100% of Economists Disagree with Trump

[TNHarley]

higher prices and a lack thereof of junk, is more important than our laborers, GDP etc. but it's ok. There will be plenty of jobs available for stacking Chinese junk on shelves and flipping fast food workers because no one can afford a grocery store. Lol makes sense.

So you DO support higher taxes and think capitalism produces junk.

You sound like Naomi Klein, who is left of the socialist, Bernie Sanders.

Did you know that you sound like a communist?

No, I think the Chinese produce a lot of junk. You think we won't be able too deal without Chinese tvs and Barbie dolls? I mean, for real?

 

[TNHarley]

I am guessing toro supports globalism and corporatism..

 

[Toro]

Utter bullshit OP. Do you know how many disagreements I have read against David Ricardo?
how do you think Japan got so badass?
How do you think America got so badass?
That is barely higher than what we charge American corporations any damn ways.

Can you please justify your communist-leaning tax increases on the American economy with a more coherent answer?

Thanks.

Riddle me this.................What is the difference between Cruz's VAT proposal and Tariffs...........................................................................................................

A VAT is a value-added tax at various stages of production. A tariff is a tax based on the origin of production, and artificially raises the cost of imported goods. VATs are non-discriminatory on the origin of production. A tariff destroys wealth because it rewards inefficiency.

Economists like a VAT better than a tariff because tariffs distort the allocation of capital to less efficient producers.

There's a reason why we don't have a tariff on buggy whips to protect the American buggy whip industry.

Tariffs are taxes for losers. Literally. They are taxes to support dying industries at the expense of growing industries. That's why economists hate them.

 

[Toro]

I am guessing toro supports globalism and corporatism..

I support free enterprise and capitalism.

I guess you support communism and a Little America that can't compete on the world stage.

 

[eagle1462010]

Utter bullshit OP. Do you know how many disagreements I have read against David Ricardo?
how do you think Japan got so badass?
How do you think America got so badass?
That is barely higher than what we charge American corporations any damn ways.

Can you please justify your communist-leaning tax increases on the American economy with a more coherent answer?

Thanks.

Riddle me this.................What is the difference between Cruz's VAT proposal and Tariffs...........................................................................................................

A VAT is a value-added tax at various stages of production. A tariff is a tax based on the origin of production, and artificially raises the cost of imported goods. VATs are non-discriminatory on the origin of production. A tariff destroys wealth because it rewards inefficiency.

Economists like a VAT better than a tariff because tariffs distort the allocation of capital to less efficient producers.

There's a reason why we don't have a tariff on buggy whips to protect the American buggy whip industry.

Tariffs are taxes for losers. Literally. They are taxes to support dying industries at the expense of growing industries. That's why economists hate them.

Yet both are considered a consumption tax in the end......................both raise prices to generate revenue for the Gov't.............If they both raise the price of a widget...........then really is it that much of a difference?????????

 

[TNHarley]

I am guessing toro supports globalism and corporatism..

I support free enterprise and capitalism.

I guess you support communism and a Little America that can't compete on the world stage.

So do I toro, but I understand is repeatedly losing isn't a way to go up. Repeating the same shot over an over with terrible results is insanity.
I don't support communism or a little America. I just actually care about America. And her people. Not just the goddamn corporations that run it.

 

[kiwiman127]

How many economists do we have posting on USMB and how many non-economists do we have on this thread who are simply hyper-partisan Trump butt sniffers?

 

[Kosh]

How many economists do we have posting on USMB and how many non-economists do we have on this thread who are simply hyper-partisan Trump butt sniffers?

Says the non-economist/socialist far left drone..

 

[eagle1462010]

I don't agree with Trump on the large percentage..................but I do agree in Tariffs to save jobs here.............We negotiated trade deals on a country by country basis for over 200 years.................If it isn't broke don't fix it...............

I'm Ok with tariffs for some protectionism..............of course I'd not go full bore on it................

I'm not voting for Trump in the primaries BTW.

 

[TNHarley]

I agree with trump on the economy. Period. I'm not sniffing his butt.
I have felt this way since before that kid announced.
And I'm sure a lot of other people didn't start caring about America just be caused he announced either.

 

[Toro]

Yet both are considered a consumption tax in the end......................both raise prices to generate revenue for the Gov't.............If they both raise the price of a widget...........then really is it that much of a difference?????????

