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Old 06-27-2018, 07:33 AM
 
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No in fact it will be a net loss for us and we’ll be paying more foreign tariffs than incremental taxable net income.
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Old 06-27-2018, 12:51 PM
 
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I wonder if hes trying to destroy dollar hegemony at this point~
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Old 06-27-2018, 08:04 PM
 
Location: Myrtle Creek, Oregon
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Quote:
Originally Posted by SWFL_Native View Post
No in fact it will be a net loss for us and well be paying more foreign tariffs than incremental taxable net income.
What is your reasoning on this? It seems to me that taxable net income is going down with the increased exemption. Tariffs are not seen as a tax on the consumer level, they are just rolled into the price you pay.

Who is the "us" you are talking about? Are you talking about consumers? The next generation of taxpayers? Small manufacturers who service a US market? Apple shareholders?

Everyone gets to be an "us," and their interests don't necessarily coincide.
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Old 06-27-2018, 08:35 PM
 
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If it actually happens, I think the most likely outcome is we plunge into a deep recession where the economic toolbox is already empty. Interest rates are already very low so cutting them won’t do anything. The deficit is already enormous from the tax cut for wealthy people so there’s no room for fiscal stimulus without turning the US into Greece.

Personally, I think it’s brinksmanship and tariffs won’t actually happen. The stock market seems to be pricing it that way. The Republicans can’t risk a stock market collapse before the election.
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Old 06-28-2018, 04:15 PM
Status: "Career Changer" (set 1 day ago)
 
1,020 posts, read 290,055 times
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Originally Posted by jetgraphics View Post
Pursuant to Title 12 USC Sec. 411, the only way to authorize new dollars bills is for Congress to go deeper into debt.
https://www.law.cornell.edu/uscode/text/12/411

Pay attention to when this section was enacted. 1913 then revised in 1934, and 1935.

"Lawful money" at the time was gold/silver and then silver. That standard is gone.

The part that says "The said notes shall be obligations of the United States" was because FRN's at the time were IOU's payable in gold or silver at the time. That's the debt part. That no longer is the case.

Since we are no longer on a gold or silver standard, FRN's are not IOUs in any sense of the word since there is no way to redeem them for "lawful money" - so how does the government go into a debt that can never be paid? Not happening.

The law is outdated and does not reflect fiat money reality.
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Old 06-29-2018, 08:34 AM
 
Location: Boston
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these tariffs are a drop in the bucket to our economy
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Old 06-29-2018, 09:54 AM
 
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Not if tariffs trigger a trade war and bring a recession, then economy and tax revenue will be smaller.
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Old 06-29-2018, 04:58 PM
 
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Originally Posted by 6oo9 View Post
Not if tariffs trigger a trade war and bring a recession, then economy and tax revenue will be smaller.
I think you're wrong about the affect on our economy in a global trade war environment. I think capital would FLOOD into the US and the dollar as a safe haven. We're already the most productive country in the west so a slight loss in productivity is no big deal. It will certainly hurts other countries more. I trust Trump's negotiating skills here, I'm positive that he can go back to the way trade was handled before at any time, he has by far the most leverage here.
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Old 07-02-2018, 10:18 AM
 
Location: Silicon Valley
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Germany is all grins at this point.
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Old 07-02-2018, 05:51 PM
 
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OP, the US budget is more complicated than "tariffs mean more revenue."

Case in point. The trade war will mean foreign countries will go after US farmers. Now, the US government has to spend even MORE money to offset the trade war. That's a net loss.

Trump Administration Considering 'Tariff Payments' to Farmers

All that talk about steel and steel jobs...not going to happen.
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