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100% of Economists Disagree with Trump
- Thread starter Toro
- Start date
Synthaholic
Diamond Member
I seriously don't understand the conventional wisdom that because Trump has a lot of money he's smart, knowledgeable, or wise.surely he knows better.
It must be pure partisanship, because I don't hear conservatives talk that way about George Soros.
Synthaholic
Diamond Member
Thank you President Obama (praise be unto Him!)This is an extremely complicated issue. Between them, China & Russia hold +/- $3 trillion in our bonds, and they are going to protect themselves. Always.The guy is like the Tazmanian Devil of contemporary political discourse.Not surprising, given that economists - regardless of political stripe - agree that free trade is good for Americans.
Donald Trump’s solution is to ... levy a 45% tax on Chinese imports. The idea is to make Chinese goods more expensive so that American producers who pay their workers more can gain a competitive edge.
There’s a painful side effect to this plan, however: It would, well, make a lot of products more expensive, and most of the price hikes would come straight out of consumer wallets. ... A 45% tariff on Chinese imports would encourage other low-cost exporters, such as Vietnam, Bangladesh and Mexico, to ship more goods to America. Whether U.S. producers would gain an edge is debatable. ...
Trump’s tariff plan would likely meet firm public resistance. Economists would also protest. “Economists disagree about a lot,” says Ozimek, “but there’s very strong agreement that free trade benefits Americans, on average.” A poll of economists by the University of Chicago, for instance, found that 100% of them believe U.S. trade with China makes most Americans better off.
Most economists also agree that free trade—like anything that improves efficiency and market performance—produces winners and losers. And the losers usually include people who get the job done slower, at a higher cost than competitors. Protecting underperformers isn’t likely to help the U.S. economy. Helping them perform better would.
Donald Trump wants you to pay more for smartphones, TVs and a lot else
He appears to think that the Chinese would just sit there and not react to huge tariffs. Yeah, they'll just sit there and take it.
Uh, that's the country that owns $1.2 TRILLION of our debt, sir, and could dump a shitload of it tomorrow, causing MAJOR economic havoc.
Gawd.
We have an annual Trade Deficit with China running at over 300 billion and climbing.
There are two possibilities.
1. That this reflects Unfair Trade and needs to be stopped to protect American interests and jobs from unfair competition.
2. That this is actually Free Trade and represents the fact that America and American are lazy ass dumb bitches that can't compete. If that is true, then we need to avoid battles we can't win and stop trade with China to protect American Interests and jobs.
Also, their ownership of so much of our debt is as much of a problem for them, as it is for US. If we go down in flames they eat that.
I believe in scenario 1. They have been fucking US for years, and it is time to end it.
They have little leverage because the Trade is so lopsided. What are they going to do? Stop fucking US? That's sort of the point.
Here's my point regarding this thread: Either Trump knows better and he's grandstanding at a level I've never seen, or he DOESN'T know better and that's even worse.
.
$3 trillion? Hardly. Russia holds about $82 billion. China, less than $1.5 trillion.
http://ticdata.treasury.gov/Publish/mfh.txt
Kosh
Quick Look Over There!
Who here thinks we get a good deal with Cruz's VAT???????????? Who here thinks a $100,000 home should cost an extra $16,000 to buy it.............
By this 1 example alone.............should we allow Cruz to put this in place................................
I'm not a fan of Cruz................if you haven't figured that out..............With his wife being with Goldman Sachs................STRIKE 2.
VAT taxes are a lot like Europe and the far left wants the US to be a lot like Europe..
There are already to many hidden/built in taxes..
Time to thin out the tax code system and simplify how taxes are applied and paid..
jillian
Princess
That's my guess too, surely he knows better. What he's saying simply is not going to happen. But he keeps saying stuff like this to fire up his supporters that just isn't reasonable, so there is just no way of knowing what he would do in office.I don't support tariffs, but I don't believe Trump will actually impose any. He's just using the threat as a negotiating tactic. Trump cannot impose any tariffs without the approval of Congress. That's the bottom line.
.
why would you think he knows better.
the man bankrupted four corporations, screwing his vendors.
if someone handed you 125 million dollars, i think you could make money with it too.
Synthaholic
Diamond Member
Which no corporation actually pays.The whole idea of raising tariffs is to make American products competitive.
It makes the economy less competitive, not more competitive.
It takes taxes away from more productive areas of the economy and gives taxes to less productive areas of the economy. Companies which cannot compete should be allowed to go bankrupt. Tariffs do not allow this to happen.
It staggers me that people who think they are "conservatives" support this. Tariffs are the government taking money from you and the government choosing winners and losers in the economy. This is a big reason why conservatives have always supported lowering tariffs - they don't believe that the government should be using tax money to support business.
Conservatives got all bent out of shape over bailing out the banks because the government used tax money to bail out a failing industry, but imposing tariffs is the exact same thing - it uses tax money to bail out failing industries.
If you want to bring jobs back to America you're going to have to pay more for products.
