Hang 10... or as they now say...hit the lip!

2nd Light Forums
Decrease font size
Increase font size
Topic Title: The media is lying to you about Trump's China tariffs
Topic Summary:
Created On: 08/24/2019 04:02 AM
Linear : Threading : Single : Branch
1 2 Next Last unread
Topic Tools Topic Tools
View topic in raw text format. Print this topic.
 08/24/2019 04:02 AM
User is offline View Users Profile Print this message


Fish Killer

Posts: 43485
Joined Forum: 10/09/2005

The media is lying to you about Trump's China tariffs

By Brett Arends
Published: May 15, 2019

The hysteria must have a political agenda because the amount that's being charged is peanuts

Are you kidding me?
I'm used to partisan, inaccurate drivel from all sides these days, but the media's coverage of President Trump's tariffs and the so-called "trade war" takes some kind of cake.

There's no serious doubt that some in the media would absolutely love to tank the stock market. They figure that would hurt Trump's re-election chances in 2020. Monday's stock market slump, which saw the Dow Jones Industrial Average DJIA, -2.37% tumble 2.4% and the Nasdaq Composite 3.4%, looked just like what the doctor ordered.

I write this, incidentally, as someone who is no fan of the president. But I remember when politics was supposed to stop at the water's edge.

And, anyway, facts are facts. Most of what the public is being told about these tariffs is either misleading or a downright lie.
I've been following the coverage all weekend with my jaw on the floor.


It wasn't long ago the media was complaining because Trump was cutting taxes. Now it's complaining that he's raising them. Confused? Me too.

Uncle Sam benefits
Yes, tariffs are "costs." But they do not somehow destroy our money. They do not take our hard-earned dollars and burn them in a big pile. Tariffs are simply federal taxes. That's it. The extra costs paid by importers, and consumers, goes to Uncle Sam, to distribute as he sees fit, including, for example, on Obamacare subsidies.

It wasn't long ago the media was complaining because Trump was cutting taxes. Now it's complaining he's raising them. Confused? Me too.

And the amounts involved are trivial. Chicken feed.
President Trump just hiked tariffs from 10% to 25% on about $200 billion in Chinese imports. In other words, he just raised taxes by ... $30 billion a year.
Oh, no!

The total amount we all paid in taxes last year - federal, state and local - was $5.51 trillion. This tax increase that has everyone's panties in a twist is a rounding error.

Investors panic needlessly
Meanwhile, the total value wiped off U.S. stocks during Monday's panic was about $700 billion. More than 20 years' worth of the new tariffs.

Even if Trump slapped 25% taxes on all Chinese imports, it would come to a tax hike of ... $135 billion a year. U.S. gross domestic product (GDP) last year: $20.5 trillion.
So even this supposedly scary "escalation" of this "tariff war" would, er, raise our total tax bill from 26.9% of GDP all the way to 27.5% of GDP.

Oh, and isn't it interesting to see some people's priorities? Apparently the most shocking part of this trivial tax hike is that it might raise the price of new Apple AAPL, -4.62% iPhones.
Last I checked, these were luxury items, right?

U.S. consumers gain
Meanwhile, the trade spat seems to be bringing down food prices. China is going to take less of our farm products. So wheat prices are down 20% since the start of the year. Soybeans are at 10-year lows.
Good for consumers, right?

No, no, of course not! Silly you. This is also bad news ... for farmers!
And all this ignores the much bigger picture, anyway.
The tariffs are simply a means to an end. The president is trying to get China to start buying more of our stuff. He knows the so-called Middle Kingdom, which now has the second-biggest economy in the world, responds to incentives more than to nice words. These tariffs give China an incentive to open up.

OK, so China's first reaction is just to retaliate. Big deal. That's just posturing.

Right now we export less to China than we do to Japan, South Korea and Singapore put together. That's the point. So the effect of China's new tariffs on the U.S. are yet another rounding error. Even if China banned all imports from the U.S., that would amount to only 0.6% of our gross domestic product. And we'd sell the stuff somewhere else.

Don't buy the hysteria. President Trump is simply trying to pressure our biggest competitor to buy more American goods. That should be a good thing, even if you don't like him.

-------------------------
 08/24/2019 05:46 AM
User is offline View Users Profile Print this message


Fish Killer

Posts: 43485
Joined Forum: 10/09/2005

"Even if Trump slapped 25% taxes on all Chinese imports, it would come to a tax hike of ... $135 billion a year. U.S. gross domestic product (GDP) last year: $20.5 trillion.
So even this supposedly scary "escalation" of this "tariff war" would, er, raise our total tax bill from 26.9% of GDP all the way to 27.5% of GDP."

CRICKETS!

-------------------------
 08/24/2019 09:17 AM
User is offline View Users Profile Print this message


Greensleeves

Posts: 11985
Joined Forum: 07/22/2003

Again with the older article.

From the article: "I write this, incidentally, as someone who is no fan of the president. But I remember when politics was supposed to stop at the water's edge."

