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Tariffs ....thoughts?
- Thread starter norscaner
- Start date
To my mind there are 2 types of tariffs.
Type 1 are those that cause policy changes.
Type 2 are those that are simple taxes.
The threatened 25% tariff on Canada and Mexico were the Type 1 tariffs. They cost American consumers nothing and they caused policy changes in the 2 threatened nations.
Trump also added a 10% tariff onto Chinese goods. This will be a direct tax on the price of goods we pay. So that is, to my mind, a Type 2 tariff. Now that said, it could also lead to production shifting a different nation, like Taiwan, Vietnam, Malaysia, etc. If it does that then the consumer is not affected and China is weakened economically while a nation that may actually be friendlier and easier to deal with diplomatically will be strengthened.
And to keep things simple for people like me, I'd have no problem eliminating out entire federal income tax structure and replacing it with tariffs. We used to have no income tax and lots of tariffs. To my mind that just lets us choose to pay taxes on the foreign items we voluntarily choose to buy.
Type 1 are those that cause policy changes.
Type 2 are those that are simple taxes.
The threatened 25% tariff on Canada and Mexico were the Type 1 tariffs. They cost American consumers nothing and they caused policy changes in the 2 threatened nations.
Trump also added a 10% tariff onto Chinese goods. This will be a direct tax on the price of goods we pay. So that is, to my mind, a Type 2 tariff. Now that said, it could also lead to production shifting a different nation, like Taiwan, Vietnam, Malaysia, etc. If it does that then the consumer is not affected and China is weakened economically while a nation that may actually be friendlier and easier to deal with diplomatically will be strengthened.
And to keep things simple for people like me, I'd have no problem eliminating out entire federal income tax structure and replacing it with tariffs. We used to have no income tax and lots of tariffs. To my mind that just lets us choose to pay taxes on the foreign items we voluntarily choose to buy.
FrancSevin
Proudly Deplorable
What he said! The income tax was created by Democrats after the USA Federal government stopped self-funding with Tariffs. Mostly type II. However they were a useful internationally negotiating tool
tommu56
Bronze Member
I personally believe tariff's level the playing field for us workers.
First I want to know where the money is going????????? Whats that movie line "SHOW ME THE MONEY"
My opinion I want a national Sales Tax that way the thugs pimps and cartels' that don't get a W2 still pay their fair share
First I want to know where the money is going????????? Whats that movie line "SHOW ME THE MONEY"
My opinion I want a national Sales Tax that way the thugs pimps and cartels' that don't get a W2 still pay their fair share
I'd also add that CORPORATE TAXES are also just simple taxes that are paid by consumers.
Tax a yacht maker and the price of a big fancy boat goes up, the person who pays for that is the consumer.
Tax a dairy farm and the prices of milk, butter and cheese go up, the many people who pay that tax are the dairy consumers.
Tax a petroleum refiner and the price of gas, diesel and oil goes up, as does plastics and many other items. The people who pay those taxes are the consumers of essentially everything that comes from oil.