The trade and economy mega-thread (2 Viewers)

Thread Attachment browser

Users who are viewing this thread

    Total: 3 (members: 0, guests: 3)
    superchuck500

    superchuck500

    U.S. Blues
    Joined
    Mar 26, 2019
    Messages
    6,028
    Reaction score
    15,253
    Location
    Charleston, SC
    Offline
    Is there a trade deal with China? Is it really a deal or just a pull-back to status quo ante? Is Trump advancing US interests in this well-executed trade battle plan or was this poorly conceived from the start . . . and harmful?

    I think the jury's still out, but I haven't seen that the Chinese are offering much in compromise - and it's not even clear if there's going to be an agreement. But it's clear they are working on something and I'm sure Trump will sell it as the greatest trade deal ever. The proof will be in the details.


     
    Neworleansfan said:
    If a flat tax rate is set at 20%, a family making 50,000 will pay 10,000. A family making 500,000 will pay 100,000.
    With tariffs, if a family making 50,000 is paying an extra 10,000, that is 20% of their income. A family making 500,000 and paying 10,000 will only use 2% of their income.
    Click to expand...

    Only if it's actually flat. You'll have to remove all of the deductions and credits that substantially lowers the effective rates. The rich will never allow that to happen.

    And how do you figure a family making $500k will only pay $10k due to tariffs? They pay however much based on how much they spend on goods, no?
     
    DaveXA said:
    And how do you figure a family making $500k will only pay $10k due to tariffs? They pay however much based on how much they spend on goods, no?
    Click to expand...
    I am not saying that they will only pay $10,000. If both families spend on the same goods and services (foods, utilities, insurance, transportation), then one family has to use 20% of their income while the other only uses 2%. The family making $500k will pay more only if they spend more. The problem is the other family can’t afford to spend more because of the tax burden. Hence, the widening wealth gap.
     
    MT15 said:
    Yeah, I don’t think I will ever understand why he turned on Canada so hard. I mean, Mexico I get the motivation. But Canada? Who we do need to buy things from, no matter what the idiot says.
    Click to expand...
     

    Attachments

    • melania-trudeau.jpeg
      melania-trudeau.jpeg
      138.4 KB · Views: 23
    Neworleansfan said:
    I am not saying that they will only pay $10,000. If both families spend on the same goods and services (foods, utilities, insurance, transportation), then one family has to use 20% of their income while the other only uses 2%. The family making $500k will pay more only if they spend more. The problem is the other family can’t afford to spend more because of the tax burden. Hence, the widening wealth gap.
    Click to expand...

    Sure, but the wealthier family is certainly going to spend more of their income on goods than the lower income family. Maybe not 20% level, but it's closer to that than 2%.

    That said, both the tariffs and flat taxes are regressive for slightly different reasons.
     
    Sendai said:
    “

    The Second Industrial Revolution, 1870-1914”​


    ushistoryscene.com

    The Second Industrial Revolution, 1870-1914

    Between 1820 and1860, the United States was transformed by unprecedented urbanization and territorial expansion, fueling the Second Industrial Revolution.
    ushistoryscene.com ushistoryscene.com

    The Second Industrial Revolution, 1870-1914 - US History Scene

    The Second Industrial Revolution, which took place from 1870 to 1914, was a period of rapid technological and industrial growth. This era saw the development of new machines, production methods, and energy sources.

    Inventions

    • Electric light bulb: Invented by Thomas Edison in 1882
    • Telephone: Patented by Alexander Graham Bell and Elisha Gray in 1876
    • Internal combustion engine: Invented in 1886, this engine powered the first automobiles and airplanes
    • Typewriter: Invented in 1867
    • Phonograph: Patented in 1887 by Emile Berliner
    • Radio: Invented in 1895
    • Aspirin: Invented in 1899

    New technologies

    • Steel: The Bessemer and open-hearth processes revolutionized steel production
    • Electricity: The electric generator replaced steam and water-powered engines
    • Mechanized farm equipment: Transformed agriculture into a big industry

    New forms of transportation

    • Railroads: Allowed for cheap transportation of materials and products
    • Automobiles: The internal combustion engine made automobiles possible
    • Airplanes: The Wright brothers made the first airplane flight in 1903

    New forms of communication

    • Telegraphs: Circulated new ideas
    • Newspapers: Circulated new ideas
    • Radios: Circulated new ideas
    The second Industrial Revolution was foundational.
    Click to expand...
    This whole concept is a silly distraction.

    Things since 1914... modern aviation, aluminum alloys, superalloys, composites, advanced rubbers, modern military, nuclear power, space flight, computers, microchips, satellites.

    But more importantly we saw the most implementation of technology in the mid 1900s.