If you want to bring jobs back to America you're going to have to pay more for products.
Or you could cut taxes and regulations and pay less for products.
I dont know if you could cut taxes enough to make a difference.
I dont know if you could cut taxes enough to make a difference.
Our 35% corporate tax rate, highest in the world, doesn't make our goods cheaper.
#ToddFail
Kosh
Quick Look Over There!
I seriously don't understand the conventional wisdom that because Trump has a lot of money he's smart, knowledgeable, or wise.surely he knows better.
It must be pure partisanship, because I don't hear conservatives talk that way about George Soros.
This from a far left drone that voted for "Hope and Change" twice and got worse than Bush!
Indeependent
Diamond Member
- Nov 19, 2013
- 73,633
- 28,506
- 2,250
That's my guess too, surely he knows better. What he's saying simply is not going to happen. But he keeps saying stuff like this to fire up his supporters that just isn't reasonable, so there is just no way of knowing what he would do in office.I don't support tariffs, but I don't believe Trump will actually impose any. He's just using the threat as a negotiating tactic. Trump cannot impose any tariffs without the approval of Congress. That's the bottom line.
.
why would you think he knows better.
the man bankrupted four corporations, screwing his vendors.
if someone handed you 125 million dollars, i think you could make money with it too.
It might be prudent to find out the opinions of the other multi-billionaires who lost money along with him.
eagle1462010
Diamond Member
- May 17, 2013
- 69,597
- 34,645
- 2,290
Did that light bulb finally come on with you.....................and figure out exactly what I'm talking about............If you are stating you want a FLAT TAX and not Cruz's VAT...........then we agree.Who here thinks we get a good deal with Cruz's VAT???????????? Who here thinks a $100,000 home should cost an extra $16,000 to buy it.............
By this 1 example alone.............should we allow Cruz to put this in place................................
I'm not a fan of Cruz................if you haven't figured that out..............With his wife being with Goldman Sachs................STRIKE 2.
VAT taxes are a lot like Europe and the far left wants the US to be a lot like Europe..
There are already to many hidden/built in taxes..
Time to thin out the tax code system and simplify how taxes are applied and paid..
jillian
Princess
That's my guess too, surely he knows better. What he's saying simply is not going to happen. But he keeps saying stuff like this to fire up his supporters that just isn't reasonable, so there is just no way of knowing what he would do in office.I don't support tariffs, but I don't believe Trump will actually impose any. He's just using the threat as a negotiating tactic. Trump cannot impose any tariffs without the approval of Congress. That's the bottom line.
.
why would you think he knows better.
the man bankrupted four corporations, screwing his vendors.
if someone handed you 125 million dollars, i think you could make money with it too.
It might be prudent to find out the opinions of the other multi-billionaires who lost money along with him.
trump didn't lose money. he lost other people's money
Kosh
Quick Look Over There!
Did that light bulb finally come on with you.....................and figure out exactly what I'm talking about............If you are stating you want a FLAT TAX and not Cruz's VAT...........then we agree.Who here thinks we get a good deal with Cruz's VAT???????????? Who here thinks a $100,000 home should cost an extra $16,000 to buy it.............
By this 1 example alone.............should we allow Cruz to put this in place................................
I'm not a fan of Cruz................if you haven't figured that out..............With his wife being with Goldman Sachs................STRIKE 2.
VAT taxes are a lot like Europe and the far left wants the US to be a lot like Europe..
There are already to many hidden/built in taxes..
Time to thin out the tax code system and simplify how taxes are applied and paid..
I am against more taxes, I am for a simplified tax system.
The tax system Trump wants to implement is the far left wet dream tax, yet they hate him for it.
Flat tax would be good, but the problem is you would have to make sure the far left never gains power..
Indeependent
Diamond Member
- Nov 19, 2013
- 73,633
- 28,506
- 2,250
That's my guess too, surely he knows better. What he's saying simply is not going to happen. But he keeps saying stuff like this to fire up his supporters that just isn't reasonable, so there is just no way of knowing what he would do in office.I don't support tariffs, but I don't believe Trump will actually impose any. He's just using the threat as a negotiating tactic. Trump cannot impose any tariffs without the approval of Congress. That's the bottom line.
.
why would you think he knows better.
the man bankrupted four corporations, screwing his vendors.
if someone handed you 125 million dollars, i think you could make money with it too.
It might be prudent to find out the opinions of the other multi-billionaires who lost money along with him.
trump didn't lose money. he lost other people's money
Whose?
Kosh
Quick Look Over There!
That's my guess too, surely he knows better. What he's saying simply is not going to happen. But he keeps saying stuff like this to fire up his supporters that just isn't reasonable, so there is just no way of knowing what he would do in office.I don't support tariffs, but I don't believe Trump will actually impose any. He's just using the threat as a negotiating tactic. Trump cannot impose any tariffs without the approval of Congress. That's the bottom line.
.
why would you think he knows better.
the man bankrupted four corporations, screwing his vendors.
if someone handed you 125 million dollars, i think you could make money with it too.
