Rightguide
Prof Triggernometry
- Joined
- Feb 7, 2017
- Posts
- 62,206
Three points on tariffs:I don't disagree with your overall conclusion. I do disagree with you on the 1st 3 points. But we can agree to disagree. Without insulting each other. Because we can talk like adults.
I will address 2 of those since you know where I stand on the abortion issue. 1. Tariffs ALWAYS come back to bite the consumer. The companies NEVER pay for a higher tax. The consumer does. Just because it is standard procedure doesn't make it a good idea, and it can undercut Trump's efforts in other fronts. 3. Biden FUNDED Israel, but that's the extent of his support. His admin has supported anti-Israel forces indirectly with words, political pressure, and even financially through indirect means.
It's more correct to say tariffs are a tax on importers who may not import the commodity because of the high tariff. Such a tariff could encourage domestic production which in the end could mean more jobs and better production technology and lower prices. Many products originating overseas are produced with slave labor. A tariff might be employed for moral reasons as well.
Importers for various economic reasons may not pass the costs of tariffs onto the consumer in some scenarios. They could be absorbed to protect market share for instance. Tariffs can also be a useful long term tool from a policy perspective, they can be useful in achieving long-term goals like reducing trade imbalances, protecting domestic industries, or negotiating better trade deals. While short-term price increases may occur, the longer-term benefits of these goals could outweigh the immediate cost to consumers if they are passed along.
Trump has also proposed, yesterday in fact at the NYSE, that he will lower taxes on industry to 15% if they build their products in the US.
One point on Israel funding. Many in the upper levels of the Biden administration went kicking and screaming into funding Israel's war effort. Yes they went along but they dragged their feet all the way.