consumers to American producers
“Wealth Transfer” an interesting way of putting it.
So when I go shopping and buy something it is now “wealth transfer”?
Isn’t that also called “capitalism”?
This would be Americans paying for the wall.
Don’t we already pay for everything now? Why should this be any different?
I want the border secured. Damn the cost. Whatever it turns out to be, it will be lower than what we will have to pay over the years by not doing it.
The subject is taxation, and yes, it's a wealth transfer.
This would be Americans paying for the wall.
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Only if Americans buy the products. I don’t intend to buy any products from them.
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