Trump's Trade Wars - another disaster
POSTED BY: captaincrunch
UPDATED: Tuesday, July 7, 2020 08:51
VIEWED: 14929
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Quote:
Originally posted by JEWELSTAITEFAN:Quote:Did that work fo
Originally posted by JEWELSTAITEFAN:Quote:??
Originally posted by SIGNYM:Quote:JSF, you posted ...
I don't think that cutting taxes in THIS situation will reduce the deficit. - SIGNY
You can argue with CBO about that. Lettuce know how well that works for ya. - JSFQuote:I went to the CBO website and there was NOTHING there like this. So if you have information that none of us have ... LINKS, PLEASE?
You should try reading some news sometime, instead of 3-month old outdated gibberish, which every reasonable person knew it was when it was propagated.
A few weeks later, the CBO announced that they were off by $2.95 Trillion, and the Trump Tax Reform would actually reduce the debt by $1.45 Trillion, after several years of first paying back the $1.5 Trillion.Quote:As I requested: LINKS, PLEASE?
To be technically accurate, I don't believe any reasonable projection has indicated the Obamanomics bloat will be halted soon enough to actually reduce the Debt in that timeframe, but the CBO was comparing the projections from before the Tax Reform, and then comparing again a few weeks later.Quote:It's not that I don't like it, it's that I don't know exactly what it is or how its supposed to work. Here are two threads of thought that I have on the topic ....
So, I do NOT agree with Trump's tax cut, unless there's something about "repatriation of capital" that I don't understand. When I have more time I'll research it.- SIGNY
Why don't you like Repatriation of Capital?- JSF
1) It's possible to reduce imports into the USA by charging tariffs, and if the tariffs are high enough you can essentially block certain imports. BUT, just because there is a deficit of (say) automobiles in the USA and (because of reduced supply and steady demand) the price goes up from $25,000 to $50,000, altho that represents an investment opportunity, that doesn't necessarily mean that any company will actually step in and invest. Perhaps the total investment is too high, or interest rates are too high, so altho the "environment" might be good, actual investment might not happen.
2) At the same time, if taxes allow profit to remain in the USA, PERHAPS that money would be used for investment.
So possibly between a "push" (availability of money) and a "pull" (demand for product) the right investment would happen to re-industrialize America, but it seems a bit indirect/ uncertain.
Did you miss the news of Apple's Repatriation of Capital, about $380 Billion worth? They contributed something like $38 Billion to Federal Revenue coffers.
Yes, they decided to contribute that much Taxes.
For the CBO stuff, I can't easily do linkies right now.
You can try this: go to this post fireflyfans.net/mthread.aspx?bid=18&tid=61505&mid=1056025
If that explanation is not enough for you, check the source data at CBO. They don't make it easy, and their written reports are garbage, hoping you won't notice how badly they lied the last month, every month. Use one of the links in that thread for CBO publications, and change the number to 53651 for the April report, and then 53884 for the May report.
IIRC, you want to look at the numbers at the end of the next decade, and compare. They tried very hard to obfuscate, but the numbers really are there.
Hopefully that gets you what you want.
The figures I posted above and you quoted are from recall and are slightly off, but the figures at the linked post are correct.
The April report is the Fake one, published so they could generate some Fake News headlines. That's the one where they say Tax Reform will add $1.9 Trillion to the Debt, compared to what they had projected previously.
The May report is where they backtracked to the vicinity of reality.
I posted the figures side by side in this post from that thread: 1053414.NOTIFY: Y | REPLY | REPLY WITH QUOTE | PERMALINK | TOP | HOME
Quote:
Originally posted by JEWELSTAITEFAN:Quote:??
Originally posted by SIGNYM:Quote:JSF, you posted ...
I don't think that cutting taxes in THIS situation will reduce the deficit. - SIGNY
You can argue with CBO about that. Lettuce know how well that works for ya. - JSFQuote:I went to the CBO website and there was NOTHING there like this. So if you have information that none of us have ... LINKS, PLEASE?
You should try reading some news sometime, instead of 3-month old outdated gibberish, which every reasonable person knew it was when it was propagated.
A few weeks later, the CBO announced that they were off by $2.95 Trillion, and the Trump Tax Reform would actually reduce the debt by $1.45 Trillion, after several years of first paying back the $1.5 Trillion.Quote:As I requested: LINKS, PLEASE?
