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Started By
Message
re: If Tariffs Are Put in Place People Won't Be Able to Afford Cars
Posted on 11/9/24 at 6:28 am to PurpleandGold Motown
Posted on 11/9/24 at 6:28 am to PurpleandGold Motown
quote:
1970: Less than 36% of a family's annual income was needed to buy a new car
1970 -the EPA was founded
quote:
1994: 48% of household income was needed to buy a new car
in 1994 the EPA started rolling out the Clean Air Act Amendments of 1990 Tier I standard
quote:
2022: The average total cost of buying a car was $55,821, which includes financing, taxes, and fees
In the mid 2010s the EPA adopted ridiculous California based fuel economy and greenhouse gas standard as a national standard by the 2016 model year[9] and collaborated with Californian regulators on stricter national emissions standards for model years 2017–2025.[10]
so. while I still don't really understand how tariffs work I do understand that manufacturers will pass the cost of 1 nanometer of CO2/50 miles, kill switches, minimum of 35 mpg, and only EVs by whenever... to us.
IE.. get rid of the EPA and car prices drop 20k overnight.
Posted on 11/9/24 at 6:31 am to tgerb8
quote:
In the mid 2010s the EPA adopted ridiculous California based fuel economy and greenhouse gas standard as a national standard by the 2016 model year[9] and collaborated with Californian regulators on stricter national emissions standards for model years 2017–2025.[10]
so. while I still don't really understand how tariffs work I do understand that manufacturers will pass the cost of 1 nanometer of CO2/50 miles, kill switches, minimum of 35 mpg, and only EVs by whenever... to us.
IE.. get rid of the EPA and car prices drop 20k overnight.
Very true here. Tradeoff being what does that do to our air quality here? Would hate to end up like Beijing where athletes need to bring oxygen with them to breathe normally.
There's a ton of safety measures enforced on automobile industry plus the price of recalls when there's a safety issue as well. That's definitely contributing to cost rising.
Posted on 11/9/24 at 6:33 am to oklahogjr
quote:
Very true here. Tradeoff being what does that do to our air quality here? Would hate to end up like Beijing where athletes need to bring oxygen with them to breathe normally.
Posted on 11/9/24 at 6:43 am to oklahogjr
quote:
Tradeoff being what does that do to our air quality here?
Honestly.... it would probably get better. The government breaks everything they touch. I understand the intent but... just like every other agency that started out with a noble purpose... the lobbyists got involved and the noble purpose suddenly became money at the expense of the American people.
The FDA screwed up food. The CDC screwed up health and disease responses. The department of education screwed up education. and on and on.
Posted on 11/9/24 at 6:44 am to oklahogjr
quote:
So basically still no sources or details on your side.
quote:
How the 'Experts' Got Tariffs So Wrong—and Trump Got It Right
Trump has a new idea about the economy. The usual suspects hate it.
Everyone who follows politics knows what that idea is, because the media and people like Larry Summers have not stopped commenting about how awful it is. On June 13, Trump said he'd consider a 10 percent tariff on imports and use the revenue to reduce some income taxes.
Sixteen Nobel economists said in a letter recently that his policies would lead to higher inflation. Joseph Stiglitz signed that letter. He was critical of Trump's China tariffs in 2018, when he wrote, "Public support will wane as Americans realize that they lose doubly from this (trade) war. Jobs will disappear."
Wrong.
...
Soy exports broke records two years later. Whiskey, Harley and OJ tariffs to Europe and the U.K. were suspended because the E.U. and U.K. agreed to steel export volume limits to the United States. Without the original tariffs as leverage, none of this would have happened. Now the U.S. steel and aluminum industry can grow (as they are) without being inundated with imports.
...
We modeled Trump's 10 percent universal tariff, and found that the tariff change would increase economic growth and create opportunity for Americans through increasing incomes and job creation. Under the proposal, real household incomes would increase by nearly $8,000 and 3.3 million new jobs would be created. Real GDP would grow by 3.6 percent. New federal tax revenue of $460.3 billion a year would be generated by the tariff and policymakers would have the opportunity to use that money to reduce income taxes or invest in the economy.
No serious person believes record inflation during the Covid-years was due to tariffs. If so, how do you explain inflation falling even as Biden extended Trump's tariffs and added new ones in May?
quote:
Trump’s Planned Tariffs Could Be 'A Good Thing' For Manufacturing
The incoming Donald Trump administration putting a 20% tariff on all products imported into the country could end up being a driver of more manufacturing in Dallas-Fort Worth, supercharging a trend of foreign companies looking for plant space in the Metroplex, according to industrial brokers.
