Can Tariffs be used to build The Wall??

[kyzr]

Just curious what happens to the tariff money after it is collected? Who controls it?

Can it be used to build the wall?

 

[Kosh]

It is a tax, thus Congress has control.

Unless it is the far left then they do not care about such rules.

 

[Siete]

aint gonna be no damn WALL - GET F'N OVER IT !!

out of the 1.3 Trillion $$$ Cogress just passed they gave Trump 1 Billion for FENCE REPAIRS.

so suck it up ..

 

[ABikerSailor]

Just curious what happens to the tariff money after it is collected? Who controls it?

Can it be used to build the wall?

A tariff is an additional tax on goods and materials from a specific country.

A couple of quick questions........................what country are you going to hit with tariffs to build the wall with Mexico?

And, if we target another country other than Mexico for the tariffs, is that fair to the other country that they are paying for Mexico's wall?

 

[idb]

Isn't the cheque from Mexico in the mail?

 

[Toddsterpatriot]

Congress needs to pass a funding bill to spend money on a wall.

 

[eagle1462010]

The funding has to go through Congress......................Revenue from tariffs would go into the Treasury.

 

[usmbguest5318]

Just curious what happens to the tariff money after it is collected? Who controls it?

Can it be used to build the wall?

It depends.

• If the tariff sums collected are classified as general fund money, they can be spent any way the agency wants to spend them, provided such spending purposes are not expressly or implicitly prohibited by law.
• If the tariff sums collected are classified as special fund money, they can be spent only in accordance with the constraints applicable to the special fund with which they are associated.

The problem, however, is that tariffs are paid partly by buyers and partly by sellers. How much each pays depends on the elasticity of demand for the good(s) having the tax applied to them. For goods that are inelastically demanded (steeper than 45 degree demand curve at the point of equilibrium), the bulk of the tax is paid by buyers, and the steeper the curve at that point, the more of it that buyers pay.

 

[TheOldSchool]

Just curious what happens to the tariff money after it is collected? Who controls it?

Can it be used to build the wall?

Tariffs increase the cost of living for consumers, and so they can afford to buy less. Revenue will either stay the same, or go down, while the average citizen will not be able to afford as much as they did before. So no, tariff revenue will not pay for anything.

 

[EvilCat Breath]

Tax remittances. That's what you build the wall with. Mexico will go insane if remittances are taxed but they deserve it for letting the honduran invaders cross mexico.

 

[Norman]

aint gonna be no damn WALL - GET F'N OVER IT !!

out of the 1.3 Trillion $$$ Cogress just passed they gave Trump 1 Billion for FENCE REPAIRS.

so suck it up ..

And as we recall, ain't gonna be no Trump either.

Prepare for more butthurt.

 

[usmbguest5318]

Just curious what happens to the tariff money after it is collected? Who controls it?

Can it be used to build the wall?

Tariffs increase the cost of living for consumers, and so they can afford to buy less. Revenue will either stay the same, or go down, while the average citizen will not be able to afford as much as they did before. So no, tariff revenue will not pay for anything.

Tariffs increase the cost of living for consumers

That's situationally true.

• Tariffs on essential raw materials do increase the cost of living.
  • Tariffs on things like steel, rubber, cotton, certain chemicals, elements and compounds, very basic goods, etc. increase the cost of living.
• Tariffs on discretionary goods increase the cost of purchasing those goods, but depending on what goods they be, they may or may not increase the cost of living.
  • A tariff on goose liver will not increase the cost of living. The demand curve for goose liver is, macroeconomically speaking, highly elastic. It's damn near flat, yet it isn't perfectly elastic (flat).
  • A tariff on chicken will increase the cost of living. The demand curve for chicken in general is very inelastic, not perfectly so (vertical) but it's quite steep.
  • A tariff on value-added chicken (any chicken or chicken product that has more processing beyond killing, gutting, and defeathering the birds) might increase the cost of living. (I can't say what impact it'll have because I don't know what the demand curve looks like for such products.)
  • A tariff on shoes will increase the cost of living.
  • A tariff on Ferragamo shoes will not increase the cost of living.

