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Started By
Message
re: A Yahoo Finance flash story popped up with columnist saying Trump’s tariffs would be worse
Posted on 9/18/24 at 9:14 am to RogerTheShrubber
Posted on 9/18/24 at 9:14 am to RogerTheShrubber
quote:
tariffs are inflationary.
I dont understand why thats so hard for some here.
How was inflation at the end of Trumps term?
2
Posted on 9/18/24 at 9:18 am to TenWheelsForJesus
If inflation was global warming, tariffs would be cow farts while increasing domestic money supply would be heightened solar activity.
Posted on 9/18/24 at 9:18 am to GumboPot
quote:
I wish you would fight against income taxes as hard as you fight against tariffs.
Nothing I have posted supports income taxes.
Tariffs cannot replace income taxes on any meaningful level. We spend too much.
I'm one of the few "we need to reign in spending" guys left on this board, the same with being one of the few remaining capitalists on this board.
You have a history of shielding criticism of Trump and his big spending policies, in fact. You were doing it just yesterday if I recall correctly.
Can't fix the income tax issue until politicians start working on the spending issues.
Posted on 9/18/24 at 9:18 am to mikeytig
quote:
How was inflation at the end of Trumps term?
Inflation lags.
The economy crashed in 2020. The genesis for massive inflation was already occurring.
Posted on 9/18/24 at 9:19 am to mikeytig
quote:
How was inflation at the end of Trumps term?
Inflation lags.
We may not even be feeling Biden's inflation yet.
Posted on 9/18/24 at 9:25 am to SlowFlowPro
The U.S. collected 4,900 billion (4.9 trillion) in tax revenue in 2023.
Tariff revenue was about 100 billion or 2% of the total.
Just think how much corporations could lower their prices if the government cut income taxes by 10%. Theoretically that would be approximately $245 billion that could be removed from the prices of all goods.
Let's deal with this after Trump is elected so we can increase our chances of reigning in spending. Focus on the task at hand for the greater goal.
Tariff revenue was about 100 billion or 2% of the total.
Just think how much corporations could lower their prices if the government cut income taxes by 10%. Theoretically that would be approximately $245 billion that could be removed from the prices of all goods.
quote:
You have a history of shielding criticism of Trump and his big spending policies, in fact. You were doing it just yesterday if I recall correctly.
Can't fix the income tax issue until politicians start working on the spending issues.
Let's deal with this after Trump is elected so we can increase our chances of reigning in spending. Focus on the task at hand for the greater goal.
Posted on 9/18/24 at 9:34 am to SlowFlowPro
quote:
Inflation lags.
We may not even be feeling Biden's inflation yet.
:lol: Whatever you lefties make you feel good about yourselves have at it.
Posted on 9/18/24 at 9:36 am to GumboPot
quote:
Just think how much corporations could lower their prices if the government cut income taxes by 10%. Theoretically that would be approximately $245 billion that could be removed from the prices of all goods.
If the same money is just being redirected to a different tax, how is the net going to be beneficial to consumers?
Funding the same amount of spending will require removing the same amount from the economy.
So corporations will "lower prices"....from the inflated tariff level, which brings them back to baseline.
quote:
Let's deal with this after Trump is elected
Will we see any balanced budgets/surpluses under Trump's next admin?
quote:
so we can increase our chances of reigning in spending.
Why would you ever think a Trump admin would reign in spending?
SDV has this correct and is one of the few MAGA guys who admits this is a bullshite talking point. Trump is a big spender and is in no way a fiscal conservative.
Posted on 9/18/24 at 9:39 am to Indefatigable
quote:
There is no honest way to describe tariffs as anything other than inflationary. Tariffs are a tax that will raise costs on the US consumer.
They make no economic sense when applied to goods that we do not produce domestically.
Second post nails it.
Posted on 9/18/24 at 9:40 am to SlowFlowPro
quote:
Will we see any balanced budgets/surpluses under Trump's next admin?
Why would you expect this when Congress has a banking system's monetary Ponzi scheme to support?
Posted on 9/18/24 at 9:40 am to SlowFlowPro
quote:
Why would you ever think a Trump admin would reign in spending?
He does reign in spending. He does not rein in spending.
Posted on 9/18/24 at 9:41 am to Flats
quote:
He does reign in spending. He does not rein in spending.
Thank you
Posted on 9/18/24 at 9:41 am to SlowFlowPro
Okay, that's funny.
Posted on 9/18/24 at 9:41 am to GumboPot
quote:
Why would you expect this when Congress has a banking system's monetary Ponzi scheme to support?
quote:
You have a history of shielding criticism of Trump and his big spending policies, in fact. You were doing it just yesterday if I recall correctly.
Can now change "you were doing it just yesterday" to "you just did it again"
Posted on 9/18/24 at 9:46 am to SlowFlowPro
quote:
Can now change "you were doing it just yesterday" to "you just did it again"
Because reining in spending is a tired pointless talking point. Until you rescind the Federal Reserve Act of 1913 and congress places monetary policy back in the hands of the Executive branch's Treasury Department, over spending will never end because apparently we cannot hold them accountable via our elected leaders. You are fighting a losing battle because the war against spending is already lost in the current framework.
Posted on 9/18/24 at 9:49 am to Indefatigable
Sorry bud, tariffs work!
Posted on 9/18/24 at 10:05 am to GumboPot
quote:
Because reining in spending is a tired pointless talking point.
But it won't be in the future?
quote:
Let's deal with this after Trump is elected so we can increase our chances of reigning in spending.
Posted on 9/18/24 at 10:06 am to GumboPot
quote:
Until you rescind the Federal Reserve Act of 1913 and congress places monetary policy back in the hands of the Executive branch's Treasury Department, over spending will never end because apparently we cannot hold them accountable via our elected leaders.
this is wrong.
The President and Congress can cut spending without changing the nature of the Fed.
Posted on 9/18/24 at 10:12 am to Flats
quote:
But it won't be in the future?
Yeah, it's a 99.9% chance that it will be a pointless and useless exercise but at least it might be entertaining.
Posted on 9/18/24 at 10:13 am to SlowFlowPro
quote:
The President and Congress can cut spending without changing the nature of the Fed.
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