...
Laredo, Texas, became ground zero of the nearshoring boom in the wake of the pandemic. Dallas has picked up an outsized piece of that in the years that followed.
...
“There's going to be great opportunities here, not just the next four years but the next 10 to 20 years,” Modory said. “We'll continue to be the place capital is going to want to come to [and where] companies are going to want to come to.”
That kind of nearshoring and reshoring of manufacturing is something Ronald Rohde Law President Ron Rohde said DFW is likely to see more of due to Tuesday’s election results — and that could have an impact on the state's fragile power grid.
(cont next post)
Posted on 11/9/24 at 6:44 am to NC_Tigah
quote:
LINK ]Why Trump Is Right About Tariffs
Taxing imported goods is unpopular with economists, but it could help the U.S. lower the trade deficit, strengthen its industrial base and safeguard national security.
Economists have reacted poorly to Donald Trump’s recent proposal for a 10% tariff on all imports. Adam Posen, president of the Peterson Institute for International Economics, called it “lunacy” and “horrifying.” According to Michael Strain, director of economic policy studies at the American Enterprise Institute, it would be “a disaster for the U.S. economy.”
But why? After all, tax revenue is necessary to provide public services, and tariffs have long proved an effective way to collect it.
...
Making things also matters because the industrial economy provides an invaluable foundation for thriving local economies nationwide. While the U.S. economy now consists predominantly of services, a community cannot thrive on cutting hair, serving fast food and delivering packages alone. Undergirding the service sector there must be an industrial sector where people can create tradeable products, sent to the outside world for the many things the community needs and does not make itself. Industrial activity also tends to have a much higher “multiplier effect,” rippling outward into greater local employment and investment.
And making things matters to national security. As Adam Smith acknowledged, it is “advantageous to lay some burden upon foreign, for the encouragement of domestic industry…when a particular industry is necessary for the defence of the country.” In the 1700s, the principle seemed narrow, applying for instance to sailcloth and gunpowder.
But in a modern industrial economy, fielding a technologically sophisticated military and protecting the home front in times of crisis requires not only building and repairing billion-dollar warships but also the fabrication of advanced semiconductors, processing of rare earth elements and synthesis of pharmaceutical precursors. Each of these relies on its own complex supply chains, skilled workforce and long-term capital investments.
...
America’s cumulative trade debt of $15 trillion and counting will hamstring future generations as surely as the federal government’s fiscal debt. As Warren Buffett put it in 2003, “Our country has been behaving like an extraordinarily rich family that possesses an immense farm…We have, day by day, been both selling pieces of the farm and increasing the mortgage on what we still own.” His solution was a system of “import certificates” to discourage imports and promote exports—or, in his words, “a tariff called by another name.”
The persistent and ballooning U.S. trade deficit stands as a stark empirical refutation of the economic orthodoxy on free trade. Friedrich Hayek cited “how some necessary balance…between exports and imports, or the like, will be brought about without deliberate control” as a prime example of “the self-regulating forces of the market.” Paul Krugman listed the insight that “trade deficits are self-correcting” among “the essential things to teach students.” The school of thought that dismisses the case for tariffs is also a school that dismisses the possibility of the world in which we live.
...
Skeptics rightly warn that other countries may retaliate with tariffs of their own. Certainly, a world with higher tariffs and lower but more balanced trade is by no means ideal. Reversing the damage wrought by globalization will create winners and losers, just as globalization did.
But the U.S., with its enormous trade deficit and reeling industrial base, has much more to gain than to lose in the process. Not until other nations conclude that the era of exploiting American passivity has ended can prospects improve for an international system in which all sides work to expand mutually beneficial trade.
The theories that claim to refute this strategy only beg the question. They begin from the assumption that persistent trade deficits and industrial decline are costless and conclude, unsurprisingly, that a tariff does no good. This perpetuates the “presumptuous error” for which John Maynard Keynes condemned economists nearly a century ago, of regarding “the balance of trade…as a puerile obsession, [when it] for centuries has been a prime object of practical statecraft.”
U.S. policy makers—and citizens—should insist on a wider discussion about the full costs of unbalanced trade. If making things does matter, American trade policy should reflect it.
Posted on 11/9/24 at 6:46 am to Sevensblue
quote:
If you’re a true patriot then you should relish the chance to pay extra for goods made in the beloved USA.
