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Old 05-10-2019, 10:02 AM
 
14,430 posts, read 3,813,664 times
Reputation: 10586

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Quote:
Originally Posted by MJJersey View Post
The Democrats ran Atlantic City into the ground. They refused to acknowledge new competition from PA. All the casinos had massive losses. Many went under.
Hah, I lived there and worked near there. There was zero competition from PA when Trump failed.

"The Trump Taj Mahal, the Atlantic City casino that the real estate mogul built for $1.2 billion in 1990, went for 4 cents on the dollar when it was sold in March"

4 cents on the dollar. That is what the Ameirican people are going to see for their trouble too.....

If you can show us where, in the 1990's, vast Casinos in PA were functioning....well, then you have a fantasy writing machine.....

"Trump opened the $1.2 billion Taj Mahal Casino Resort in Atlantic City in April 1990. One year later, in the summer of 1991, it sought Chapter 11 bankruptcy protection because it was unable to generate enough gambling revenue to cover the massive costs of building the facility, particularly amid a recession."

I'll await your proof of multi-Billion dollar PA Casinos drawing off customers from NYC, NJ and Philly...in 1990.

"Pennsylvania casinos became legal in July 2004, thanks to the state legislature"

Ah, you have the Trump Time Machine inside your head........

Trump is perhaps the biggest Loser in the history of Real Estate. That's a fact. But what he loses is always a drop in the bucket compared to what me forces others to lose.

That is exactly what he is doing to the USA right now. Enjoy it because there is much more to come.

I was there. Right there. Had many friends and family members who worked there, I lived and owned property there - heck, even have a good friend ripped off by Trump for supplies.

Try as you must you cannot defend his record unless you spew as much BS as he does.
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Old 05-10-2019, 10:08 AM
 
11,265 posts, read 5,902,621 times
Reputation: 3527
Quote:
Originally Posted by craigiri View Post
Hah, I lived there and worked near there. There was zero competition from PA when Trump failed.

"The Trump Taj Mahal, the Atlantic City casino that the real estate mogul built for $1.2 billion in 1990, went for 4 cents on the dollar when it was sold in March"

4 cents on the dollar. That is what the Ameirican people are going to see for their trouble too.....

If you can show us where, in the 1990's, vast Casinos in PA were functioning....well, then you have a fantasy writing machine.....

"Trump opened the $1.2 billion Taj Mahal Casino Resort in Atlantic City in April 1990. One year later, in the summer of 1991, it sought Chapter 11 bankruptcy protection because it was unable to generate enough gambling revenue to cover the massive costs of building the facility, particularly amid a recession."

I'll await your proof of multi-Billion dollar PA Casinos drawing off customers from NYC, NJ and Philly...in 1990.

"Pennsylvania casinos became legal in July 2004, thanks to the state legislature"

Ah, you have the Trump Time Machine inside your head........

Trump is perhaps the biggest Loser in the history of Real Estate. That's a fact. But what he loses is always a drop in the bucket compared to what me forces others to lose.

That is exactly what he is doing to the USA right now. Enjoy it because there is much more to come.

I was there. Right there. Had many friends and family members who worked there, I lived and owned property there - heck, even have a good friend ripped off by Trump for supplies.

Try as you must you cannot defend his record unless you spew as much BS as he does.
Foxwoods, in CT, 92-93, you lived in NJ, you know this.
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Old 05-10-2019, 10:09 AM
 
Location: Florida
62,425 posts, read 34,031,492 times
Reputation: 10371
Quote:
Originally Posted by MJJersey View Post
Yes, China is paying. Whether they pass that cost on to consumers is up to them. Either way, they are paying and our companies can be more competitive.
No, China is not paying us. The US companies who import from China, pays the tax to US government, and then pass the cost to the US consumer.
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Old 05-10-2019, 10:18 AM
 
14,430 posts, read 3,813,664 times
Reputation: 10586
Quote:
Originally Posted by t206 View Post
Foxwoods, in CT, 92-93, you lived in NJ, you know this.
Well, sure...I know that.

1. A Casino that opened YEARS AFTER the Bankruptcy - can't have anything to do with it!

2. NO ONE from the burbs of Philly or S. NJ or near Atlantic City went to Foxwoods......

But, I suppose facts aren't in discussion here? Time travel is more the subject......

The only reason I heard of Foxwoods is that I traveled to New England as part of my job...and, still, I never went there.

So - wrong again - Foxwoods had zero to with the Taj Failure.

The Taj failed because there was no market for it in the first place. It was a stupid idea to build...a monument to an ego. A mistake. Just like all the current Trump mistakes of spending too much and going into too much debt.

Very simple. It wasn't Democrats or Native Americans. It was Trump. Only. A terrible investor by any measure (especially lifetime ROI, which is perhaps the most important metric).
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Old 05-10-2019, 10:19 AM
 
Location: Middle of the ocean
31,135 posts, read 19,656,488 times
Reputation: 44909
Quote:
Originally Posted by MJJersey View Post
Yes, China is paying. Whether they pass that cost on to consumers is up to them. Either way, they are paying and our companies can be more competitive.
No. No. No.