It might be prudent to find out the opinions of the other multi-billionaires who lost money along with him.
trump didn't lose money. he lost other people's money
So did Obama, but you far left drones praised him for it!
See how the far left drones despise Trump for doing what Obama has done?
Synthaholic
Diamond Member
I would be happy to support that, in the interests of strangling Third World Manufacturing and bring those jobs home.
Strangling third world manufacturing? That's a great idea! Now all those poor masses have no jobs at all and are ripe for groups like ISIS and al Qaeda. And then you start screaming about how scared you are and that we should spend trillions to send troops all over the world to get killed.
Synthaholic
Diamond Member
...who was given his money by daddy.100 percent of the economists are not as rich as Trump, I go with the rich guy.
You really are a fool.
Synthaholic
Diamond Member
...from money given to him by daddy.Not surprising, given that economists - regardless of political stripe - agree that free trade is good for Americans.
Donald Trump’s solution is to ... levy a 45% tax on Chinese imports. The idea is to make Chinese goods more expensive so that American producers who pay their workers more can gain a competitive edge.
There’s a painful side effect to this plan, however: It would, well, make a lot of products more expensive, and most of the price hikes would come straight out of consumer wallets. ... A 45% tariff on Chinese imports would encourage other low-cost exporters, such as Vietnam, Bangladesh and Mexico, to ship more goods to America. Whether U.S. producers would gain an edge is debatable. ...
Trump’s tariff plan would likely meet firm public resistance. Economists would also protest. “Economists disagree about a lot,” says Ozimek, “but there’s very strong agreement that free trade benefits Americans, on average.” A poll of economists by the University of Chicago, for instance, found that 100% of them believe U.S. trade with China makes most Americans better off.
Most economists also agree that free trade—like anything that improves efficiency and market performance—produces winners and losers. And the losers usually include people who get the job done slower, at a higher cost than competitors. Protecting underperformers isn’t likely to help the U.S. economy. Helping them perform better would.
Donald Trump wants you to pay more for smartphones, TVs and a lot else
How many of them are worth billions?
I already know that you're a fool.
eagle1462010
Diamond Member
- May 17, 2013
- 69,597
- 34,645
- 2,290
I want a tax system where I pay a flat rate and file taxes on a post card.............Get rid of the MASSIVE TAX CODES...............Did that light bulb finally come on with you.....................and figure out exactly what I'm talking about............If you are stating you want a FLAT TAX and not Cruz's VAT...........then we agree.Who here thinks we get a good deal with Cruz's VAT???????????? Who here thinks a $100,000 home should cost an extra $16,000 to buy it.............
By this 1 example alone.............should we allow Cruz to put this in place................................
I'm not a fan of Cruz................if you haven't figured that out..............With his wife being with Goldman Sachs................STRIKE 2.
VAT taxes are a lot like Europe and the far left wants the US to be a lot like Europe..
There are already to many hidden/built in taxes..
Time to thin out the tax code system and simplify how taxes are applied and paid..
I am against more taxes, I am for a simplified tax system.
The tax system Trump wants to implement is the far left wet dream tax, yet they hate him for it.
Flat tax would be good, but the problem is you would have to make sure the far left never gains power..
Simple is always better....................KISS principle.........Keep it simple Stupid applies.
Synthaholic
Diamond Member
So is Cruz. Yet you'll prolly vote for him.Who's "We"? You're a Canadian.
Vigilante
Diamond Member
- Banned
- #199
...who was given his money by daddy.100 percent of the economists are not as rich as Trump, I go with the rich guy.
You really are a fool.
Can YOU turn $1 million into $10 Billion in 40 years.... You could turn $1 million into $10,000 in 40 years, you're such a brainiac!
Kosh
Quick Look Over There!
I want a tax system where I pay a flat rate and file taxes on a post card.............Get rid of the MASSIVE TAX CODES...............Did that light bulb finally come on with you.....................and figure out exactly what I'm talking about............If you are stating you want a FLAT TAX and not Cruz's VAT...........then we agree.Who here thinks we get a good deal with Cruz's VAT???????????? Who here thinks a $100,000 home should cost an extra $16,000 to buy it.............
By this 1 example alone.............should we allow Cruz to put this in place................................
I'm not a fan of Cruz................if you haven't figured that out..............With his wife being with Goldman Sachs................STRIKE 2.
VAT taxes are a lot like Europe and the far left wants the US to be a lot like Europe..
There are already to many hidden/built in taxes..
Time to thin out the tax code system and simplify how taxes are applied and paid..
I am against more taxes, I am for a simplified tax system.
The tax system Trump wants to implement is the far left wet dream tax, yet they hate him for it.
Flat tax would be good, but the problem is you would have to make sure the far left never gains power..
Simple is always better....................KISS principle.........Keep it simple Stupid applies.
Well the far left argument is that the flat tax punishes the poor, but I know that is just a religious talking point..
Would this flat tax be applied all across the board and replace the income tax? or would there be a different flat tax for corporations and investments?
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