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115% of Trump's China tariff revenue going to pay angry farmers

By Automan Empire follow Automan Empire   2018 Dec 21, 9:43am 1,734 views   17 comments   watch   nsfw   quote   share    


Turns out Trump's blustering trade war is a fiscal net loss for America. I'm at a perpetual loss trying to understand the mindset of his diehard supporters.

https://www.cfr.org/blog/115-percent-trumps-china-tariff-revenue-goes-paying-angry-farmers
1   NoCoupForYou   ignore (5)   2018 Dec 21, 10:56am     ↓ dislike (0)   quote   flag        

Council for Foreign Relations is a neoliberal globalist propaganda outfit. They want unlimited immigration and wide open borders and endless wars.

We already tried the "Let's free trade one way and see if they reciprocate" for 30 years. It didn't work, end of story. Now it's time to retaliate.

Tariffs industrialized both the UK and the US. Free Trade ruined British Industry, no reason to repeat a failed lesson of history. Mexico had free trade, which is why it never industrialized until recently. Meanwhile Germany has big fat tariffs just like they always had and still have today.
2   Onvacation   ignore (6)   2018 Dec 25, 5:57am     ↓ dislike (0)   quote   flag        

Rocketmanjoe says
Unfortunately Trump Dick Suckers will defend Trump on every action even if they don't think it's a good action.

Of course they will! Just like those with Trump Derangement Syndrome would rather have America fail than the president succeed.
3   theoakman   ignore (0)   2018 Dec 25, 7:10am     ↓ dislike (0)   quote   flag        

Automan Empire says
Turns out Trump's blustering trade war is a fiscal net loss for America. I'm at a perpetual loss trying to understand the mindset of his diehard supporters.

https://www.cfr.org/blog/115-percent-trumps-china-tariff-revenue-goes-paying-angry-farmers


The idea behind a tariff is not to generate revenue, it's to allow your domestic economy to establish an industry on its own without worrying about foreign countries pillaging it by exploiting labor that works for slave wages.
4   NoCoupForYou   ignore (5)   2018 Dec 25, 7:22am     ↓ dislike (0)   quote   flag        

Rocketmanjoe says
So are you saying their data is wrong? Maybe Trump has good ideas but poor execution. Unfortunately Trump Dick Suckers will defend Trump on every action even if they don't think it's a good action.


I think they're wrong about everything, and that Economists are really good at fudging and presenting the data to fit their conclusions.

Free Trade is to the current crop of Economists what Marxism is to Critical Literary Theory.

The CFR is just as biased as the Maoist International Movement or Campaign for Marxist-Leninism, but far richer and a stamp of approval for elites.
5   APOCALYPSEFUCKisShostikovitch   ignore (49)   2018 Dec 25, 7:36am     ↓ dislike (0)   quote   flag        

Just because everything did with regard to China trade was wrong and incurred massive losses to everyone everywhere in AMERICA! doesn't mean it's not WINNING!
6   Onvacation   ignore (6)   2018 Dec 25, 8:16am     ↓ dislike (1)   quote   flag        

Rocketmanjoe says

No actually I think they would much rather have America succeed and the president fail.

America's success is the president's success!
Do you think Hillary could have done better?

I thought that Trump might be different but it seems he is just another actor in the political theater.
7   ThreeBays   ignore (0)   2018 Dec 25, 9:43am     ↓ dislike (0)   quote   flag        

The trade war seems to be working as intended: Decreasing America's exports at the benefit of Russia.

https://www.cfr.org/blog/trumps-trade-war-china-makes-russia-great-again
8   ThreeBays   ignore (0)   2018 Dec 25, 10:16am     ↓ dislike (0)   quote   flag        

Onvacation says
America's success is the president's success!
Do you think Hillary could have done better?

I thought that Trump might be different but it seems he is just another actor in the political theater.


So it sounds like you think the president's actions don't have much impact on America's success. Then at least without Trump, economy and markets would be the same but we wouldn't be such a laughing stock in the world.

However I disagree, I think the Tariffs are current biggest negative influence, and that's all Trump. Ford, GM, Tesla, Micron, farmers, construction industry, oil & gas industry, countless other American businesses have been materially harmed by Trump's trade war antics.
9   Onvacation   ignore (6)   2018 Dec 25, 12:33pm     ↓ dislike (0)   quote   flag        

ThreeBays says
I think the Tariffs are current biggest negative influence, and that's all Trump. Ford, GM, Tesla, Micron, farmers, construction industry, US & gas industry, countless other American businesses have been materially harmed by Trump's trade war antics.

