I bought some 30 dollar beer glasses from Belgium. Got a 60 dollar tariff bill from FedEx after the fact. Edit: apparently fedex fees were most of this?
US businesses and consumers pay 90% of tariff costs, New York Fed says
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Re: US businesses and consumers pay 90% of tariff costs, New York Fed says
#32Everyone has been getting sold that these tariffs are on "China" or fill-in-the-blank on what country we're "getting" with them. The reality is that's a fundamental misunderstanding of what a tariff is. There is a reason you will find tariffs drop off after the great depression. They make everything more expensive for businesses and in turn, the end consumer. https://en.wikipedia.org/wiki/History_of_tariffs_in_the_Un…
I can’t help wondering if the biggest problem in the US right now is that a majority of people having a “fundamental misunderstanding” about many, many very important things. Maybe it’s because of propaganda, mis information, social media, education or because they’re too busy and tired trying to make ends meet so they don’t have time to research issues for themselves. It feels like it will be very difficult to cours…
Flat out lies about how tariffs work from the leader of the country might be part of it.
Re: US businesses and consumers pay 90% of tariff costs, New York Fed says
#33Tariffs are import taxes. The pre-Maga republican party used to be against taxes.
Similarly, the people loudly protesting tariffs are traditionally for higher taxes.
Those people are generally for higher taxes on the rich. Tariff are a flat tax that dis-proportionally affects the poor.
Re: US businesses and consumers pay 90% of tariff costs, New York Fed says
#34Re: US businesses and consumers pay 90% of tariff costs, New York Fed says
#35[deleted]
Re: US businesses and consumers pay 90% of tariff costs, New York Fed says
#36Tariffs are import taxes. The pre-Maga republican party used to be against taxes.
Pre-maga republicans also used to be pro open borders! A lot has realigned in the past decade or so.
Re: US businesses and consumers pay 90% of tariff costs, New York Fed says
#37The US has needed to raise taxes for decades given the level of spending the federal government does and constant "relief" packages that everyone now expects the minute there's a downturn. The runaway deficit is a massive problem now given the age of 0 interest rates is over. So what's astonishing is, whether you like him or not, the Orange man actually got the American public to accept what is defacto the largest ta…
> What's astonishing is, whether you like him or not, the Orange man actually got the American public to accept what is defacto the largest tax increase in decades. What does it mean "got the public to accept it?" The public had no say and these are probably illegal. On top of that, he probably literally does not know that these are effectively taxes on consumers (i.e. he believe his own bullshit). No credit is due h…
This was a huge part of the platform that the US overwhelmingly voted for in the last election. People wanted this.
Yes, I'm sure he believes his own bullshit, but ironically, its bullshit that the US actually needed to pull (tax increases). Modern democracy has proven totally incapable of not stealing the future from its children.
Re: US businesses and consumers pay 90% of tariff costs, New York Fed says
#38Tariffs are import taxes. The pre-Maga republican party used to be against taxes.
Similarly, the people loudly protesting tariffs are traditionally for higher taxes.
I believe these loud people are mostly for taxes on wealth vs. direct taxes on consumption, as the latter affect lower classes more acutely.
Re: US businesses and consumers pay 90% of tariff costs, New York Fed says
#39I have a feeling we should blame English, the language
Tariff can hardly to connected to tax
In Chinese , tariff = 关 税 = port tax
Re: US businesses and consumers pay 90% of tariff costs, New York Fed says
#40Everyone has been getting sold that these tariffs are on "China" or fill-in-the-blank on what country we're "getting" with them. The reality is that's a fundamental misunderstanding of what a tariff is. There is a reason you will find tariffs drop off after the great depression. They make everything more expensive for businesses and in turn, the end consumer. https://en.wikipedia.org/wiki/History_of_tariffs_in_the_Un…
It is baffling to me, as it is no different than thinking that "sugar taxes" are taxes that soda companies pay. There is even a straight forward analysis that shows it does impact the soda companies rather heavily. But it is objectively paid by the consumers. And nobody is really confused by that.