To be sure, tariffs increase the price of things to which the tariff applies. If those things are directly or indirectly elements in the "basket of goods" that most consumers purchase, the tariff will increase the cost of living. If the tariff-applied goods are not in that "basket," or that are in it but only negligibly weighted, it merely increases the price of the goods subject to the tariff.

​

The reason Trump's tariff is economically ridiculous is that it applies to two of the most pervasive raw materials in the economy. Consequently, there is no way for American consumers and producers to avoid it. In contrast, say, China's retaliatory tariff on pork will increase prices for pork in China (and globally if China is a large buyer of pork and the U.S. is a dominant exporter of pork...the food kind, not the rhetorical kind (LOL)); however, as anyone who's spent any time in the PRC has observed, Chinese people have scads and scads of alternatives to pork, enough if the tariff need not have any impact on the cost of living. [1]


Note:

1. One thing about Chinese folks' diet is that they mostly eat fresh proteins. Their notion of fresh differs from ours. To them, it means the creature was alive just minutes before. For example, it's not uncommon that when one goes to a restaurant and orders chicken, the chef grabs a chicken from a cage, kills and guts it and then cooks it. That's fairly typical for all sorts of animal proteins, but it's not so for pork and beef, both of which are too large and require too much maintenance for that.
   
   Whereas birds and rabbits are usually kept out of sight, fish are displayed in plain sight, mainly because customers are offered the opportunity to examine the available fish and pick they ones they want, which is only fair insofar as the price one pays is X per pound.
   
   The water takes the fish out of the tank, kills it and puts it on a scale so the customer can see what it weighs. The chef scales, guts and cooks the fish (steamed is far and away the most common cooking method) one selected and the waiter brings it to the table and, upon request, fillets it. Diners are given the whole fish, save for the guts.
   
   
   
   
   
   
   
   
   
   I ate a lot of fish in the PRC. It was always delicious! The fish tasted sweet in a way (not sugary) but was never "fishy" tasting, if you know what I mean, and had no pungent fishy odor. That brown sauce pictured above can have a variety of flavors...sweet, sour, or spicy or some combination of the three.
   
   The approach to food I described above is pretty typical to most of Southern Asia. The insistence on freshness is what, IMO, contributes to so much Southern Asian food tasting so darn good, no matter how bizarre it may look to Western eyes. I tell folks who've never been "just order something that you think sounds good and when it arrives, simply put the food in your mouth and it won't take a hot second for you to get over what it looks like." It's that tasty....as well it should be...Those cultures have been cooking food that way for thousands of years. For all that's changed over the millennia, human taste buds have not.

 

[rightwinger]

Doesn’t matter

We are going to tear down the wall as soon as Trump is gone
Mexico may pay for it

 

[IsaacNewton]

Tariffs? LOL

Trump to China "we're charging 25% tax on every steel import you ship here"
China to Trump "we're charging 25% tax on more than 100 products you ship here"

And companies in the US lose money and jobs. It's the equivalent of raising the price of all those products 25% in one day. Now according to the market is such a company going to sell more of their product or less with a 25% hike in the price?

The orange turd is a moron.

 

[Toddsterpatriot]

Doesn’t matter

We are going to tear down the wall as soon as Trump is gone
Mexico may pay for it

Dems should run on that.
Higher taxes, open borders and we're coming for your guns!!!!
You should start today. What could go wrong?

 

[rightwinger]

Doesn’t matter

We are going to tear down the wall as soon as Trump is gone
Mexico may pay for it

Dems should run on that.
Higher taxes, open borders and we're coming for your guns!!!!
You should start today. What could go wrong?

We could raffle shares to tear it down

Raise some money

 

[kyzr]

Out of all of these I like the "tax remittances" recommendation the best. When they send money home to Mexico a few percent can be taxed to fund the wall and border security. The tariff revenue seems less connected to Mexico and the wall.

Please God, let the dems run on tearing down the wall and gun control...

 

[frigidweirdo]

Just curious what happens to the tariff money after it is collected? Who controls it?

Can it be used to build the wall?

Yes, it could.

However the US is increasingly more and more in debt, Trump's made massive tax cuts, and the implementation of tariffs will probably REDUCE tax going into US coffers anyway.

It'll just end up in the pockets of the rich, again.