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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 7:01 am to Flats
Posted on 11/9/24 at 7:01 am to Flats
quote:
You can do that now; we all can and you can do it without a government mandate.
Absolutely, and this has been my point for a while.
These folks are no different than progressives, wanting the govt to force them to "do the right thing."
They've had a lifetime to do it and they cannot make it happen. Their homes are full of chinese stuff.
0
Posted on 11/9/24 at 7:03 am to oklahogjr
quote:
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.
Having a nanny state is expensive, yes.
We are a becoming a nanny state, and already are to half the population.
People cant make good choices for themselves and want the govt to force them to make good choices..
Posted on 11/9/24 at 7:12 am to DavidTheGnome
quote:
And to withstand inevitable trade wars which will gut domestic export markets. Or hope you’re not in retail and demand evaporates because everything vastly went up in price. But that’s just details
Well coming out of WW2 we had half the worlds GDP, half, now its less than 25% because we followed the aforementioned thought process. Hmmm maybe its time to go back to what made America great, just a thought
Posted on 11/9/24 at 7:12 am to oklahogjr
Trump did tariffs in his first term and we didn’t have inflation
Posted on 11/9/24 at 7:14 am to PurpleandGold Motown
So the taxes you save from tariff imposition can not be used to help pay for the car. You have a spending problem, don't you?
Posted on 11/9/24 at 7:18 am to PurpleandGold Motown
quote:
If Tariffs Are Put in Place People Won't Be Able to Afford Cars
Will not affect American Made Cars
The idea is to stop companies from going right across the border so they can use cheap labor and avoid taxes.
You either pay taxes or a tariff.
Posted on 11/9/24 at 7:22 am to The Torch
quote:
Will not affect American Made Cars
It will. American producers will raise prices as the cost of foreign cars increases. American producers also have components made abroad that will cost more.
Everyone will pay more, and mfg jobs are not coming back. This is a pipe dream based on archaic world conditions that no longer exist.
Posted on 11/9/24 at 7:22 am to oklahogjr
quote:
What do you mean not direct pass through? Who is paying the tarrifs? Purchasers of good right?
Fallacy 1: Tariffs are just a tax on consumers
Ive imported and exported good to dozens of countries for over two decades, the largest portion of the tariff is eaten by the manufacturer and the importer.
Its called supply and demand along with price elasticity.
Fallacy 2: Trade deficits arent harmful its just a balance sheet issue, cash for goods, it balances.
The problem is, we buy goods and give them cash.....which they then buy the US companies who are making the goods and in the end we have sold our soul.
Posted on 11/9/24 at 7:25 am to RogerTheShrubber
quote:It's inflationary in isolation or in actual application? Again, tariffs are a revenue source. Are tariffs inflationary relative to deficit spending, or debt levels threatening fiscal dominance?
Just what I said. Its inflationary.
Friedman held that printing money is the sole path to inflation. Arguably supply-demand interfaces can and do impact inflation differentially aside from money printing. The caveat being, supply-demand elements such as pricing, perception and purchase propensity would drive down consumptive demand for tariff laden goods. So a simple elevation of price d/t tariff in one categorical subset doesn't actually necessitate inflation.
For example, if hypothetical tariffs were assigned to Dollar Tree, Family Dollar, and Dollar General, their consumers might buy less, or they might shift to Walmart/Target. Neither of which is innately inflationary.
Posted on 11/9/24 at 7:29 am to oklahogjr
quote:
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.
right. I agree that it was created for a good purpose. but eventually you got the heart doctors on board to promote less saturated fat so that the lobbyists could get rich off of trans fat. the tartrazine was put into all kinds of foods because the lobbyists presented lax data and MONEY. The DHA.. DHT.. All the stuff RFK warned about came about the same way. now everything is poison. I just don't know how you return to "core functions." there should be some sort of fiscal government watch dog agency but it would just get paid off too.
Posted on 11/9/24 at 7:30 am to Timeoday
quote:
So the taxes you save from tariff imposition
Bruh
Posted on 11/9/24 at 7:31 am to DavidTheGnome
How much more do we paybin taxes cause of the evil tarrifs?
Posted on 11/9/24 at 7:33 am to NC_Tigah
quote:
Friedman held that printing money is the sole path to inflation.
