Anyone splurging with tariffs bringing in the billions?

while you're entitled to your opinion, such as it is,
you can't manufacture your own facts.

During the 1980s the mfg of memory chips shifted to Japan,
and then in the 1990s to Korea. ​

 

Tax-and-spend advocates seem to really like income taxes that are forced on everyone and that are in some ways inescapable. Seems to me if someone doesn't like tariffs (by which I mean strong, principled disapproval that goes beyond mere annoyance at high prices), one could simply opt out of buying the imported products that are being taxed, no? Isn't there more of a choice when it comes to tax avoidance when comparing income taxes to tariffs?

 

So funny and typical. @strosb4bros puts up a long post about policy and wealth gap. And you come running along with … yeah! What he said! Liberals are such dummies!

Not that I agree with strosb4bros, but at least he posts about policy and issues and is having a discussion about them. You are the halfwit jumping up and down behind him.

 

sort of related to the point I was trying to express. But as the author says, there don't appear to be any careful studies on the question out there

https://financialpost.com/opinion/tariffs-trump-income-taxes-gst-beats-both

Jack Mintz: Tariffs may trump income taxes but the GST beats both
U.S. tariffs are low and income taxes high so raising revenue with tariffs may make economic sense. A U.S. GST would make even more
By Jack M. Mintz
Published Jul 31, 2025

Donald Trump’s just-passed One Big Beautiful Bill Act keeps corporate and personal income taxes low, which is good for U.S. competitiveness. But it also produces higher deficits: US$3.4 trillion higher over 10 years, the Congressional Budget Office (CBO) estimates. Republicans argue that tariffs, which were not included by the CBO since they were not part of the bill, substantially fill the gap. The Yale Lab’s July 23rd estimate of new tariff revenues, based on current policy, is US$2.5 trillion for 2026-35, which suggests the tariffs do go a long way toward closing the fiscal gap.

The Democrats prefer personal income and corporate taxes to reduce deficits. The Biden administration’s Budget 2025 proposals would have raised federal taxes by US$3.4 trillion over 10 years. The federal corporate income tax rate would have risen from 21 to 28 per cent, the corporate minimum tax from 15 to 21 per cent and the top personal income tax rate from 37 to 39.6 per cent. The tax on long-term capital gains over $1 million would have climbed from 20 per cent to full inclusion.

So, which is better: higher income taxes or higher tariffs?

Higher income taxes increase the cost of investment and discourage work, entrepreneurship and risk-taking. CBO estimates the economic cost of corporate taxation is US$1-$1.50 on top of each dollar raised. That burden falls on workers who get lower wages or are laid off, consumers who pay higher prices for products and owners who earn less capital income. Who pays exactly what share is hard to say but some U.S studies conclude labour bears at least half the corporate tax burden and consumers another quarter.

Income taxes also affect trade. Income from exports is taxed while imports enter free from U.S. taxation. Capital inflows to produce U.S. products are taxed, too. This tax on exports and foreign direct investment may widen the trade deficit, erode U.S. competitiveness and even cause the dollar to fall.

And tariffs? Those on finished-goods imports distort consumer choices in favour of domestic goods, while those on intermediate goods like steel and aluminum and capital goods add to production costs. Tariffs can be shifted “forward” in the form of higher consumer prices or “backward” onto foreign producers, who may have to take a lower landed price for their goods. A large country like the U.S. probably can shift some of the burden backward onto foreigners. So far, the Trump tariffs seem to have had little effect on U.S. consumer prices, though it’s expected at least half the burden will ultimately be shifted forward to consumers.

Tariffs also encourage companies to shift production to the protected U.S. market from their home country. For example, after paying 1.4 billion euros in U.S. tariffs, Volkswagen announced this week it would like to shift more auto production to the U.S.

Bottom line, which is worse, tariffs or income taxes? The effective U.S. tariff was two per cent in 2024. The U.S. corporate income tax rate is currently 21 per cent. Would a baseline tariff at 10 or 15 per cent hurt the U.S. economy more than raising the corporate tax to 28 per cent? I hate to punt but answering that question requires a careful empirical assessment and I haven’t seen one yet.

How about Canada? If we wanted more revenue, would it be better to raise tariffs or corporate income taxes? The U.S. accounts for a quarter of world GDP, Canada just two per cent. We’re likely less able to shift the tariff burden onto foreigners. And at the rate we’ve been losing capital to other countries raising capital income taxes is a particularly bad idea right now.

But we have an option the U.S. doesn’t: increase the GST/HST. It’s levied on the consumption of domestic and imported products and exempts exports (because we don’t consume them). Whether we raise or lower taxes outright — and I’d like to see both spending and taxes lower — we badly need to improve our competitiveness by rebalancing our tax system and reducing our overreliance on income taxes in favour of a higher consumption tax. Tariffs clearly would have a higher economic cost than a VAT applied at current Canadian levels or a little higher.

Putting more weight on consumption taxes could help us create the more competitive economy we so badly need. Even after Trump’s time in office is over his tariffs may linger on. Whoever succeeds him will need them in order to cover the government’s massive deficits. But that doesn’t mean Canada needs tariffs. Our national consumption tax is a much more efficient way to raise revenue.



​

 

You are literally pushing for a tax with tariffs.....

And the result of Trump's tax and spending plan is a significant amount debt...... Try again.

Nothing came about with TSMC until the CHIP Act as an agreement doesn't mean much. We remember Trump and Foxconn..... talk is cheap and Trump is cheap...

Foxconn mostly abandons $10 billion Wisconsin project touted by Trump

No they are the tip of the spear for Trump solutions and it incentivizes domestic production by making things cost higher. Your plan is to make consumers pay more until domestic production ramps up.... which will cost higher than when we started. When goods are higher cost, do people buy more goods?

No.... it's just that this has been done before so we know how the movie ends.

Remember Trump campaigned on lowering prices..... and saying China will pay for the tariffs.... So you clearly know that was a lie based on your comments admitting tariffs will raise prices. You think Americans are just going to accept that lie? Especially when inflation and higher prices were a major campaign issue?

Ooof.......

Nucor broke ground on their $3.1 billion W. Virginia plant in 2023..... Who was president in 2023?

https://www.manufacturingdive.com/n...eel-mill-in-apple-grove-west-virginia/697588/

You're cute, try again.

 

I'm curious how they came up with these numbers. The wealthiest people make their money in long term capital gains which tops out at 20 percent. They don't pay social security tax on anything above 176K. So where are these other taxes coming from.

Warren Buffet stated his effective tax rate rate was 17.7 percent at on point not too long ago.

 

Lol…

More trickle down…. That has a track record….

You hear about Trump’s tariffs checks….?! Bahahahaa

 

What the hell chu talkin’ bout Willis. That Kona rides much quieter than my 80K Lexus. Hyundai has plants in Alabama and Georgia doofus. I have the cash, I can buy whatever the hell that I want to buy. Don’t need any of your looney liberal clowns’ approval.

 

@Space Ghost
@basso
@Salvy
I got all the stocks the woke people hate like Palantir and Tesla
Yes I bought the dip breh @Rocketeer
I know the ancient rules of the masters
Buy low
Sell high

 

Ain’t this the Epstein List?