Trump wants to eliminate income tax, but replace it with tariffs on imported goods.

[Markle]

From Trump? Nope. He holds the single term record for adding to the deficit at around 8 trillion.

Trump is all about massive leveraged debt. His 1st term and his career demonstrate it.

 

[YoursTruly]

You pretend the data out there does not exist. I guess, in your far-left world, it probably does not. There was nothing more I could provide to a closed mind.

People don't understand economic ups and downs. Prices were better in 2019. But from anything Trump did. The economy is stablizing now. But it's not because of anything Biden is doing.

 

[Markle]

People don't understand economic ups and downs. Prices were better in 2019. But from anything Trump did. The economy is stablizing now. But it's not because of anything Biden is doing.

That's just silly.

The day President Biden was elected, prices started to skyrocket because of what he had promised. It really is that simple.

 

[Slade3200]

By production moving out of china to the US, Vietnam, Thailand, India, ect

And also by china reducing its prices to keep market share

How long would off of that take and what happens to our economy during that time… particularly those most effected by the recent inflation that occurred on the heels of COvID?

 

[Skylar]

And where did Trump do any of the massive cost cutting that is being advocated in this thread? Before or after COVID-19?

All we're doing now is discussing why I'm right.

 

[YoursTruly]

That's just silly.

The day President Biden was elected, prices started to skyrocket because of what he had promised. It really is that simple.

Inflation increases started when Biden took office. Not because Biden took office. The inflation was going through the roof before any of Bidens so called "policies" were even passed. Much less implemented.

Inflation takes years to come about. And takes for ever for us to adapt. Inflation never goes down, btw. Wages increase and the economy stabilizes. That's the recovery stage we're in now. And for the next few years, once WE have recovered the economy, things will be pretty good.

 

[Skylar]

Inflation increases started when Biden took office. Not because Biden took office. The inflation was going through the roof before any of Bidens so called "policies" were even passed. Much less implemented.

Inflation takes years to come about. And takes for ever for us to adapt. Inflation never goes down, btw. Wages increase and the economy stabilizes. That's the recovery stage we're in now. And for the next few years, once WE have recovered the economy, things will be pretty good.

inflation increases spiked world wide as we came out of COVID. And yes, inflation goes down. As demonstrated by a global spike at around 8.7% to a global rate of less than 5% today. With the US far below that global average, at only 3.3%. All without a recession.

 

[Mac-7]

How long would off of that take and what happens to our economy during that time… particularly those most effected by the recent inflation that occurred on the heels of COvID?

Its a process

We didnt move production to china overnight and we cant remove it overnight either

 

[Slade3200]

Its a process

We didnt move production to china overnight and we cant remove it overnight either

I’m well aware that it’s a process which is why I asked the questions that I asked. Wanna take a stab at actually answering them?

 

[AsherN]

My point is to not buy stuff that's on the list of higher tariffs. Not all countries imports would be on the list. Not everything that would be imported is on the list.

It is the topic, because Trumps a leftist lying politician. That's all he does is lie.

And you carrying on about this lie, equates to him owning you. Actually discussing something that could never happen in a million years.

If you do the math, to replace income tax with tariffs, EVERYTHING imported would need a at least 75% tariff.

 

[AsherN]

Huh? I've said simply that we import more from China than we export to China. Thus, the trade deficit.

"The deficit with China decreased $102.9 billion to $279.4 billion in 2023. Exports decreased $6.2 billion to $147.8 billion and imports decreased $109.1 billion to $427.2 billion. The deficit with Canada decreased $12.2 billion to $67.9 billion in 2023."

U.S. International Trade in Goods and Services, December and Annual 2023 | U.S. Bureau of Economic Analysis (BEA)

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $62.2 billion in December, up $0.3 billion from $61.9 billion in November, revised.

www.bea.gov

What about this do you find so objectionable?

Trade deficit overall is not a zero-sum game. Trade deficit between 2 countries is absolutely not a zero-sum game.

 

[Mac-7]

I’m well aware that it’s a process which is why I asked the questions that I asked. Wanna take a stab at actually answering them?

I answered your question about how long

And weening Americans away from china will raise prices in the short run

But it will enhance our longterm economic and military security

 

[AsherN]

With higher tariffs the extra money stays in America

Without tariffs the money goes to china

The same amount of money goes to China. The goods just cost more here. The American people pay the tariff.

 

[AsherN]

By production moving out of china to the US, Vietnam, Thailand, India, ect

And also by china reducing its prices to keep market share

One, none of those countries have a capacity, would take years to ramp up. Second, that scheme relies on tariffs on everything entering the country, regardless of where it comes from.

 

[Mac-7]

The same amount of money goes to China. The goods just cost more here. The American people pay the tariff.

See post 571

“Less money goes to china since exports to the US will fall”

 

[Mac-7]

One, none of those countries have a capacity, would take years to ramp up. Second, that scheme relies on tariffs on everything entering the country, regardless of where it comes from.

There is no scheme to replace the income tax with tariffs

As for the first part :

“One, none of those countries have a capacity,”

Thats a good thing

The kind of diversity that I like

 

[AsherN]

See post 571

“Less money goes to china since exports to the US will fall”

Driving the death spiral, since less imports lead to higher tariffs on the remainder to maintain the revenue.

 

[Slade3200]

I answered your question about how long

And weening Americans away from china will raise prices in the short run

But it will enhance our longterm economic and military security

You didn’t answer my questions about how long. You avoided them.

How long is the “short run”? 1 year? 5? 20? 50?

 

[Mac-7]

Driving the death spiral, since less imports lead to higher tariffs on the remainder to maintain the revenue.

What are you talking about?

Hopefully there will be zero imports from china which means no additional money from the tariff

Or are you still stuck on not replacing the income tax?

 

[Mac-7]

You didn’t answer my questions about how long. You avoided them.

How long is the “short run”? 1 year? 5? 20? 50?

Obviously no one knows how long

Hopefully less time than it took to move production to china