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Started By
Message
re: Mark Levin on Tariffs
Posted on 7/25/18 at 10:43 am to RogerTheShrubber
Posted on 7/25/18 at 10:43 am to RogerTheShrubber
I would like to see how the resident posters reacted to Obamas tariffs. I can't remember off the top of my head but I'll bet roles were reversed
0
Posted on 7/25/18 at 10:44 am to RogerTheShrubber
quote:
Ole Beefy is making the argument that tax savings will be used to cover tariff losses
Now, that's not going to happen. But let's say it did happen, does he think that not being able to use the tax savings to expand capacity or efficiency is a good thing?
Use your head.
The tax savings are significantly more than any company's outlay to procure tariff'd goods.
If a company has a gross income of $1 billion, and their effective tax rate just went from 22% ($220 million) to 9% ($90 million), that's a difference of $130 million.
If their inventory needs from tariff'd countries is only $300 million (30% of their gross), and that $300 million now costs them $375 million (25% increase), there's still a difference in their net of +$55 million.
Pretty sure that's still a significant amount to use towards expansion, hiring more employees, improving efficiencies, or damn near anything.
You people are acting like these are dollar for dollar offsets and they're not. The tax savings and lower overhead costs are going to be significantly bigger than anything created by these tariffs, and they will be actualized as direct increases to their bottomline margins when compared to previous years... at least at the beginning.
You clowns crow about "economics, bitch", but you're being retards in applying that logic here.
If you had liabilities of $220 million last year, and this year you only have liabilities of $90 million, then this is directly applied to profit margins.
You're an imbecile if you suggest they're not.
Posted on 7/25/18 at 10:47 am to BeefDawg
quote:
The tax savings are significantly more than any company's outlay to procure tariff'd goods.
You're totally ignoring opportunity costs.
Posted on 7/25/18 at 10:47 am to GoCrazyAuburn
quote:
So how do you propose we solve tariff discrepancies?
Let’s increase other taxes too to solve tax discrepancies.
Posted on 7/25/18 at 10:48 am to BeefDawg
quote:
Use your head.
The only head you’ve used since 2016 is Trump’s. Anyone who can actually think knows why this is a horrible idea.
Posted on 7/25/18 at 10:49 am to CorporateTiger
quote:
Let’s increase other taxes too to solve tax discrepancies.
So, you don't have an answer? I wasn't being an arse. There has been thread after thread of people bitching about Trump's plan.
Great. What do you propose instead?
Posted on 7/25/18 at 10:51 am to I B Freeman
quote:
Who Has the World's No. 1 Economy? Not the US
Downvotes for more facts I am sure.
This is hilarious.
The guy adamantly arguing against tariffs shows us how China now has a better economy than ours.
China, the country with the most and highest tariffs, that steals our intellectual property, and undercuts our goods pricing by paying their citizens slave wages.
A country using tariffs to better their economy is your way of arguing we are stupid for using tariffs?
Just LOL.
Posted on 7/25/18 at 10:51 am to GoCrazyAuburn
If other countries want to implement bad economic policies why does it need to be fixed?
Posted on 7/25/18 at 10:52 am to RogerTheShrubber
quote:
The tax savings are significantly more than any company's outlay to procure tariff'd goods.
You're totally ignoring opportunity costs.
He is totally full of shite.
Taxes fall only on net profits. The tariffs on gross. If a company has $1 million less net profits because of tariffs it will only save them 20% of that in taxes as the C rate is about 20%. Their net tariff impact would be a loss of $800,000.
This post was edited on 7/25/18 at 10:54 am
Posted on 7/25/18 at 10:56 am to I B Freeman
quote:
Taxes fall only on net profits.
Yeah I don't think he understands this. You can't argue with irrationality
Posted on 7/25/18 at 10:56 am to BeefDawg
quote:
The guy adamantly arguing against tariffs shows us how China now has a better economy than ours.
