Trade Wars

[trochetier]

Other countries don't necessarily add tariffs for their imports from US thus raising prices for their own people. Instead they could simply source same/similar products made elsewhere. Buy Airbus instead of Boeing planes, buy French fighters instead of F series. Except for a few very specialized items virtually everything can be found made elsewhere.

 

[trochetier]

Republicans in congress are starting to see the writing on the wall.

>>>Ted Cruz warns of midterm ‘bloodbath’ if Trump tariffs cause a recession . . .

Ted Cruz, the US senator from Texas, has warned that his fellow Republicans risk a “bloodbath” in the 2026 midterm elections if Donald Trump’s “liberation day” tariffs cause a recession.

Cruz also warned that the president’s tariffs, if they stay in place for long and are met by global retaliation on American goods, could trigger a full-blown trade war that “would destroy jobs here at home, and do real damage to the US economy”.<<<

Ted Cruz warns of midterm ‘bloodbath’ if Trump tariffs cause a recession

Texas senator’s comments another sign of Republican unease over ‘reciprocal tariffs’ and stock market plunge

www.theguardian.com

Like see Ted the blow hard gone.

 

[trochetier]

That's what they've said in the past, as I recall. But Social Security is really a pay-as-you scheme depending on taxation.

You might find the following primer about Social Security informative:

The Clean Little Secret of Social Security

It’s a pretty good program, and we can afford it

paulkrugman.substack.com

IMO a part of the SS and Medicare trust funds should be invested in the Total Stock Market fund similar to Thrift Savings C Fund for greater returns. Long term S&P 500 has returned 8.6% it has been up more years than down.

U.S. Stock Market Returns - a history from the 1870s to 2024 | The Measure of a Plan

Facts and figures on U.S. stock market returns from 1871 to 2024. Annual returns, likelihood of losing money, best / worst months, and more.

themeasureofaplan.com

 

[trochetier]

Tariff to fund Tax cuts -

Republicans Like to Cut Taxes. With Tariffs, Trump Is Raising Them.

President Trump’s tariffs are scrambling the Republican plan for the economy, long centered on tax cuts and growth.

www.nytimes.com

 

[highfigh]

And if they want to privatize Social Security, will it be invested in the market?

I'm not sure how they could do that, since it's not money that they provided, it's in a trust and unless 'privatize' means 'admininstrated by private businesses', how would this work?

If they make ANY changes, they need to make sure it can't be raided, wasted or scammed. I don't want ANYONE in admin to make the money corporate heads can in privately held businesses. It needs to be run with an absolute hands off policy.

 

[Dude#1279435]

Tariff to fund Tax cuts -

Republicans Like to Cut Taxes. With Tariffs, Trump Is Raising Them.

President Trump’s tariffs are scrambling the Republican plan for the economy, long centered on tax cuts and growth.

www.nytimes.com

I'd like to know how a tariff funds a tax cut?

>>>“They’ve never had a deduction. Deductions are supposed to be for rich people, and it’s unfair to have that,” Mr. Trump said in the Oval Office recently about his plan. “I think I know more about deductions than any human being on earth.”<<<

I'm guessing Trump knows more about anything than anyone. I'm concerned. I see now recently the headline is a universal 10% tariff with adjustments depending upon the country. So did the math not work out, or is it still these extremely high rates?

 

[Dude#1279435]

Like see Ted the blow hard gone.

I'll give Cruz a wee bit of credit for once saying this.

https://www.cnn.com/2016/05/03/politics/donald-trump-rafael-cruz-indiana/index.html

>>>Ted Cruz on Tuesday unloaded on Donald Trump, accusing him during a news conference of being a “pathological liar,” “utterly amoral,” “a narcissist at a level I don’t think this country’s ever seen” and “a serial philanderer.”<<<

 

[highfigh]

I'd like to know how a tariff funds a tax cut?

>>>“They’ve never had a deduction. Deductions are supposed to be for rich people, and it’s unfair to have that,” Mr. Trump said in the Oval Office recently about his plan. “I think I know more about deductions than any human being on earth.”<<<

I'm guessing Trump knows more about anything than anyone. I'm concerned. I see now recently the headline is a universal 10% tariff with adjustments depending upon the country. So did the math not work out, or is it still these extremely high rates?

The money from tariffs would replace revenue from taxation. In theory.

Deductions are for anyone who wants to look for them and use them. Find out what's available and use them. Someone who goes to an office relatively close to home won't have deductions tied to their job unless they're required to wear specific clothes, use specific items, etc. If someone works in construction or other job that requires tools that aren't provided by the employer, clothing/safety gear and travel to job sites has plenty of deductions in the tax code. That includes insurance for the tools because losing tools/tool theft is far too common to risk that.

If you want deductions, start a small business on the side.

If various countries are imposing new tariffs (including Canada & China, on each other), it would seem that the WTO has work to do. Also, when one country has a billion workers, a history of trade & monetary manipulation and almost no adherence to intellectual property rights, problems are bound to occur.


From the link, "Canada has a quota system for imports, and above a certain volume, it imposes high dairy tariffs ranging from 201.5 percent to 313.5 percent. Before those quotas are met, dairy products enter Canada duty-free or subject to much lower rates."

FACT CHECK: Does Canada Charge A 270% Tariff On US Dairy?

'Our Tariffs are in response to his of 270% on dairy'

checkyourfact.com

 

[Trell]

The money from tariffs would replace revenue from taxation. In theory.

Not even in theory will that work.

 

[Dude#1279435]

Not even in theory will that work.

Just cut taxes LOL.

 

[mtrycrafts]

....


From the link, "Canada has a quota system for imports, and above a certain volume, it imposes high dairy tariffs ranging from 201.5 percent to 313.5 percent. Before those quotas are met, dairy products enter Canada duty-free or subject to much lower rates."

FACT CHECK: Does Canada Charge A 270% Tariff On US Dairy?

'Our Tariffs are in response to his of 270% on dairy'

checkyourfact.com

And how often does that 201% and more kick in? From what I read, almost never.

 

[mtrycrafts]

I'll give Cruz a wee bit of credit for once saying this.

https://www.cnn.com/2016/05/03/politics/donald-trump-rafael-cruz-indiana/index.html

>>>Ted Cruz on Tuesday unloaded on Donald Trump, accusing him during a news conference of being a “pathological liar,” “utterly amoral,” “a narcissist at a level I don’t think this country’s ever seen” and “a serial philanderer.”<<<

Maybe T stopped lying after that day.