Tariffs on Chinese products are a tax on us. The Chinese don’t pay U.S. tariffs… Americans do. It’s the same as raising corporate taxes. Corporations don’t pay taxes. Corporate taxes are just another line item expense. Corporations collect taxes from us in the form of higher prices and pass our money on to government. Biden keeps finding tricky ways to siphon money out of the productive economy (taxing us) and giving that money to bureaucrats.
What Nick said!
Same shit…different day.
Agreed. He did similarly, till he figured out that tariffs on the Chinese aren’t paid by the Chinese.
It’s a battle of wits from the witless.
“We’re going to put a 100% tariff on every single car that comes across the line, and you’re not going to be able to sell those guys if I get elected,” Trump said during a rally in Vandalia, Ohio.
Trump isn’t the brightest when it comes to economics. I agree with you on that. He’s way better than Biden as a choice, but Trump has his flaws. He pardoned that war criminal Eddie Gallagher.
I’ll give you a perfect example regarding tariffs. When I build a steel bridge for someone and have to pay more for steel because of tariffs, the American I’m building the bridge for pays those tariffs. They are just another cost increase to me which I have to pass on. Tariffs are taxes on Americans… just like corporate taxes are taxes on Americans.
Agreed!!
But Trump has other qualities to make up for it. Namely cutting taxes on higher income earners. The top 1% pays 46% of the taxes for everyone!!! Ridiculous. Totally unfair. Serfs (one step above slaves) only paid 15% to their masters. I aspire to be treated by my government as a mere serf. And now Biden wants a wealth tax which is unconstitutional and immoral.
Joe “Mr. Environment” Biden raised the tariffs on EVs to 105%!!! So much for him being an environmentalist. Pure greed at the expense of planet earth.
Pretty sure the idea is to make Chinese cars, steel, and whatever other slave labor cheap and inexpensive merch they’re flooding our market with, more expensive, so it at least brings it up to a level playing field, and hopefully those building that bridge will buy American made steel as opposed to Chinese made steel.
When that happens, the workers in the American steel plants get to keep their jobs, which in turn allows them to buy houses and have them inspected before they close.
The same goes for cars and other imported products.
A product “Made In America” will get my money everytime before an imported product will.
The rich cutting taxes for the rich. Genius.
We don’t tax wealth, we tax income - that’s why it’s called income tax. Taxing wealth is illegal (constitutionally) and immoral. So back to income: The top 1% income earners pay 46% of the taxes for all of us. Does that sound anywhere close to reasonable to you?
Not true. Here is the correct statement: “When that happens, the workers in the American steel plants get to keep their jobs which are artificially maintained, instead of going on to other industries that need people or launching their own businesses.”
Let the efficient free market decide if we need to protect jobs at the expense of my customers who buy products made of steel from me. You harm them, you harm me, just so someone can have a fake job. Net loss to America. WE WANT TO SEND LITTLE PIECES OF PAPER WITH FACES ON THEM TO THE CHINESE IN RETURN FOR ACTUAL STEEL AND ALUMINUM!!! It’s brilliant. Grow our trade deficits!!! If some country is stupid enough to trade us hard products that required real resources and labor to produce … in return for faces on pieces of paper, let them!
Why am I not Biden’s economic advisor and this idiot is: TikTok - Make Your Day
LOL.
Uh, no. The government doesn’t lend money by selling bonds. They borrow money by selling bonds. OMG, make me chair of economic advisors for Biden. I’ll get us out of this mess.