So what if it is a bigger economy---not better BTW---bigger. They have 4 times the population this is to be expected.
Their economy is bigger and tariff proponents should at least take heed when espousing the idea that the Chinese will have to roll over for Trump's tariffs.
But we have already seen most of ones here lack any critical thinking skills.
Posted on 7/25/18 at 10:58 am to Deuces
quote:
If countering with them is the only way to balance the discrepancy out and give us fair trade, I support it. We had a $517 billion imbalance with China last year.
The USA is the richest country in the history of the world. The USA has massive employment regulations (osha, health care, workers comp) that will never allow us to be on the same, level playing field as the third world countries paying less than poverty wages in comparison.
To think that we will not have a negative trade balance is insane. We have more money, therefore we spend more money. We simply cannot compete with the China's, India's and Malaysia's of the world on cost of labor.
Trade imbalance is not a bad thing. I am anti-tariff but the Trump tariffs are not about the tariff alone but instead a mechanism to change behavior of some.
This post was edited on 7/25/18 at 10:59 am
Posted on 7/25/18 at 10:58 am to CorporateTiger
quote:
If other countries want to implement bad economic policies why does it need to be fixed?
So, just so I'm clear, you'd be fine with us having no tariffs on any foreign goods, but every other country having high tariffs on our goods? In your opinion, that is good for our country?
Posted on 7/25/18 at 11:01 am to CorporateTiger
quote:
If other countries want to implement bad economic policies why does it need to be fixed?
What part of us averaging 1.8% GDP growth the previous 8 years under Obama do you not understand?
What part of US companies fleeing the US to countries with lower tax rates, less regulations, and cheap labor do you not understand?
We manufacture and produce around 98% of the goods we consume. But we export 40% of those goods and then turn right around and import those same 40% of goods right back.
And, those numbers were increasing. We were on a path to exporting more and importing more.
Do you know what it means to our GDP when we produce less at home, and then sell and buy more abroad?
It's a recipe for disaster. A slow agonizing death if you let it continue.
Posted on 7/25/18 at 11:02 am to GoCrazyAuburn
quote:
but every other country having high tariffs on our goods? In your opinion, that is good for our country?
Buying cheap foreign components is actually good for both American mags and consumers.
Many items we build here have Chinese components.
Posted on 7/25/18 at 11:02 am to BeefDawg
quote:
What part of us averaging 1.8% GDP growth the previous 8 years under Obama do you not understand?
Oh so that was definitely because of tariffs and not anything else.
quote:
What part of US companies fleeing the US to countries with lower tax rates, less regulations, and cheap labor do you not understand?
I agree with this problem. It’s why I’m for eliminating corporate income tax entirely. But that’s a separate conversation.
You are concerned about higher taxes but want more tariffs??? What?
This post was edited on 7/25/18 at 11:05 am
Posted on 7/25/18 at 11:05 am to RogerTheShrubber
quote:
Buying cheap foreign components is actually good for both American mags and consumers.
Many items we build here have Chinese components.
You haven't answered the question. You've answered why it is good for us to have low tariffs, I don't disagree.
Answer the question I asked. Is it good for the US if every other country has significantly higher tariffs on our goods than we have on theirs?
Posted on 7/25/18 at 11:07 am to CorporateTiger
quote:
Let’s increase other taxes too to solve tax discrepancies.
So no alternative tactics?
Thought so.
Posted on 7/25/18 at 11:07 am to GoCrazyAuburn
quote:
Is it good for the US if every other country has significantly higher tariffs on our goods than we have on theirs?
Crickets.
Posted on 7/25/18 at 11:12 am to GoCrazyAuburn
quote:
Is it good for the US if every other country has significantly higher tariffs on our goods than we have on theirs?
I suppose that would depend on the actual tariff but tentively I say yes if the alternative is putting tariffs on imports.
Tariffs are punishing your people for whatever someone else is doing.
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