JBvM
VIP Member
My notes:
Just trying to figure out who is principled, who is a partisan hack, and who is clueless to the startling disconnect in many arguments and attacks.
Trump's Tariffs & higher prices for Gas
If Trumpeteers don't mind paying more for stuff because they support Trump's Tariffs
Why is it a crime if others support paying $10 dollars per gallon for regular Gas/Petrol?
Trump bragged that “China is paying us billions of dollars in tariffs.” Treasury, he added, is collecting “tremendous amounts of money, which is great for our country.” - What Is A Tariff And Who Pays It?
China Trade War: What Is A Tariff And Who Pays It?
Will Trump’s new tariffs generate a big boost in federal revenue?
The short answer is: No.
Import taxes are a trivial share of federal revenue and, even with Trump’s new tariffs, they will remain insignificant. The president says the U.S. has collected about $22 billion since his first round of tariffs earlier this year. That may be high. But even if it isn’t, keep in mind that the government expects to collect $2.4 trillion in tax revenue in 2018--making $22 billion loose change in the fiscal sofa cushions.
Worse, the new revenue is likely to be temporary as U.S. importers and sellers find suppliers not subject to the tariff. Unfortunately, the tax on consumers in the form of those higher prices is less likely to disappear.
If Trumpeteers don't mind paying more for stuff because they support Trump's Tariffs
Why is it a crime if others support paying $10 dollars per gallon for regular Gas/Petrol?
Trump bragged that “China is paying us billions of dollars in tariffs.” Treasury, he added, is collecting “tremendous amounts of money, which is great for our country.” - What Is A Tariff And Who Pays It?
China Trade War: What Is A Tariff And Who Pays It?
Will Trump’s new tariffs generate a big boost in federal revenue?
The short answer is: No.
Import taxes are a trivial share of federal revenue and, even with Trump’s new tariffs, they will remain insignificant. The president says the U.S. has collected about $22 billion since his first round of tariffs earlier this year. That may be high. But even if it isn’t, keep in mind that the government expects to collect $2.4 trillion in tax revenue in 2018--making $22 billion loose change in the fiscal sofa cushions.
Worse, the new revenue is likely to be temporary as U.S. importers and sellers find suppliers not subject to the tariff. Unfortunately, the tax on consumers in the form of those higher prices is less likely to disappear.
Just trying to figure out who is principled, who is a partisan hack, and who is clueless to the startling disconnect in many arguments and attacks.