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US businesses and consumers pay 90% of tariff costs, New York Fed says
41–50 of 339 posts
Re: US businesses and consumers pay 90% of tariff costs, New York Fed says
#42Re: US businesses and consumers pay 90% of tariff costs, New York Fed says
#43Tariffs 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
Re: US businesses and consumers pay 90% of tariff costs, New York Fed says
#44I 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?
FedEx has always charged a brokerage fee, that is and has always been ridiculous. The brokerage fee in some cases exceeds the actual taxes and duties.
That is to say there is no 200% tariff on cups.
[1] - https://www.fedex.com/en-us/ancillary-clearance-service.html
Re: US businesses and consumers pay 90% of tariff costs, New York Fed says
#45Earlier quoted context omitted.
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.
Yes, but people have to have a modicum of awareness of how things work, even though the administration is lying.
Re: US businesses and consumers pay 90% of tariff costs, New York Fed says
#46Everyone 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…
>There is a reason you will find tariffs drop off after the great depression.
Alternatively: You don't need tariffs when you're the only industrial nation not bombed into oblivion.
>They make everything more expensive for businesses and in turn, the end consumer.
Agreed
Re: US businesses and consumers pay 90% of tariff costs, New York Fed says
#47The 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…
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Re: US businesses and consumers pay 90% of tariff costs, New York Fed says
#48There is only a debate on this topic because propaganda works. It's a regressive tax, which disproportionately hits consumers.
Exactly, it is regressive. Lower income spends higher proportion of income, therefore higher percent of income is hit by tariffs.
Re: US businesses and consumers pay 90% of tariff costs, New York Fed says
#49Everyone 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…
Most people here in the US that I talk to understand that the additional tariffs imposed by the Trump administration are an attempt to get domestic US industries to produce the items that are now being imported subject to the tariff. In some cases that has been successful. In many cases not. Many industries are virtually impossible to de-globalize.
Re: US businesses and consumers pay 90% of tariff costs, New York Fed says
#50Congratulations Trump fans --- you voted for a big new tax --- on yourself. Stupid is as stupid does.
The different between taxes (you -must- pay (unless X loopholes applies to you)) whereas tariffs are voluntary and even more so then sales tax. You may chose not to buy any products or goods that requires you to pay tariffs. Which is the primarily goal to begin with. Influence consumer behaviour. I realize that for some products and goods there may not be a an alternative choice of products or goods that do have tari…
Industrial jobs are down since tariffs went in