Posted on 10/21/2024 6:08:02 PM PDT by Mr. Mojo
Donald Trump has an aggressive plan to spur economic growth, reduce the federal budget deficit, ease inflation, and lift up everyday Americans who have struggled during the Biden-Harris administration. Mr. Trump’s plan, which he outlined Sept. 5 at the Economic Club of New York, includes keeping the 2017 tax cuts in place permanently, reducing costly regulations, cutting government spending, and making smart use of tariffs to restore American manufacturing.
Donald Trump has an aggressive plan to spur economic growth, reduce the federal budget deficit, ease inflation, and lift up everyday Americans who have struggled during the Biden-Harris administration. Mr. Trump’s plan, which he outlined Sept. 5 at the Economic Club of New York, includes keeping the 2017 tax cuts in place permanently, reducing costly regulations, cutting government spending, and making smart use of tariffs to restore American manufacturing.
The proposal for tariffs has raised the typical concerns from economists who argue for free-trade policies. Their views reflect traditional economic orthodoxy, not reality. In the real world, we have a one-sided free-trade policy in which America isn’t nearly as protectionist as other countries. The U.S. imposes only an average 2% tariff on imported industrial goods, while many other countries have both high tariffs and nontariff trade barriers. According to the Bureau of Economic Analysis, the merchandise trade deficit has exploded under President Biden, reaching a yearly record $1.2 trillion in 2022 and hitting a July record of $103 billion in 2024.
This imbalance has been devastating for U.S. industry. Since 2000, thousands of factories have closed, wages have stagnated, communities have deteriorated, and economic inequity has intensified. By contrast, foreign companies exporting products into the U.S. have prospered. Mr. Trump recognizes this, which is why as president he was tough on China and negotiated better trade deals.
(Excerpt) Read more at wsj.com ...
Was watching Charles Payne on Fox Business the other day.
He reported, to my surprise, Biden kept most of the “Trump Tariffs” and has even increased many
Thanks.
Goods are not expensive enough. We need higher inflation.
The issue with the cost of goods are labor and transportation and availability.
If Trump cuts the cost of transportation of goods by 50% then goods become more available. And prices come down.
“ Mr. Trump’s plan, which he outlined Sept. 5 at the Economic Club of New York”
Yes. This is up at YouTube.
Trump talked and answered many question to a serious group with no teleprompter, notes, earpieces etc…
He also has made similar visits in other financial centers to like groups.
And he was received incredibly well.
To my knowledge Harris has done nothing of the sort.
Because she can’t.
“Goods are not expensive enough. We need higher inflation.”
I think you forgot you sarcasm tag. If you didn’t forget it STFU.
> We need higher inflation.
which we curreently get in spades when we import cheap products from overseas, pay for transport fuel and labor, allow corporations their excess profit margin based on overseas child labor and unenforced/nonexistent environmental laws, value added taxation, and non-democratic and/or extra-national bureaucracies. not to mention the loss of local purchasing power and the imbalance of trade leading to trade deficits.
Fixed it. Other industrialized countries laugh at out stupid economists. They want nothing to do with free trade. Do you think EU and Chinese economists think like ours do in the USA? Hell no.
The USA has the the most irresponsible myopic economists - bar none.
Yo are a myopic buffoon.
Then keep buying from China.
“ Then keep buying from China.‘
Good idea. Off to buy a Trump Bible.
The biggest thing that will bring down prices post tariff will be DOMESTIC competition. Remember that? Sure you do.
>> We need higher inflation.
> which we curreently get in spades when we import cheap products from overseas, pay for transport fuel and labor, allow corporations their excess profit margin based on overseas child labor and unenforced/nonexistent environmental laws, value added taxation, and non-democratic and/or extra-national bureaucracies. not to mention the loss of local purchasing power and the imbalance of trade leading to trade deficits.
I neglected to mention the stealing of intellectual property which contributes to the lack of domestic incentive to innovate. Sorry about that...
Prices cannot fall below the cost of production. Production is the sum labor, materials, and transportation cost. If competition can’t lower the cost of those three thing prices will remain high
Do you think John Deere was going to lower the price of their tractors once Paco in Chihuahua was going to make them? LOL.
Tariffs are just taxes that are eventually paid by the end user. They’re not magic, and have some downsides worth discussing before Trump starts telling us how good they are.
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