What would Clinton have done?
ThreeBays says
a laughing stock in the world.

Who cares what other nations think? He's our clown.
10   Onvacation   ignore (6)   2018 Dec 25, 12:34pm     ↓ dislike (0)   quote   flag        

Besides, Hillary is not funny.
11   theoakman   ignore (0)   2018 Dec 25, 1:16pm     ↓ dislike (0)   quote   flag        

Onvacation says
ThreeBays says
I think the Tariffs are current biggest negative influence, and that's all Trump. Ford, GM, Tesla, Micron, farmers, construction industry, US & gas industry, countless other American businesses have been materially harmed by Trump's trade war antics.

What would Clinton have done?
ThreeBays says
a laughing stock in the world.

Who cares what other nations think? He's our clown.


They can laugh all they want. They are the ones who call for meetings behind the scenes to talk about concessions they can make to prevent tariffs.
12   HEYYOU   ignore (46)   2018 Dec 25, 4:30pm     ↓ dislike (0)   quote   flag        

APOCALYPSEFUCKisShostikovitch says
Just because everything did with regard to China trade was wrong and incurred massive losses to everyone everywhere in AMERICA! doesn't mean it's not WINNING!


Someone has gone right wing nut crazy? ;-)
13   HEYYOU   ignore (46)   2018 Dec 25, 4:43pm     ↓ dislike (0)   quote   flag        

Rocketmanjoe says
Unfortunately Trump Dick Suckers will defend Trump on every action even if they don't think it's a good action.


They will reconsider when they end up with a mouth full of jizz.
Wait! I forgot! They swallow!
14   LastMan   ignore (1)   2018 Dec 26, 6:06pm     ↓ dislike (1)   quote   flag        

Onvacation says
America's success is the president's success!
Do you think Hillary could have done better?


Personally, I think Hillary would have made a bunch of different mistakes. But it doesn't change the fact that Trump has not met expectations, much like every other post-election made-a-bunch-of-promises politician.
15   Booger   ignore (4)   2018 Dec 26, 7:46pm     ↓ dislike (0)   quote   flag        

If this is true, then clearly we need much higher tariffs.
16   anonymous   ignore (null)   2019 Jan 19, 11:23am     ↓ dislike (0)   quote   flag        

Donald Trump’s China tariffs are raising billions. But here’s why China isn’t paying

•Chinese goods have been hit with US$8 billion in tariffs, but it’s US importers who are footing the bill
•US businesses paid US$2.8 billion in new Trump tariffs in October alone, The Trade Partnership economic consultancy estimates

Donald Trump is right to say that his tariffs are generating billions of dollars for the US. But China and other countries aren’t paying them as he’s suggested.

According to data from US Customs and Border Protection, more than US$13 billion in duties imposed by the Trump administration were assessed on imported goods as of December 18.

Actual collections could lag and be lower because of refunds and other factors, but Treasury Department reports show receipts from all customs duties have risen sharply since the tariffs took effect.

While Trump has suggested on Twitter and in public comments that tariffs are somehow being charged to or paid by China and other countries, trade economists say that’s generally misleading. US importers of record are responsible for the duties, and ultimately US businesses and consumers could pay through higher costs, they say.

Trump is “suggesting this is bringing in lots of new revenue and all of the burden is falling on the Chinese,” said Phil Levy, senior fellow on the global economy at the Chicago Council on Global Affairs and a former senior economist for trade for President George W. Bush’s Council of Economic Advisers. “I think that’s mostly false.”

Johns Hopkins University applied economics professor Steve Hanke, a member of the Council of Economic Advisers under President Ronald Reagan, put it more bluntly.

“Tariffs on Chinese imports are paid by Americans, not by the Chinese or their government. The President’s tariffs are simply a #tax on American consumers,” Hanke said on Twitter January 6.

Hanke also pointed out that there are offsets to increased revenue from Trump’s tariffs, including as much as US$12 billion in aid being paid to farmers after China slapped retaliatory tariffs on US agricultural products.

https://www.scmp.com/news/china/diplomacy/article/2182611/yes-donald-trumps-china-tariffs-are-raising-billions-heres-why
17   Tenpoundbass   ignore (16)   2019 Jan 19, 1:05pm     ↓ dislike (0)   quote   flag        

You mean angry Corporations. Farmers never get shit but Live Aid concerts and still lose their farms.

Fuck the Corporate Farmers let them go under and give out government backed loans to hundreds of small farmers willing to take over those corporate massive mega farm operations. They are huge, they are so big they put the small farmers out of business before they raised their prices.

Bye Felicity.

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