More China tariffs going into effect. 10% then later rise to 25% on $200B

[UNCjigga]

I'm don't think he's this stupid but maybe comically out of touch as usual with a person of his wealth or just lying to everybody's faces. Maybe both.

Alternative headline: US government raising taxes on a broad array of consumer goods.

WTF? He said that?? Ok, now I know for sure that he's only in this job because he helped launder Russian money through Cyprus. There's...no other same reason to hire this man as any kind of economic advisor.

 

[Bitek]

I don't know...seems like 10% is 10% and 25% is 25%....especially when Cheeto has put those on nearly half of the imports per year and is threatening the other half. Seems like EVERYTHING from China will get the 10-25% price hike from where I'm sitting, no?

I'm still trying to figure out why he has the unlimited power to enact these tariffs in the name of 'National Security'? I know CONgress knows this as they voted on a nonbinding resolution a few months ago stating as much.

How many modest income Trumpos even realize he's completely undercut their tax cuts with all these tariff taxes?

Dems should be out banging the drums on this.

 

[K1052]

One of the MAGA hats I regularly interact with today proudly showed me pics of his new dining set that he got for "a steal". Guess the country of origin.

I asked him why he didn't buy American and did he know that Trump's tariffs are going to make all his purchases more expensive.

I received a mostly vacant angry glare.

 

[Jhhnn]

If the retail price of Chinese goods goes up then their competitors will raise prices in their wake, just not as much. Because demand will go up.

It's nothing personal. Just business.

 

[darkswordsman17]

One of the MAGA hats I regularly interact with today proudly showed me pics of his new dining set that he got for "a steal". Guess the country of origin.

I asked him why he didn't buy American and did he know that Trump's tariffs are going to make all his purchases more expensive.

I received a mostly vacant angry glare.

So he just looked at you like he normally looks at everything then?

 

[darkswordsman17]

I thought more taxes were good (CNN and MSBNC said so). Why all the hate from the left all of a sudden?

Spoken like a true dumbshit. (The reasons why pointed out by fskimospy in post #23).

 

[Jhhnn]

You're conflating three separate issues. One is who is taxed. Two is how much our society is taxed. Three is where those taxes are going to.

Right now the taxes from the tariffs are being paid by the poors and are going to offset tax breaks for the 0.1% from the most recent tax bill. This is redistribution of wealth from the poors to the rich.

How are you not upset by it?

Fuck them Poors! If God didn't intend them to be fucked he woulda made 'em Rich!

 

[s0me0nesmind1]

You're conflating three separate issues. One is who is taxed. Two is how much our society is taxed. Three is where those taxes are going to.

Right now the taxes from the tariffs are being paid by the poors and are going to offset tax breaks for the 0.1% from the most recent tax bill. This is redistribution of wealth from the poors to the rich.

How are you not upset by it?

So you honestly (truthfully... seriously)... believe that if you tax Z it will affect consumers, but if you tax X or Y that it won't affect consumers?

I've got a bridge to sell you morons.

 

[Svnla]

NYT, commie china is between a rock and a hard place - https://www.msn.com/en-us/money/mar...ions-are-dwindling/ar-BBNuuPQ?ocid=spartandhp

 

[Jhhnn]

So you honestly (truthfully... seriously)... believe that if you tax Z it will affect consumers, but if you tax X or Y that it won't affect consumers?

I've got a bridge to sell you morons.

Explain how taxing ultra high incomes affects consumers. It's not like the price of Chinese consumer goods matters in their lives at all.

 

[s0me0nesmind1]

Explain how taxing ultra high incomes affects consumers. It's not like the price of Chinese consumer goods matters in their lives at all.

So taxing the PRODUCT of a corporation YOU retards acknowledged they WILL pass the costs to the customer.

BUT if they tax the CORPORATION that PRODUCES the PRODUCT OR the major stakeholders (CEO, CFO, etc..) they WON'T? How fucking dumb are you people? It's the same shit on the same balance sheet allocated to different accounts you fucking buffoons.

 

[s0me0nesmind1]

NYT, commie china is between a rock and a hard place - https://www.msn.com/en-us/money/mar...ions-are-dwindling/ar-BBNuuPQ?ocid=spartandhp

I truthfully don't think this is as one-sided as most leftys here stupidly thinks.

Morons here think China honestly has the uperhand - no thanks to globally biased media companies. Meanwhile the truth is that China's stock market and currency value continues to fall day after day, month after month - US continues to climb - yet the only rhetoric OP can cite is that the magical tax reform is the entire reason that for the last 2 months our market consistently climbs. Sorry - that bullshit excuse isn't going to work long term.