    Modernizing our military (tanks, fighter jets, carriers, subs), building the interstate highways, electrifying the nation, airports/aviation, public education...just to name a few. Thanks income tax, sales tax, and business taxes.
     
    wardorican said:
    This whole concept is a silly distraction.

    Things since 1914... modern aviation, aluminum alloys, superalloys, composites, advanced rubbers, modern military, nuclear power, space flight, computers, microchips, satellites.

    But more importantly we saw the most implementation of technology in the mid 1900s.

    Modernizing our military (tanks, fighter jets, carriers, subs), building the interstate highways, electrifying the nation, airports/aviation, public education...just to name a few. Thanks income tax, sales tax, and business taxes.
    Click to expand...

    Nice to see you around more Ward
     
    wardorican said:
    This whole concept is a silly distraction.

    Things since 1914... modern aviation, aluminum alloys, superalloys, composites, advanced rubbers, modern military, nuclear power, space flight, computers, microchips, satellites.

    But more importantly we saw the most implementation of technology in the mid 1900s.

    Modernizing our military (tanks, fighter jets, carriers, subs), building the interstate highways, electrifying the nation, airports/aviation, public education...just to name a few. Thanks income tax, sales tax, and business taxes.
    Click to expand...
    Heinlein wrote that you railroad when it comes time to railroad. Technology builds upon existing technology. The concept of separate “industrial revolutions” is flawed. Technology grows as it will driven by humans.

    Trump and his ilk are basically technocratic luddites. Technology must be contained for use by the superiorae. Thus they utilize technology to control the inferiorae. And they must continue to develop and implement technology to overcome any advances made outside of their control.

    Postman, Huxley and Orwell were all correct. The implementation of bread-and-circuses carried to extreme allows for state and extra-state control.

    The beast has taken residence in Bethlehem.
     
    Neworleansfan said:
    Trump and Trudeau are speaking today. The stock market is reacting like something is happening. Don’t be surprised if Trump brags about a new deal on his social media site.
    I hate this dude.
    Click to expand...

    Mexico already announced that Trump agreed to delay the tariffs for a month.
     
    superchuck500 said:
    Mexico already announced that Trump agreed to delay the tariffs for a month.
    Click to expand...
    I mean seriously, it's WINTER. This is when we rely most heavily on fruits, veggies, and other agricultural products from Mexico, Central and South America.

    But, I think he just did this to get some concessions on the border and how either country can stop Fentanyl from getting into the US. While a worthy idea, it's probably a bit of a goose chase.
     
    finance.yahoo.com

    Trump: Fed's interest rate pause was 'the right thing to do'

    Donald Trump said Sunday the Federal Reserve was right to keep interest rates unchanged, a new comment that comes as Fed watchers gauge the effect the president's new tariff plans will have on monetary policy.
    finance.yahoo.com finance.yahoo.com

    "Lower Rates!"

    Fed doesn't lower rates.

    "Yeah, that's probably the right call"
     
    wardorican said:
    I mean seriously, it's WINTER. This is when we rely most heavily on fruits, veggies, and other agricultural products from Mexico, Central and South America.

    But, I think he just did this to get some concessions on the border and how either country can stop Fentanyl from getting into the US. While a worthy idea, it's probably a bit of a goose chase.
    Click to expand...

    Not that anybody cares because Democrats are "bad on the border" :rolleyes: , but Fentanyl deaths, overdoses and trafficking are all down due to the efforts of the Biden administration. This action by Trump will surely be detrimental those gains.

    ============
    State and federal data also shows the crisis was improving at an unprecedented pace before these tariffs were announced. Fatal overdoses from fentanyl and all other street drugs have plummeted nationally by more than 21% since June 2023, according to the latest data from the Centers for Disease Control and Prevention, falling below 90,000 deaths in a 12-month period for the first time in roughly half a decade.

    .......

    What role does China play in the U.S. fentanyl supply?​

    Law enforcement agencies and government officials in the U.S. agree most of the so-called precursor chemicals used to make street fentanyl flow from industrial companies in China to drug gangs in Mexico. For years, China's government infuriated U.S. officials by resisting efforts to target and disrupt this supply chain.

    Under pressure from the Biden administration, however, Chinese officials implemented new regulations last year, helped crack down on money laundering by drug organizations and made some arrests.

    By October 2024, a growing number of U.S. officials and experts on fentanyl smuggling told NPR these measures were finally squeezing the pipeline of fentanyl reaching American streets, making the drug harder to find.

    In a statement, China's foreign ministry said U.S. tariffs scheduled to go into effect on Tuesday will undermine cooperation against drug trafficking.
    ===========

     

    Create an account or login to comment

    You must be a member in order to leave a comment

    Create account

    Create an account on our community. It's easy!

    Register

    Log in

    Already have an account? Log in here.

    Share this page

    General News Feed

    Fact Checkers News Feed

    Back
    Top Bottom