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“Tariffs are the greatest!”

MBRO

The Jack Dunlap Club
Gold Member
Dec 8, 2003
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Can someone explain this statement to me?

Both the conservative Tax Foundation & Trump’s former economic adviser, Gary Cohn, have said tariffs will erase potential wage benefits of the GOP tax cuts.

 
“Government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.”

 
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The trumpeters are slowly going quiet. It’s that becoming that moment when they realize they voted for a liberal businessman because he hated the same races as them.
 
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Also, a reminder that Congress can stop this tariff nonsense anytime they feel like it.

 
“Government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.”


So the plan is to take value generation out of the economy and replace it with Taxes and debt. It's like the democrats and republicans are racing to see who can do communism better.

Turns out it's the republicans.
 
So the plan is to take value generation out of the economy and replace it with Taxes and debt. It's like the democrats and republicans are racing to see who can do communism better.

Turns out it's the republicans.

Trade is my big beef with Democrats (as we knew them 10 years ago, at least). I tend to just trust economists on these things and think that protectionism is generally stupid. Then again, I haven't gotten the memo that experts are all liars who are paid for by whatever the other side is and we should make all our decisions on gut feel.
 
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I think trump is the biggest moron on the planet (maybe #2 behind the guy SBC trolled) but you can’t let our farmers go out of business. Imagine the security issues if we weren’t able to produce enough food for our country.

That being said, Donny boy is destroying our economy one petty tweet at a time. And the republicans just sit there and watch it happen.
 
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I think trump is the biggest moron on the planet (maybe #2 behind the guy SBC trolled) but you can’t let our farmers go out of business. Imagine the security issues if we weren’t able to produce enough food for our country.

That being said, Donny boy is destroying our economy one petty tweet at a time. And the republicans just sit there and watch it happen.

I think you've got some wires crossed here. If those farmers were primarily supplying the US they wouldn't be in tons of trouble because of the tariffs. They're not giving subsidies to the people who grow fruits and veggies in California.
 
Dudes tariffs are the greatest because TRUMP says so. Forget what economists are saying ... TRUMP knows more than any so called expert on any subject he cares to comment on. The Trumpians are going quiet because TRUMP is sending conflicting messages this week. He and Hannity will soon tell them what they should think and they will be back in lock step.
 
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So the plan is to take value generation out of the economy and replace it with Taxes and debt. It's like the democrats and republicans are racing to see who can do communism better.

Turns out it's the republicans.
German paved the way. Run on hate, people can rally behind that.
 
I believe we have have just seen the fruit of Trump's negotiating tactics/abilities with this EU oligarch. Zero tariffs.
I have said before that I don't agree with tariffs from a purely economic theoretical point of view. Who would, except for a total isolationist. I've also said in other threads that I trusted Trump because I knew he was basically playing a game of chicken with the various entities. Well, the EU just blinked. Trump is counting on the the fact, or at least the perception that we can ride out the negative aspects of tariffs longer than our adversary in the game. Winning.
 
I believe we have have just seen the fruit of Trump's negotiating tactics/abilities with this EU oligarch. Zero tariffs.
I have said before that I don't agree with tariffs from a purely economic theoretical point of view. Who would, except for a total isolationist. I've also said in other threads that I trusted Trump because I knew he was basically playing a game of chicken with the various entities. Well, the EU just blinked. Trump is counting on the the fact, or at least the perception that we can ride out the negative aspects of tariffs longer than our adversary in the game. Winning.


You think we can hold out longer than China??? The problem is Americans aren’t taught any eastern philosophy. We will always lose to Asians. Why do you think we had to nuke Japan????

Which country has president for life also? China only has to hold out for 2.5 more years.
 
You think we can hold out longer than China??? The problem is Americans aren’t taught any eastern philosophy. We will always lose to Asians. Why do you think we had to nuke Japan????

Which country has president for life also? China only has to hold out for 2.5 more years.

Time will tell, I guess. I do believe that we needed to reset our steel and aluminum production for defense purposes. Why not use tariffs as the jumping off point? There's no doubt that Xi and the Chicoms would starve their own people. They've done it before. Maybe the admin has a plan to make it up in India? I really don't know, but I guarantee you that they have a well thought out plan. Trump is certainly not the dumbass some try to make him out to be, but again, time will tell when it comes to China.
 
The trumpeters are slowly going quiet. It’s that becoming that moment when they realize they voted for a liberal businessman because he hated the same races as them.

What a bunch of blow hards as Trump makes a deal with the EU on trade with more to come!! Take that and smoke it you amateur wannabe experts. Take yalls diapers off...we have a man dealing with the crap we been putting up with on trade....its a ride.
 
Time will tell, I guess. I do believe that we needed to reset our steel and aluminum production for defense purposes. Why not use tariffs as the jumping off point? There's no doubt that Xi and the Chicoms would starve their own people. They've done it before. Maybe the admin has a plan to make it up in India? I really don't know, but I guarantee you that they have a well thought out plan. Trump is certainly not the dumbass some try to make him out to be, but again, time will tell when it comes to China.
The man is a dumbass. He lies every other word and you ignore it. He failed at his fathers business. The only good thing he did was figure out how to succeed as a celebrity and faking success. I just don’t trust “faking success” will work for the US economy.
 