I 100% am willing to pay more for USA made products
Posted on 11/9/24 at 6:48 am to PurpleandGold Motown
The media is lying to us about tariffs. Trump used tariffs in his first term and inflation remained low and the cost of goods stabilized.
Posted on 11/9/24 at 6:52 am to RogerTheShrubber
quote:Relative to what? Corporate tax increases? Gargantuan deficits? Debt at 150% GDP?
It's inflationary
What are the long term costs of a massive trade deficit, in and of itself?
Posted on 11/9/24 at 6:53 am to PurpleandGold Motown
Tariffs have to go hand and hand with massive tax relief. That is why I am happy to hear about tariffs
Posted on 11/9/24 at 6:54 am to PurpleandGold Motown
quote:
Essential goods and materials (medicines, conductors, chips, steel, etc) should be made here. Buy all the tennis shoes, toys, wine and cheese you want elsewhere. But essential things need to be made here.
This is round 2 for Trump. I was really hoping in his first term to strike some trade deals for Central and South American countries to take on making some semi essential goods. Basically anything that a US company is making in China should be made in the hemisphere. Bolster the economy closer to us and maybe we don't see so many people trying to get in this country.
Posted on 11/9/24 at 6:55 am to Stealth Matrix
quote:
Oh, no! We won't be able to fill our landfills with cheap Chinese crap, and we're forced to become more thrifty. The horror.
You’re right I’m looking at it cup half empty. We get to learn to be more thrifty like mee maw. And Biden making food more expensive put us all on diets. All a matter of perspective
Posted on 11/9/24 at 6:56 am to PurpleandGold Motown
How does that twenty dollar an hour minimum wage taste? Why is this ignored so much by just about everyone?
Posted on 11/9/24 at 6:57 am to NC_Tigah
quote:
Relative to what?
Just what I said. Its inflationary. Domestic producers will raise prices as well.
Tariffs are subsidies to domestic producers paid by the consumer with revenue going to the govt. Its as dumb as it sounds in the modern day.
When these subsides are gone, so are domestic mfgs.
Posted on 11/9/24 at 6:57 am to jrodLSUke
quote:Indeed.
The media is lying to us about tariffs. Trump used tariffs in his first term and inflation remained low and the cost of goods stabilized.
If Trump said cigarettes are bad for your health, the PPP media would howl about how wrong he was. The conniptions about tariffs make no sense relative to screeches from the same corners for other taxes to rise.
Posted on 11/9/24 at 6:57 am to scottydoesntknow
quote:
I 100% am willing to pay more for USA made products
You can do that now; we all can and you can do it without a government mandate.
But you don't.
Posted on 11/9/24 at 6:58 am to tgerb8
quote:
Honestly.... it would probably get better. The government breaks everything they touch. I understand the intent but... just like every other agency that started out with a noble purpose... the lobbyists got involved and the noble purpose suddenly became money at the expense of the American people.
The FDA screwed up food. The CDC screwed up health and disease responses. The department of education screwed up education. and on and on.
I would say none of them are perfect for sure and all have plenty of room for fat trimming. But FDA as an example was created for a reason and a good purpose. We don't want to lose that just because we're too bloated. I would love to see us go back to the core functions of these agencies and reduce the extra functions though as a way to cut costs.
Posted on 11/9/24 at 6:58 am to PurpleandGold Motown
If the income tax is abolished, I can afford a lot more. And I’ll buy an American.
Tariffs level the playing field for American workers competing with Slave labor wages.
Don’t listen to neocon idiots. Globalist corporations benefiting from foreign low wages are twisting the story
Tariffs level the playing field for American workers competing with Slave labor wages.
Don’t listen to neocon idiots. Globalist corporations benefiting from foreign low wages are twisting the story
Posted on 11/9/24 at 6:58 am to tgerb8
The second thing Trump has to do .....
Take all regulations back to 2020.
Then find out where the Democrats screwed everyone and spent billions on 7 charging stations.
Sort of like Kamala spending millions on six concerts .....Attach Democrat to find the answer.
Take all regulations back to 2020.
Then find out where the Democrats screwed everyone and spent billions on 7 charging stations.
Sort of like Kamala spending millions on six concerts .....Attach Democrat to find the answer.
Posted on 11/9/24 at 7:00 am to NC_Tigah
quote:
The media is lying to us about tariffs. Trump used tariffs in his first term and inflation remained low and the cost of goods stabilized.
Indeed.
This is what makes Roger and Oklahigjr look so stupid
Yet they can never break down a number to how much more we will pay
Some Yahoo journo just threw 3k a year out which is 8 a day
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