Comment by Jamesbeam
4 days ago
He better dusts off the good old auto pen.
The man has a lot of cheques to write for the 175 billion he stole illegally from foreign countries.
4 days ago
He better dusts off the good old auto pen.
The man has a lot of cheques to write for the 175 billion he stole illegally from foreign countries.
"stole from foreign countries" is not how tariffs work.
You are not wrong. But you’re also not fully right. I think you don’t see the full scale of the economic tail those tariffs had.
He raised tariffs illegally by 10% for most countries immediately, which triggered a bunch of negative economic effects around the globe in those countries directly tied to the illegal raise of those tariffs by who represents the United States of America.
Damages have to be paid to those countries and their companies.
Because those costs occurred from an illegal action. We do agree that if you do something the highest court has deemed illegal, if it caused damages to any party as direct result of that illegal action, the entity who suffered those damages should be entitled to claim damages, right?
A lot of companies had to deal with the same problems.
You can’t really plan exporting into a country that raises different amounts of tariffs basically over night depending on how his majesty, the king of the free world has slept the night before.
Someone needs to plan with the new realities, workers need to put in more hours, external expertise needs to be hired, all costs have to be evaluated, partners in the US might no longer be able to clear their inventory, new business terms need to be negotiated.
Don’t get me started about the Logistics troubles, but all of the above are costs which wouldn’t occur if the president had gotten legal advise from the Supreme Court about his economic plans before he did something illegal. Right?
So do you follow the law?
If yes, your conclusion needs to be that the president needs to write a lot of Cheques and probably needs the autopen. Because it weren’t only us importers and customers suffering from the presidents illegal action.
Americans pay the tariffs
.gov can write the check back to Americans then, and disband ICE, CBP, the DEA, and the ATF to pay for it.
Better yet, dissolve ICE and DHS and send stimulus checks to folks with what used to be their budget.
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“Stole illegally from foreign countries” ????!!!
American citizens and American importers are not foreigner countries.
Don’t propagate or fall for trumps repeated blatant LIE that foreign countries pay tariffs.
They are direct taxes on Americans and American importers, the exporter does not pay it.
The sad part is that the $175B was already spent because the tariffs didn't generate a budget surplus so we literally just set it on fire and will need to turn on the money printer to give it back to Americans who paid the taxes.
s/tariff/import tax/
What? You mean from American importers and therefore consumers? Foreign countries do not pay tariffs. This lie needs to stop.
You really believe that the incidence of taxation falls 100% on the buyer and never the seller? And you think those who have a more accurate view are "lying"?
Please learn a bit about the incidence of taxation: https://stantcheva.scholars.harvard.edu/sites/g/files/omnuum... The main models supporting your view is where consumer income is exogenous and all firm profits are redistributed to the representative consumer as a lump sum transfer: https://www.ief.es/docs/destacados/publicaciones/revistas/hp...
Please avoid simplistic beliefs and moral outrage for things as complex as trade policy. The people who say that the incidence of taxation falls heavily on sellers may just be better informed, particularly when listening to wall street earnings calls while simultaneously looking at the consumer price data.
https://fred.stlouisfed.org/series/CPIAUCSL
Indeed; it's not 100%. It's actually 96%: https://www.kielinstitut.de/publications/news/americas-own-g...
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