What a bunch of blow hards as Trump makes a deal with the EU on trade with more to come!! Take that and smoke it you amateur wannabe experts. Take yalls diapers off...we have a man dealing with the crap we been putting up with on trade....its a ride.

The “deal” you refer to was an agreement to not do further tariffs until they come up with an actual deal. If this goes like all of the other “deals” that trump has “accomplished” as president, should be smooth sailing.
 
The “deal” you refer to was an agreement to not do further tariffs until they come up with an actual deal. If this goes like all of the other “deals” that trump has “accomplished” as president, should be smooth sailing.

Oh?...like the tax plan for instance?
 
The man is a dumbass. He lies every other word and you ignore it. He failed at his fathers business. The only good thing he did was figure out how to succeed as a celebrity and faking success. I just don’t trust “faking success” will work for the US economy.

Just for a reference point, tell me what you think about Obama.
 
Oh?...like the tax plan for instance?

Every republican has signed a tax cut, expect maybe bush senior who followed Reagan. Hell even Obama signed a tax cut when he chose to extend the bush era tax cuts. If that ends up being trump’s significant accomplishment in his 3-4 years, that is just sad.
 
The man is a dumbass. He lies every other word and you ignore it. He failed at his fathers business. The only good thing he did was figure out how to succeed as a celebrity and faking success. I just don’t trust “faking success” will work for the US economy.

So, the economy is not working?
 
The tax plan with no offsetting spending cuts.

While I will always agree that spending needs to be cut and cut greatly, the tax rate reduction does not need "offsetting" in order to protect the "bottom line".
Reducing tax rates will always result in higher tax receipts. You have told us that you are a conservative. So, you know the economy is not a zero sum game.
 
So, the economy is not working?
So obama did a good job fixing the economy also?

us-real-gdp-2007-2016-600x558.png


And I’m not an obama fan, just think it’s funny he said obama’s numbers didn’t mean anything and then he started bragging about how well he made the economy based on the same numbers haha. The economy is moving with or without those two idiots. All they can do is mess it up.
 
While I will always agree that spending needs to be cut and cut greatly, the tax rate reduction does not need "offsetting" in order to protect the "bottom line".
Reducing tax rates will always result in higher tax receipts. You have told us that you are a conservative. So, you know the economy is not a zero sum game.

Your premise is demonstrably false. Government revenues have never increased from a tax cut.

Edit: I should say significant tax cut. I can't account for every single one ever
 
While I will always agree that spending needs to be cut and cut greatly, the tax rate reduction does not need "offsetting" in order to protect the "bottom line".
Reducing tax rates will always result in higher tax receipts. You have told us that you are a conservative. So, you know the economy is not a zero sum game.
I have a masters in economics from your favorite football school and I will tell you these tax breaks are irresponsible.
 
I have a masters in economics from your favorite football school and I will tell you these tax breaks are irresponsible.

So, you were against Reagan's tax cuts as well? When, in your educated view, are tax cuts responsible? If tax cuts are not responsible now, should Trump have raised tax rates instead? Your degree doesn't impress me. I know a young man who recently graduated from my Alma Mater in Econ and he had a distinctly Keynesian view. Obviously, you do as well.
 
False dichotomy

You argue like a bot. So, I'm suppose to accept that Trump's tax cuts are irresponsible just because you say so? You sound like Maxine Waters. Sorry if I'm being abrasive, but you have described yourself as a Goldwater conservative, with a Master's degree in Econ and you're opposed to the recent tax cut.
 
You argue like a bot. So, I'm suppose to accept that Trump's tax cuts are irresponsible just because you say so? You sound like Maxine Waters. Sorry if I'm being abrasive, but you have described yourself as a Goldwater conservative, with a Master's degree in Econ and you're opposed to the recent tax cut.
You don't have to believe anything I say. We really do need to cut taxes, but their are different ways to do that. Hell if that tax plan was up to me it would be about 3 pages max. It needs to be simplified big time.
 
From the linked article:

Despite the record amount in individual income taxes collected in the first ten months of this fiscal year, overall federal tax collections declined in the first ten months of this fiscal year compared to last year.
In the October-through-July period of fiscal 2017, the Treasury collected $2,820,673,610,000 in total taxes. In the October-through-July period of this fiscal year, the Treasury collected only $2,766,071,000,000.

While individual income taxes collected in the first ten month of the fiscal year increased from 2017 to 2018, corporation income tax collections declined. In the October-through-July period of fiscal 2017, the Treasury collected $239,013,770,000 in corporation income taxes (in constant July 2018 dollars). In the October-through-July period of fiscal 2018, the Treasury collected $166,004,000,000 in corporation income taxes.


tl/dr - Tax revenue was down $60 billion. This translated into a $684 billion deficit for fiscal October 2017 - July 2018 instead of a $624 billion deficit if taxes had remained unchanged.
 
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