To be technically accurate, I don't believe any reasonable projection has indicated the Obamanomics bloat will be halted soon enough to actually reduce the Debt in that timeframe, but the CBO was comparing the projections from before the Tax Reform, and then comparing again a few weeks later.Quote:It's not that I don't like it, it's that I don't know exactly what it is or how its supposed to work. Here are two threads of thought that I have on the topic ....
So, I do NOT agree with Trump's tax cut, unless there's something about "repatriation of capital" that I don't understand. When I have more time I'll research it.- SIGNY
Why don't you like Repatriation of Capital?- JSF
1) It's possible to reduce imports into the USA by charging tariffs, and if the tariffs are high enough you can essentially block certain imports. BUT, just because there is a deficit of (say) automobiles in the USA and (because of reduced supply and steady demand) the price goes up from $25,000 to $50,000, altho that represents an investment opportunity, that doesn't necessarily mean that any company will actually step in and invest. Perhaps the total investment is too high, or interest rates are too high, so altho the "environment" might be good, actual investment might not happen.
2) At the same time, if taxes allow profit to remain in the USA, PERHAPS that money would be used for investment.
So possibly between a "push" (availability of money) and a "pull" (demand for product) the right investment would happen to re-industrialize America, but it seems a bit indirect/ uncertain.
Did you miss the news of Apple's Repatriation of Capital, about $380 Billion worth? They contributed something like $38 Billion to Federal Revenue coffers.
Yes, they decided to contribute that much Taxes.
For the CBO stuff, I can't easily do linkies right now.
You can try this: go to this post fireflyfans.net/mthread.aspx?bid=18&tid=61505&mid=1056025
If that explanation is not enough for you, check the source data at CBO. They don't make it easy, and their written reports are garbage, hoping you won't notice how badly they lied the last month, every month. Use one of the links in that thread for CBO publications, and change the number to 53651 for the April report, and then 53884 for the May report.
IIRC, you want to look at the numbers at the end of the next decade, and compare. They tried very hard to obfuscate, but the numbers really are there.
Hopefully that gets you what you want.
The figures I posted above and you quoted are from recall and are slightly off, but the figures at the linked post are correct.
The April report is the Fake one, published so they could generate some Fake News headlines. That's the one where they say Tax Reform will add $1.9 Trillion to the Debt, compared to what they had projected previously.
The May report is where they backtracked to the vicinity of reality.
I posted the figures side by side in this post from that thread: 1053414.
Hopefully this linky will wo
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T 
Trump the moron starts trade wars with the rest of the world including our best allies. Millions of Americans well being are in jeopardy. Whats Trumps next move? If he's not on the campaign trail he's on vacation golfing.
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You know what's HILARIOUS?
Hubby worked for the coal mines until Obama, and now he works for a company that is going to be affected by the tariffs. In fact, they have already pared his department down to skeleton crew and he's doing the job of 3 people so this company, which made 7 BILLION dollars last year, could squeeze a few more nickels out.
Fucked by a black Prez, fucked by a white Prez...
Doesn't matter the color... we get fucked by the almighty dollah.
Dear Buddha...please, give all the politicians necrotizing fasciitis. They have it coming, really.
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Quote:
Originally posted by Wishimay:
You know what's HILARIOUS?
Hubby worked for the coal mines until Obama, and now he works for a company that is going to be affected by the tariffs. In fact, they have already pared his department down to skeleton crew and he's doing the job of 3 people so this company, which made 7 BILLION dollars last year, could squeeze a few more nickels out.
Fucked by a black Prez, fucked by a white Prez...
Doesn't matter the color... we get fucked by the almighty dollah.
Dear Buddha...please, give all the politicians necrotizing fasciitis. They have it coming, really.
Hey....
Look who's finally starting to get it.
I'd only add "Fucked by a Republican Prez, Fucked by a Democrat Prez"
And as soon as we have our first female president, we can add that the people being fucked by our government isn't gender exclusive either.
Do Right, Be Right. :)
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I was apolitical before you could spell it, boy-o.
You are really looking forward to having a female prez so you can blame women even harder, aren't you?
Sorry, one woman could NEVER outdo the screw ups of the last 45.