Importers (US) pay the tariffs, they either take the loss or pass it on to the buyers (us).
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Old 05-10-2019, 10:24 AM
 
22,547 posts, read 12,087,186 times
Reputation: 7102
Quote:
Originally Posted by MJJersey View Post
Yes, China is paying. Whether they pass that cost on to consumers is up to them. Either way, they are paying and our companies can be more competitive.
You didn't take international economics in high school, university right?

Tariffs are always passed on to consumers.

Historically tariffs provide short term protections (as with Whirlpool) but then the competitors always raise the price to the import price. That means the consumer makes more. As the prices go up, consumer consumption can be driven downwards and so ALL consumption - -including domestic manufacturers --- see a decline.

Tariffs are a cost of production.

If it costs Walmart a dollar more to buy something -- the consumer is going to see that dollar cost in their purchase price.
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Old 05-10-2019, 10:26 AM
 
Location: New Jersey
10,976 posts, read 6,424,878 times
Reputation: 10633
Quote:
Originally Posted by LordBalfor View Post
CHINA doesn't PAY THE COST TO BEGIN WITH, so there's no need for them to "pass the cost on". IMPORTERS pay the cost - NOT THE CHINESE.

What part of that do you not understand?

The Chinese manufacturers do not pay ONE CENT of the tariffs - none, nada, zip. The companies buying the Chinese goods and importing them to the US pay the tariffs - and then the raise the prices to cover their increased costs. So AMERICANS end up paying those costs - NOT THE CHINESE.


Ken
Quote:
Originally Posted by Finn_Jarber View Post
No, China is not paying us. The US companies who import from China, pays the tax to US government, and then pass the cost to the US consumer.
China pays. The importers will require them to reimburse in private contract, or lower cost of goods. If the importer raises the price on consumers then US products will become more competitive and fewer will be ordered from China. Either way, China pays.
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Old 05-10-2019, 10:29 AM
 
22,547 posts, read 12,087,186 times
Reputation: 7102
Quote:
Originally Posted by MJJersey View Post
China pays. The importers will require them to reimburse in private contract, or lower cost of goods. If the importer raises the price on consumers then US products will become more competitive and fewer will be ordered from China. Either way, China pays.
No that's not how it works.

At best China and the US importer will split the cost.

But China is not going to eat the full cost.

You are naive to think that.

Read about the price of washing machines and dryers now that there are huge protective tariffs on imports.

Proof is in the pudding.

You WANT to believe that is what happens -- but it doesn't -- I worked for a company that imported from China -- and they would most likely end up paying the tariff -- or as i said at best splitting the cost of the tariff with the Chinese exporter.

However you look at it -- it didn't work last year 12% increase in deficit with China last year.

ooops.

And we keep saying China -- but it is Chinese business men. You know they maximize their profits just like Americans do.
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Old 05-10-2019, 10:30 AM
 
Location: Kansas City, MISSOURI
8,844 posts, read 2,629,435 times
Reputation: 6767
Quote:
Originally Posted by MJJersey View Post
Yes, China is paying. Whether they pass that cost on to consumers is up to them. Either way, they are paying and our companies can be more competitive.
^
Somebody here has ZERO understanding of how tariffs work. Absolutely none whatsoever. It's really kinda sad. Maybe this will help, though I doubt it ...

Let's say the US imposes a 25% tariff on widgets from China. And let's say a widget from China costs $100.

Some company then imports a widget from China, made by a Chinese company. They pay the Chinese company $100 for the widget. The widget then arrives at the Port of Los Angeles. Because the tariff is imposed by the US government, the importing company then has to pay the US government an additional $25.

Thus, in the end, the importing company will be paying $125 for the widget: $100 went to the Chinese company that made the widget, and $25 to the US government.

Got it? The Chinese government has nothing to do with it. And frankly, neither does the Chinese company that made the widget.

Since the importing company paid $125 for the widget instead of just $100, they will have to to pass that extra $25 cost onto the customers in the US who will be consuming that widget.

It's no wonder Trumplings believe what they believe when you have to explain things like this.
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Old 05-10-2019, 10:32 AM
 
Location: alexandria, VA
9,044 posts, read 4,225,692 times
Reputation: 5101
Quote:
Originally Posted by craigiri View Post
Well, sure...I know that.

1. A Casino that opened YEARS AFTER the Bankruptcy - can't have anything to do with it!

2. NO ONE from the burbs of Philly or S. NJ or near Atlantic City went to Foxwoods......

But, I suppose facts aren't in discussion here? Time travel is more the subject......

The only reason I heard of Foxwoods is that I traveled to New England as part of my job...and, still, I never went there.

So - wrong again - Foxwoods had zero to with the Taj Failure.

The Taj failed because there was no market for it in the first place. It was a stupid idea to build...a monument to an ego. A mistake. Just like all the current Trump mistakes of spending too much and going into too much debt.

Very simple. It wasn't Democrats or Native Americans. It was Trump. Only. A terrible investor by any measure (especially lifetime ROI, which is perhaps the most important metric).
Well, Trump was a successful stock market investor for a short period of time in the 1980s until savvy investors caught on to his "pump and dump" scam. Then when he lost $30 million on a single investment (American Airlines) he decided that stock market investing wasn't for him. But he's a genius I tell ya.

Last edited by r small; 05-10-2019 at 10:42 AM..
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