The difference is that a VAT is less distortionary to economic activity.

A VAT raises prices across all products. There is no advantage to one industry. A tariff raises prices only on some industries, and benefits industries which cannot compete.

With a tariff, capital that otherwise would have flowed to more efficient enterprises which help economic growth is instead diverted to less efficient industries to prop them up. It's a failing strategy that destroys wealth.

Many conservative economists believe that we should replace the income tax with a VAT because it's more efficient. Liberal economists disagree on moral grounds more than economic ones.

 

[Kosh]

Based on the far left OP..

100% encomiasts agree that socialism is bad for everyone!

 

[Preacher]

How Free Trade Is Killing Middle America

 

[eagle1462010]

Yet both are considered a consumption tax in the end......................both raise prices to generate revenue for the Gov't.............If they both raise the price of a widget...........then really is it that much of a difference?????????

The difference is that a VAT is less distortionary to economic activity.

A VAT raises prices across all products. There is no advantage to one industry. A tariff raises prices only on some industries, and benefits industries which cannot compete.

With a tariff, capital that otherwise would have flowed to more efficient enterprises which help economic growth is instead diverted to less efficient industries to prop them up. It's a failing strategy that destroys wealth.

Many conservative economists believe that we should replace the income tax with a VAT because it's more efficient. Liberal economists disagree on moral grounds more than economic ones.

Why couldn't the tariffs be uniform then? small rate across the board................it would do the same thing......

 

[Missourian]

Who should we believe? The man that's spent 35-40 years CUTTING DEALS,STARTING BUSINESSES etc or people who TALK about doing these things? I know who I believe in and trust.

QFT.

 

[TNHarley]

Yet both are considered a consumption tax in the end......................both raise prices to generate revenue for the Gov't.............If they both raise the price of a widget...........then really is it that much of a difference?????????

The difference is that a VAT is less distortionary to economic activity.

A VAT raises prices across all products. There is no advantage to one industry. A tariff raises prices only on some industries, and benefits industries which cannot compete.

With a tariff, capital that otherwise would have flowed to more efficient enterprises which help economic growth is instead diverted to less efficient industries to prop them up. It's a failing strategy that destroys wealth.

Many conservative economists believe that we should replace the income tax with a VAT because it's more efficient. Liberal economists disagree on moral grounds more than economic ones.

Good post. But no one could ever convince me us not having jobs is somehow good for us. Maybe you can?

 

[bripat9643]

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

It's a negotiating tactic. He's never going to impose that kind of tariff. He can't without Congressional approval.

 

[TNHarley]

Based on the far left OP..

100% encomiasts agree that socialism is bad for everyone!

That was about as conservative as one could get. you do know conservatives like capitalism and trump is no righty, right?

 

[Toro]

So do I toro, but I understand is repeatedly losing isn't a way to go up. Repeating the same shot over an over with terrible results is insanity.
I don't support communism or a little America. I just actually care about America. And her people. Not just the goddamn corporations that run it.

There is, literally, no place on earth in the rich world where tariffs have added to economic growth.

There is mixed evidence that tariffs help poor, developing economies. In some cases they do, in others they don't. But they don't in the rich world. All they do is destroy wealth by propping up dying industries.

The appeal of tariffs is that they would protect the jobs of those in industries in which we can no longer compete, which are primarily low income, low productivity jobs. It's no coincidence that the people who are more receptive to this argument are lower income, less educated Americans. That's Trump's demographics. It's also Bernie Sander's demo, outside of the college kids and white wine liberals.

Wealth is created by becoming more productive. Tariffs make us less productive.

Unfortunately, we have an economy where more and more of the gains are going to the upper crust. That has nothing to do with taxes, or tariffs, or Obama or Bush, or whomever. It has to do with other parts of the world cluing in on the awesomeness of capitalism and the advent of technology, the latter being unstoppable.

 

[Kosh]

How Free Trade Is Killing Middle America

Tell that to Bill Clinton, Nancy Pelosi, John Kerry, and even the late Edward Kennedy all voted for NAFTA and yet the far left drones still support them..

H.R. 3450 (103rd): North American Free Trade Agreement Implementation Act -- House Vote #575 -- Nov 17, 1993
H.R. 3450 (103rd): North American Free Trade Agreement Implementation Act -- Senate Vote #395 -- Nov 20, 1993