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Tariffs are bad

Posted on 4/17/24 at 12:21 pm
Posted by wheelr
Member since Jul 2012
5147 posts
Posted on 4/17/24 at 12:21 pm
Or at least they were. Maybe they are good now? It is very confusing.

Posted by SDVTiger
Cabo San Lucas
Member since Nov 2011
73396 posts
Posted on 4/17/24 at 12:25 pm to
Rogerthecucker will now say tariffs good
Posted by wheelr
Member since Jul 2012
5147 posts
Posted on 4/17/24 at 12:30 pm to
Yeah I don't even pay close attention this board but remember quite a few were very outspoken against them. I know that IBsomething guy will be very upset.
Posted by jrodLSUke
Premium
Member since Jan 2011
22097 posts
Posted on 4/17/24 at 12:30 pm to
IBChinaman: Trump tariffs bad. Same Biden tariffs good.
Posted by td1
Baton Rouge
Member since Oct 2015
2830 posts
Posted on 4/17/24 at 12:30 pm to
Tariffs are bad for the consumer

Make the govt feel good about themselves.

Protect or increase profit margins for domestic producers.


Only the Govt and Producers benefit from tariffs.
Posted by cwill
Member since Jan 2005
54752 posts
Posted on 4/17/24 at 12:33 pm to
Tariffs are bad.

How about you? Good?
Posted by GumboPot
Member since Mar 2009
118714 posts
Posted on 4/17/24 at 12:37 pm to
quote:

Tariffs are bad



All taxes are bad.

But if I had to rank them tariffs might be the lease insidious of all taxes.

Tariffs are a consumption tax on specific imported good. They only made up $80 billion in the $5 trillion federal tax revenue. Tariffs are miniscule compared to other taxes.

Income taxes are probably the most insidious. They are marginal in terms of your level of income and they are targeted. That is, certain demographic get favors under income taxes based on physical traits, what you own, education level, etc.
Posted by wheelr
Member since Jul 2012
5147 posts
Posted on 4/17/24 at 12:38 pm to
I don't know enough about tariffs and how they affect large complicated economies to debate them.

But I do recognize double standards when I see them.
Posted by finchmeister08
Member since Mar 2011
35593 posts
Posted on 4/17/24 at 12:38 pm to
quote:

Producers benefit from tariffs.


i work for a producer so i'm feeling giddy.
Posted by GumboPot
Member since Mar 2009
118714 posts
Posted on 4/17/24 at 12:39 pm to
quote:

Only the Govt and Producers benefit from tariffs.


Democrats hate tariffs because they would rather see the demise of domestic industry and put those employees on the welfare roles to grow government and make sure those employees are dependent upon government. That's a Democrat vote for life.
Posted by frogtown
Member since Aug 2017
5002 posts
Posted on 4/17/24 at 12:41 pm to
quote:

But I do recognize double standards when I see them.


Biden loves tariffs. Trump loves tariffs.

Where is the double standard?
Posted by troyt37
Member since Mar 2008
13323 posts
Posted on 4/17/24 at 12:41 pm to
quote:

Only the Govt and Producers benefit from tariffs.


And when you are trying to save domestic production, rather than Chinese companies, those benefits are pretty damned good.
Posted by GumboPot
Member since Mar 2009
118714 posts
Posted on 4/17/24 at 12:49 pm to
Seriously, the appropriate level of tariffs can be put on imports that impact national security.

For example, tariffs on Chinese steel and aluminum is a good idea. The debate should be over the level of tariff. In times of war we don't want to depend on China for steel to build our ships and aluminum to build our air force.

I would consider tariffs on pharmaceuticals too. China has us by the balls when in comes to pharmaceuticals. And pharma is extremely automated. It's not like you would be saving that many U.S. jobs. The goal here would be to enhance national security on the medical front.

Another industry that needs some from of protection is semi conductors. As it stands now we have to defend Taiwan because they control the majority of semiconductor production. So we either pay on the defense side or the tariff side. Regardless, we pay.
This post was edited on 4/17/24 at 12:59 pm
Posted by TigerDoc
Texas
Member since Apr 2004
9902 posts
Posted on 4/17/24 at 12:57 pm to
quote:

Where is the double standard?


Right. The debate in the current election is over whether or not expand tariffs and the two candidates are quite at odds on that question. I don't think OP is really much of a gotcha because the electoral politics and the macroeconomics of adding tariffs and those of removing them aren't really the same.
Posted by wheelr
Member since Jul 2012
5147 posts
Posted on 4/17/24 at 1:06 pm to
Look at the screenshot. Post up when CNN says Biden is going to cause economic destruction.

I remember Biden criticizing Trump on this topic during the 2020 campaign. The media has been all over the place too.

https://www.forbes.com/sites/stuartanderson/2020/08/06/biden-says-he-will-end-trumps-tariffs-on-chinese-made-goods/?sh=3efbe142523a
Posted by RogerTheShrubber
Juneau, AK
Member since Jan 2009
260171 posts
Posted on 4/17/24 at 1:09 pm to
quote:

Rogerthecucker will now say tariffs good


You'll now say they are bad.

Theyre bad regardless of which liberal installs them.
Posted by Flats
Member since Jul 2019
21703 posts
Posted on 4/17/24 at 1:13 pm to
quote:

Tariffs are bad for the consumer

Make the govt feel good about themselves.


They give the government an enormous power, so of course they feel good about themselves.
Posted by Azkiger
Member since Nov 2016
21530 posts
Posted on 4/17/24 at 1:14 pm to
quote:

Where is the double standard?


Media says when Biden does it its great. Did you read the OP?
Posted by GumboPot
Member since Mar 2009
118714 posts
Posted on 4/17/24 at 1:14 pm to
As a politician, the problem with taking tariffs off the negotiation table from the get-go because the Cato Institute and the U.S. Chamber of Commerce paid you to be ideologically against tariffs is, you are removing a trade negotiating tool from your negotiating toolbox.

Anyone that is ideologically against tariffs will likely get rolled by China or any European country on trade deals screwing over the American people but probably making U.S. Chamber of Commerce multinational corporate members really happy.
Posted by GumboPot
Member since Mar 2009
118714 posts
Posted on 4/17/24 at 1:16 pm to
quote:

They give the government an enormous power, so of course they feel good about themselves.


They contribute about 1.6% to the size of government.
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