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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

#281

Post by DeRock »

tw85 wrote: post #270
LastTrain wrote: post #251

Earlier quoted context omitted.

Predominately, yes. It has been weaponized by the current Republican party. I'm not saying Democrats never ever do it, just that it isn't part of their MO like it is in the current Republican party. Let me propose a game. You name a bald-face lie told by the last administration. A bald-face lie is one where the person telling the lie knows its a lie, and knows that the people they saying the lie to knows that it is a…

[flagged]

Where are these quotes from? They appear to be made up by you.

Re: US businesses and consumers pay 90% of tariff costs, New York Fed says

#282

Post by LastTrain »

tw85 wrote: post #270
LastTrain wrote: post #251

Earlier quoted context omitted.

Predominately, yes. It has been weaponized by the current Republican party. I'm not saying Democrats never ever do it, just that it isn't part of their MO like it is in the current Republican party. Let me propose a game. You name a bald-face lie told by the last administration. A bald-face lie is one where the person telling the lie knows its a lie, and knows that the people they saying the lie to knows that it is a…

[flagged]

Do you know what a quote is? It isn't paraphrasing what you vaguely remember someone telling you. Of course you know that, but here you come in bad faith anyway.

Re: US businesses and consumers pay 90% of tariff costs, New York Fed says

#283

Post by Aloisius »

kurtis_reed wrote: post #43
xnx wrote: post #22

Tariffs are import taxes. The pre-Maga republican party used to be against taxes.

Taxing and spending is so much fun even the Republicans can't resist the temptation

They're more Tax Cut and Spend which is infinitely worse.

Re: US businesses and consumers pay 90% of tariff costs, New York Fed says

#284

Post by Aloisius »

Alupis wrote: post #249
g947o wrote: post #164

Earlier quoted context omitted.

Like, at least 50% of the things you use every day, from phone and laptops to kitchen utensils.

For today, sure. People act like 365 days is long enough to change consumer spending habits, and onshore production facilities that took years to offshore. If tariffs are held strong, there will be two possible outcomes: 1) Domestic production will be increased (via American businesses as well as onshoring foreign businesses), providing jobs and ultimately lower-cost products 2) International tariffs will be decrease…

> ultimately lower-cost products

When has reduced competition ever resulted in lower-cost products?

Even for goods we already mass produce, companies respond to tariffs of their competitor's goods by hiking their own prices up.

Re: US businesses and consumers pay 90% of tariff costs, New York Fed says

#286

Post by thoughtstheseus »

transcriptase wrote: post #67
Arubis wrote: post #8

Yes. This is what a tariff is.

Exactly. You make it more attractive to do business with someone domestically by increasing the cost of doing business with nations that subsidize their exports or undercut your companies with slave labour or lax environmental regulations. Over the long term, domestic capacity either grows or emerges to take advantage of business models that were unprofitable due to impossibly cheap imports before.

You also lower the profits from the exporting country (China) through reduced volumes. China has been on a massive productivity growth agenda that is only sustained through open trade and exports.

Re: US businesses and consumers pay 90% of tariff costs, New York Fed says

#287

Post by ncruces »

Aloisius wrote: post #278
bobthepanda wrote: post #232

Earlier quoted context omitted.

The problem is that the tariffs are so broad in ways that don’t help US industry; and there are few supply chains wholly within the US so you end up hurting US manufacturing as well. It doesn’t really make sense, for example, that we slapped tariffs on Madagascar, when the primary reason we run a trade deficit with them is that they grow vanilla which cannot be grown in the US.

Several species of vanilla are indigenous to Puerto Rico. Indeed, Puerto Rico used to be the ninth largest vanilla producer in the world. Vanilla will happily grow in parts of Florida and the USVI as well.

So that's the goal?

Onshore vanilla production, now cheaper than Madagascar given the 47% tariff? No wait; the tariff was reduced to 10%, maybe 15? Something.

Re: US businesses and consumers pay 90% of tariff costs, New York Fed says

#288

Post by sejje »

tastyfreeze wrote: post #215
yoyohello13 wrote: post #33

Earlier quoted context omitted.

Those people are generally for higher taxes on the rich. Tariff are a flat tax that dis-proportionally affects the poor.

Every tax ever implemented by government has been initially sold as a tax on the rich. The people voting for it assume they will never be taxed because they aren't currently rich. But, there is never enough of other peoples money to spend. So, taxes expand and/or increase to include more people. The original income tax was sold as 1% on mid income and 2% on high income. At the time more than half the country was not…

More than half the country still doesn't pay any (income) tax.

Re: US businesses and consumers pay 90% of tariff costs, New York Fed says

#289

Post by thoughtstheseus »

meroes wrote: post #179

Drop in quality, increase in prices across the board. Thanks Trump!

Great point. Many Americans would prefer to buy (given) a flying car vs. build a flying car. Personally I believe there is dignity in self determination. To each their own.

Re: US businesses and consumers pay 90% of tariff costs, New York Fed says

#290

Post by asacrowflies »

bettercallsalad wrote: post #199

FT is a globalist mouthpiece. I don’t support tariff but it being used as a negotiating technique is the only choice here to reduce trade deficit. US can’t keep up the trade deficit it currently has. It requires endless fiscal deficit and sell paper money to others that sends their cheap stuff to US. With growing deficit, the interest payment now is soon to be higher than defence budget. Something has to give.

How can you in good faith discuss the deficit and us spending when the current administration has ballooned it more than any president in history. While gutting and burning to the ground American industries and manufacturing....and using reckless unprecedented spending for obvious bribes and corruption for his own families benefit...
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