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The city calls itself the “RV Capital of the World” — more than 80 percent of the vehicles sold in the United States are made in the area of Elkhart, Indiana, according to the RV Industry Association — and Mr. Trump’s tariffs on imported steel and aluminum are increasing costs, diminishing demand and causing concern that a 10-year boom cycle could be waning.
Shipments of motor homes were down 18.7 percent in June compared with a year ago, and shipments of smaller trailers and campers were down 10.5 percent, according to the RV Industry Association.
Some companies have cut back to four-day workweeks. Amid strong job gains nationally, hints of rising wages and solid overall economic growth, Elkhart’s health is decidedly ambiguous.
“I think it’s a yellow light,” said Richard Curtin, a University of Michigan economist who is a consultant to the R.V. industry. “Depending on how things evolve in six months, it could be a red light, getting to the end of the expansion.”
Dan Holtz, the county Republican chairman, says blaming the drop-off of sales on higher tariffs was “myopically political.” Mr. Trump is using the tariffs as a negotiating tactic.
Mike Yoder, a Republican and an Elkhart County commissioner, said that was far too charitable. “My perspective is our folks in Washington are not being honest. There is no plan. This is a very dangerous way to negotiate a trade deal. Folks like people in Elkhart are going to suffer.”
More at www.msn.com/en-us/news/politics/as-elkhart-ind-goes-so-goes-the-nation
-and-elkhart-is-nervous/ar-BBNcgLH?ocid=spartanntp
The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at www.mediafire.com/folder/1uwh75oa407q8/Firefly
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Trump is failing to keep his promises:
U.S. imports hit all-time high, trade deficit with China sets new record despite tariffs
The trade deficit with China set a new record despite U.S. tariffs meant to punish the country for what the U.S. considers unfair trade practices.
The U.S. trade deficit added up to almost $447 billion in the first nine months of 2018. That compared to about $404.5 billion in the same span in 2017.
The U.S. is on track to post its biggest deficit in a decade.
www.marketwatch.com/story/us-imports-hit-all-time-high-trade-deficit-w
ith-china-sets-new-record-despite-tariffs-2018-11-02
The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at www.mediafire.com/folder/1uwh75oa407q8/Firefly
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Quote:
Originally posted by Wishimay:
I was apolitical before you could spell it, boy-o.
You are really looking forward to having a female prez so you can blame women even harder, aren't you?
Sorry, one woman could NEVER outdo the screw ups of the last 45.
Why not?
I have faith that a woman can be just as corrupt as any man who's done the job before her.
Do Right, Be Right. :)
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The U.S. is on track to post its biggest deficit in a decade.
Trump’s America First economic policies are designed to shrink the US trade deficit. But according to Janet Yellen, the former chair of the Federal Reserve, the deficit is on track to get bigger by the end of 2018.
Speaking at a conference in Beijing, Janet Yellen said that the steady rise in US interest rates is pushing up the value of the dollar, which will likely cause the US trade gap to widen further.
www.bloomberg.com/news/articles/2018-11-13/yellen-says-fed-more-to-bla
me-for-wider-trade-deficit-than-china
Trump has so far focused on confronting what his administration deems unfair trade practices, erecting trade barriers against countries like China — ostensibly to offset the benefits of these tactics, or possibly to compel the countries to abandon the practices (the administration has never made its rationale all that clear). In her remarks in Beijing today, Yellen offered an implicit rebuke of this logic.
“I do not see unfair trade practices in China, or anywhere else in the world, as what is responsible for the US trade deficit,” said Yellen. “The US trade deficit reflects the fact that Americans spend more than we produce, and we import excess goods and services from the rest of the world to satisfy that demand.”
In other words, other factors influence America’s trade balance more than Chinese protectionism or China’s "unfair" trade practices. Ironically enough, the president’s fiscal stimulus is widening the deficit. The combination of tax cuts and increased spending has juiced demand. And since it takes time for domestic businesses to expand to meet said demand, imports have surged at a faster pace than exports. Beyond that, though, the trade balance reflects the fundamentals of an economy. To shrink the trade gap, Trump’s policies need to encourage a higher rate of savings. But his tax cuts and budgets policies are doing just the opposite. Instead of investing in America, Americans are buying things that don’t sustain long-term growth — consumer goods made in China, for instance.
More at https://qz.com/1461846/
The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at www.mediafire.com/folder/1uwh75oa407q8/Firefly
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