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Something that isn't mentioned much is that a lot of our economy is limping along based on wealth generated by past generations. Now that I am older I heard of a LOT of friends and relative inheriting money. Nothing really big (well, some is in the millions, but most smaller), but in any case money from parents and grandma and childless siblings is helping people survive.
ALL of that is likely going away as current generations don't have those nice pensions and stock gains and other wealth. They live paycheck to paycheck.
What I am saying is that things may be worse than they seem....being propped up by inheritances and national debt and deficit.
People said they liked Trump because he say what he thinks. But what he thinks is neither correct, honest nor actionable. I guess these same people would elect me POTUS if I stood by the sidewalk and graded every young woman from 1 to 10 - after all, I'd be "saying just what I think"....Trumpies love honesty, even when it's uncivilized and wrongheaded.
Trump could tell them they were fools and they would love him for being truthful.
You bring up a good point.
When that generational wealth disappears, things are going to be even worse in this country.
First world prices for housing, medical, and food while we descend to third world wages.
Nope, the math is not going to work.
If business wants to pay third world wages, then housing and rent prices need to drop to third world prices.
Medical prices need to drop to third world prices.
The banksters and house flippers do not want to take a paycut.
The medical industry does not want to take a paycut either.
The Banks and Medical Industry are the VERY TOP TWO industries that spend the most on purchasing politicians.
It would seem to me that domestic companies who also export their products could be more affected by a tariff war than global companies who can just shift their export production from the U.S. to their subsidiaries in other countries to avoid retaliatory tariffs.
We need tariffs against all countries then so that they cannot find a loophole.
The majority of countries already have tariffs against all other countries for years.
We also spend trillions a year on "defense spending" to protect foreign waterways and trade routes in order to protect the interests of global corporations.
The same global corporations pay less taxes than most American Workers.
That needs to stop now.
They need to be sent the bill for their defense costs.
Some say, they will pass the cost to the consumer, but that gives domestic business an advantage that does not have to pay those costs.
Global Corporations should have a 75% tax on them.
They care not for any country and I care not if they go bankrupt.
We also spend trillions a year on "defense spending" to protect foreign waterways and trade routes in order to protect the interests of global corporations.
.
Considering the entire budget of the "Security State" is about a trillion....and includes many things that we all want and need (Vets, TSA, some other Homeland Security, maintaining deterrents, etc.) - its impossible that we spend Trillions to protect such routes.
It's true that tariffs are collected all over the world. The US Charges them also. I paid 4% in 1990 on stuff I imported from Denmark.
Example:
for train carriages:
the US imposes a 14% duty on imports
the EU charges only 1.7% on imports from the US
I would hope most Americans are educated enough to know that we pay and charge tariffs on most everything.
Originally Posted by cdnirene
It would seem to me that domestic companies who also export their products could be more affected by a tariff war than global companies who can just shift their export production from the U.S. to their subsidiaries in other countries to avoid retaliatory tariffs.
We need tariffs against all countries then so that they cannot find a loophole.
The majority of countries already have tariffs against all other countries for years.
I don’t think you understand tariffs.
A company producing product in a foreign country and shipping that product to China is not subject to U.S. tariffs. Whether they are subject to any tariffs is up to the Chinese.
President Trump is justified to wage a trade war against China because Beijing hasn't kept up to its promise.
For example, during the accession of China into WTO in 2000, Beijing promised to expand its import quota of foreign films to 50 in 3 years time.
So how many foreign movies does China allow to show in its theaters annually? 34.
After 18 years, it still hasn't honored its promise. In fact, a lot of promises in opening China's market that Beijing agreed in 2000 have never been implemented.
President Trump is justified to wage a trade war against China because Beijing hasn't kept up to its promise.
For example, during the accession of China into WTO in 2000, Beijing promised to expand its import quota of foreign films to 50 in 3 years time.
So how many foreign movies does China allow to show in its theaters annually? 34.
After 18 years, it still hasn't honored its promise. In fact, a lot of promises in opening China's market that Beijing agreed in 2000 have never been implemented.
Perhaps he could be more strategic, specific and effective.
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I don’t think you understand tariffs.
