Posted on May 14, 2019
Joe: This Is A $200B Tax Increase On Americans | Morning Joe | MSNBC
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Taxes
Donald Trump
China
Mexico
Posted >1 y ago
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Might be a wake-up call. China has a lock on so much we buy. Do we really want to be so dependant on China ?
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LTC Eugene Chu
We as American society are partly to blame. China does have a lock on how much we buy, but low costs and desire for corporate stock performance are incentives to not manufacture here.
https://www.forbes.com/sites/timworstall/2016/08/12/china-trade-and-jobs-its-not-the-greed-of-the-corporations-but-of-the-consumers/
https://www.forbes.com/sites/timworstall/2016/08/12/china-trade-and-jobs-its-not-the-greed-of-the-corporations-but-of-the-consumers/
China, Trade And Jobs - It's Not The Greed Of The Corporations But Of The Consumers
The Wall Street Journal has an interesting piece looking at the impact of China's emergence as a major trading nation upon the United States. They concentrate upon the furniture industry - as that's one that was very hard hit by the change. The background here being that transport had been [...]
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Trump Plays Tough Guy With China
With China, Donald Trump is no longer Mr. Nice Guy. Also, he's no longer Mr. Understands How Tariffs Work. Subscribe To "The Late Show" Channel HERE: http://...
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Time to inform MSNBC: Tariffs are not taxes. Just because both are bad, and both represent deviations from free market forces, does not make them the same. Tariffs are artificial manipulations of free trade and affect the trade balance by adjusting the competitive level at which nations can produce goods for sale on the international market. China has been using tariffs as a means to advance its own production of goods for decades, and US industry has suffered as a result. Trade balance is just one of the 4 traditional metrics of a nation's macro economy, (along with GDP growth rate, employment rate, and inflation rate). Taxes are transfers of wealth from producers of value internal to a nation directly to the government. Taxes do not affect trade balances directly. Taxes directly reduce available capital, which harms businesses' ability to invest in infrastructure and individuals' ability to purchase goods and services...leading to lower GDP growth rates.
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