Quote:
Originally Posted by RedFred
The DOW has been stagnant for 7 months, wages are lower than a year ago, gas prices are 30% higher than a year ago, the GDP was only at 2% the first quarter. In what right wing bubble is this one of the best economies ever?
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you forgot the tariffs - maybe because you canīt see the impact right now.
the tariffs will make you life A LOT more expensive and it will cost jobs. unemployment has been rising again for several weeks now and the number of initial applications for unemployment assistance is higher than the number of newly created jobs.
but letīs have a look at the tariffs.
tariffs are nothing else then taxes because a buyer in US have to pay this tariffs additionally to what he pays for the imported good.
trump's tax reform has led to a shortfall in the state's annual revenue of around $600 billion.
so far, however, these taxes have mainly been paid by companies.
trump is talking about a volume of almost a trillion dollars which are treated with an average of 25% additional duty.
for companies, however, the profit mark-up on the purchase prices applies.
let's just assume that this surcharge is 100% (in practice it's more) then we're already talking about 500 billion in additional tax income for the goods being sold in the usa ONLY through the customs surcharge.
these 500 billion are not paid by the companies but by the customers who buy the goods. in other words: trump gabs the rich and now takes it away from ordinary citizens.
as the lives of americans are becoming more expensive, they will probably have to do without some things. this means that some goods are sold less and that costs jobs.
moreover, export goods are becoming more expensive, not only because of the more expensive purchase of raw materials, but also because of the counter-duties of the countries with which trump is currently fight his funny war. here, therefore, DOUBLE customs duties will have to be paid. these goods are no longer competitive on the world market and jobs will be lost.
you can turn this issue around and around and you will not find even ONE logic point or sign of knowledge in economies.
but i really doubt that trump supporter will realize that it is their fault when america lays down. they will never see the reason in the circumstance that they gave all power to an idiot and liar. and then you will have YOUR SYRIA there.