The stock market holds no bias - if they detect that sales will crumble they will NO DOUBT reflect that in their price. There is ABSOLUTELY no doubt about that. Regardless of paying less in taxes, if a company is not able to sustain sales their stock prices will plummet - guaranteed.

 

[Jhhnn]

So taxing the PRODUCT of a corporation YOU retards acknowledged they WILL pass the costs to the customer.

BUT if they tax the CORPORATION that PRODUCES the PRODUCT OR the major stakeholders (CEO, CFO, etc..) they WON'T? How fucking dumb are you people? It's the same shit on the same balance sheet allocated to different accounts you fucking buffoons.

Federal income taxes don't pass through like that.

 

[cytg111]

So taxing the PRODUCT of a corporation YOU retards acknowledged they WILL pass the costs to the customer.

BUT if they tax the CORPORATION that PRODUCES the PRODUCT OR the major stakeholders (CEO, CFO, etc..) they WON'T? How fucking dumb are you people? It's the same shit on the same balance sheet allocated to different accounts you fucking buffoons.

By that logic the last tax reform should have lowered prices on a number of goods right? Or am I reading you wrong?

 

[fskimospy]

I truthfully don't think this is as one-sided as most leftys here stupidly thinks.

Morons here think China honestly has the uperhand - no thanks to globally biased media companies. Meanwhile the truth is that China's stock market and currency value continues to fall day after day, month after month - US continues to climb - yet the only rhetoric OP can cite is that the magical tax reform is the entire reason that for the last 2 months our market consistently climbs. Sorry - that bullshit excuse isn't going to work long term.

The stock market holds no bias - if they detect that sales will crumble they will NO DOUBT reflect that in their price. There is ABSOLUTELY no doubt about that. Regardless of paying less in taxes, if a company is not able to sustain sales their stock prices will plummet - guaranteed.

China’s stock market is notoriously volatile and has had larger swings in recent years without any trade wars. Also, exposure by the population to the stock market in China is much smaller than in the US. In short, falling stocks aren’t new for them and aren’t going to make them capitulate. I think people in the US, Trump included, badly underestimate China’s willingness to keep this up basically indefinitely. I also think they badly overestimate the proportion of China’s GDP dependent on trade with the US.

If China can find a way to make symbolic concessions that don’t do much so Trump can declare victory they will do that. I personally doubt they will capitulate and make actual, significant concessions like Trump wants though. Even if they wanted to Trump has once again framed it as us making China our bitch, and that has awoken Chinese nationalism. Even if their government wanted to give in at this point they might not be able to.

I guess what I’m saying is if you’re waiting for China to submit to our demands you better pack a lunch.

 

[fleshconsumed]

So you honestly (truthfully... seriously)... believe that if you tax Z it will affect consumers, but if you tax X or Y that it won't affect consumers?

I've got a bridge to sell you morons.

Do you honestly believe that 0.1%'ers shop at walmart to be affected by new taxes? And do you honestly believe they'll notice the extra $100 in new taxes? Do you understand how percentages work? Why $100 is a much bigger deal to poors as opposed to rich? And how $100 in extra tax on the 299,700,000 is used to offset $99,900 extra income for the 300,000? Even if the 0.1% or the 300,000 pay the same tax, they are still going to have extra $99,800 left at the end of the day while the rest of us are $100 poorer.

Sounds like you bought the bridge already and you're just trying sell it to another sucker to cut your losses. Sorry, but you get to keep the bridge you got. You keep it as a badge of honor.

 

[fskimospy]

Do you honestly believe that 0.1%'ers shop at walmart to be affected by new taxes? And do you honestly believe they'll notice the extra $100 in new taxes? Do you understand how percentages work? Why $100 is a much bigger deal to poors as opposed to rich? And how $100 in extra tax on the 299,700,000 is used to offset $99,900 extra income for the 300,000? Even if the 0.1% or the 300,000 pay the same tax, they are still going to have extra $99,800 left at the end of the day while the rest of us are $100 poorer.

Sounds like you bought the bridge already and you're just trying sell it to another sucker to cut your losses. Sorry, but you get to keep the bridge you got. You keep it as a badge of honor.

What seems dumb to me about Trump's argument is that they are simultaneously saying that the price increases from the tariffs will be so small that people won't notice, but that the tariffs will be so big they will force China to capitulate. This is pants on head stupid. If the price increases aren't significant then they won't change buying behavior, therefore China won't care.

Trump's entire policy is exactly to tax American consumers enough that they stop buying foreign goods that are made more efficiently than we can make them here. That's literally the point.