Or price shocks, such as widespread tariffs. Friedmans assertion was that producers only spend so much, so while some rise, others would fall.
With widespread tariffs, you get price shocks which does cause inflation and act as as an indirect subsidy to producers. Prices will rise.
Posted on 11/9/24 at 7:34 am to oklahogjr
quote:Fascinating that folks cannot engage a discussion outside of the insertion of agenda-driven experts, btw.
So basically still no sources or details on your side.... Knowing your doctorate isn't in economics I think I'll stick with economists....
quote:Which of those facts do you take issue with?
But again, why the spastic conniptions about tariffs?
Even assuming everything Brookings asserts is factually correct (as ridiculous as that would be), we are running prohibitive deficits atop massive debt.
Does that register?
Revenues have to come from somewhere to address our debt and deficit.
Does that register?
Sacrifices and cuts have to come from somewhere to address our debt and deficit.
Does that register?
Democrats (with whom Brookings is allied) proposed a 33% corporate tax increase as tariff alternative.
In fact, there is no anti-Tariff, rational justification for alternate US corporate tax increases. None.
Posted on 11/9/24 at 7:34 am to RogerTheShrubber
What price shocks did we see under the evil Trump tarrifs?
Posted on 11/9/24 at 7:35 am to PurpleandGold Motown
quote:Same. I babied that car.
My favorite car I ever owned was a 240SX
Posted on 11/9/24 at 7:37 am to PurpleandGold Motown
Two wrongs don't make a right. Tariffs are not ideal if we still have to pay income tax.
Posted on 11/9/24 at 7:38 am to RogerTheShrubber
quote:The alternative is increased CORPORATE TAX and/or INCOME TAX. Compare the "price shock" with tariffs in those instances, if you don't mind
With widespread tariffs
Posted on 11/9/24 at 7:40 am to SDVTiger
quote:
What price shocks did we see under the evil Trump tarrifs?
Here is some reading for you. It doesnt have pictures so you may need help.
quote:
The Trump administration imposed nearly $80 billion worth of new taxes on Americans by levying tariffs on thousands of products valued at approximately $380 billion in 2018 and 2019, amounting to one of the largest tax increases in decades.
The Biden administration has kept most of the Trump administration tariffs in place, and in May 2024, announced tariff hikes on an additional $18 billion of Chinese goods, including semiconductors and electric vehicles, for an additional tax increase of $3.6 billion.
We estimate the Trump-Biden tariffs will reduce long-run GDP by 0.2 percent, the capital stock by 0.1 percent, and employment by 142,000 full-time equivalent jobs.
Altogether, the trade war policies currently in place add up to $79 billion in tariffs based on trade levels at the time of tariff implementation and excluding behavioral and dynamic effects.
Before accounting for behavioral effects, the $79 billion in higher tariffs amounts to an average annual tax increase on US households of $625. Based on actual revenue collections data, trade war tariffs have directly increased tax collections by $200 to $300 annually per US household, on average. Both estimates understate the cost to US households because they do not factor in the lost output, lower incomes, and loss in consumer choice the tariffs have caused.
Candidate Trump has proposed significant tariff hikes as part of his presidential campaign; we estimate that if imposed, his proposed tariff increases would hike taxes by another $524 billion annually and shrink GDP by at least 0.8 percent, the capital stock by 0.7 percent, and employment by 684,000 full-time equivalent jobs. Our estimates do not capture the effects of retaliation, nor the additional harms that would stem from starting a global trade war.
Academic and governmental studies find the Trump-Biden tariffs have raised prices and reduced output and employment, producing a net negative impact on the US economy.
Joe Biden kept Trumps tariffs, pretty much all you need to know. Tariffs are a political move which will solve zero real world problems.
MAGA is too fixated on intermediate steps and has lost sight of what they actually want to accomplish.
Posted on 11/9/24 at 7:41 am to NC_Tigah
quote:
The alternative is increased CORPORATE TAX and/or INCOME TAX.
So youre saying you like tariffs as a tax on consumers.
Jesus, what happened to conservatism. You know, some of us saw this building, so much debt that taxes would end up being raised and tried to warn MAGA.
This post was edited on 11/9/24 at 7:42 am
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