Gosh I hate right wing writing.

-------------------------
 08/24/2019 10:01 AM
User is offline View Users Profile Print this message


gdudewe

Posts: 3659
Joined Forum: 11/09/2011

What are you doing dipshit? Cleaning you spam?

-------------------------
I distrust those people who know so well what God wants them to do, because I noticed it always coincides with their own desires

Susan B. Anthony
1896

Impeach Trump
 08/24/2019 10:01 AM
User is offline View Users Profile Print this message


Cole

Posts: 40769
Joined Forum: 07/22/2003

Got a problem, talk to Wall Street, they are the one voicing concern.

And I agree Greenie, this, "But I remember when politics was supposed to stop at the water's edge," is the lie of the day.
 08/26/2019 02:30 AM
User is offline View Users Profile Print this message


Fish Killer

Posts: 43485
Joined Forum: 10/09/2005

Coleslaw os an EPIC moron!

http://www.foxnews.com/politic...-hits-11-year-flatline

-------------------------
 08/26/2019 03:59 AM
User is offline View Users Profile Print this message


Cole

Posts: 40769
Joined Forum: 07/22/2003

Trump said Monday that officials from China called U.S. officials and expressed interest to "get back to the table," The Wall Street Journal reported. He called the discussions a "very positive development."

"They want to make a deal. That's a great thing," he said.


Bullshit. Trump is a compulsive liar. This statement was designed to rebound the markets. This will be what, the sixth time he's said this?

Edited: 08/26/2019 at 04:05 AM by Cole
 08/26/2019 04:24 AM
User is offline View Users Profile Print this message


johnnyboy

Posts: 14341
Joined Forum: 07/22/2003

Well someone is lying about sanctions and who pays for them. That's a little beyond the comprehension of a Lyin fish. A soy bean farmer would be able to lay it out for you but you but with facts you're a fish out of water.

-------------------------

"One of the reasons why propaganda tries to get you to hate government is because it's the one existing institution in which people can participate to some extent and constrain tyrannical unaccountable power." Noam Chomsky.

 08/26/2019 06:33 AM
User is offline View Users Profile Print this message


Fish Killer

Posts: 43485
Joined Forum: 10/09/2005

Originally posted by: Cole

Trump said Monday that officials from China called U.S. officials and expressed interest to "get back to the table," The Wall Street Journal reported. He called the discussions a "very positive development."



"They want to make a deal. That's a great thing," he said.




Bullshit. Trump is a compulsive liar. This statement was designed to rebound the markets. This will be what, the sixth time he's said this?


"In response, Chinese Vice Premier Liu He told a state-controlled newspaper on Monday that "China is willing to resolve its trade dispute with the United States through calm negotiations and resolutely opposes the escalation of the conflict," Reuters first reported, citing a transcript of his remarks provided by the Chinese government. Liu is China's top trade negotiator."

FUCKING MORON!


-------------------------
 08/26/2019 07:29 AM
User is online View Users Profile Print this message


tpapablo

Posts: 30545
Joined Forum: 07/25/2003

What aren't the media lying about when it comes to Trump? It is pretty much at 100%.

-------------------------
I :heart; Putin

 08/26/2019 07:59 AM
User is offline View Users Profile Print this message


Fish Killer

Posts: 43485
Joined Forum: 10/09/2005

This is also a fact:

What isn't Coleslaw lying about when it comes to anything? It is pretty much at 100%.



-------------------------
 08/26/2019 09:21 AM
User is offline View Users Profile Print this message


johnnyboy

Posts: 14341
Joined Forum: 07/22/2003

The reason why you can't believe any media is because you need to have no facts that contradict your propaganda. You have a right to your opinion, you don't have a right to "your" facts. It is a fact that trade wars are not easy and that we consumers pay for the tariffs. It is a fact lost on our president and maybe you, if you sincerely believe trump.

-------------------------

"One of the reasons why propaganda tries to get you to hate government is because it's the one existing institution in which people can participate to some extent and constrain tyrannical unaccountable power." Noam Chomsky.

 08/26/2019 10:41 AM
User is offline View Users Profile Print this message


wtf

Posts: 3511
Joined Forum: 11/23/2005

Originally posted by: tpapablo

What aren't the media lying about when it comes to Trump? It is pretty much at 100%.

Please cite some examples. Since you said 100%, you should have no problem riffing them off.


-------------------------
trump - putting the 'con' in conservative
 08/26/2019 10:58 AM
User is online View Users Profile Print this message


tpapablo

Posts: 30545
Joined Forum: 07/25/2003

Originally posted by: wtf
Originally posted by: tpapablo What aren't the media lying about when it comes to Trump? It is pretty much at 100%.
Please cite some examples. Since you said 100%, you should have no problem riffing them off.
Sure. There are 1000's that they had on Russian collusion alone. Several hundred on the racist business.

-------------------------
I :heart; Putin

 08/26/2019 11:00 AM
User is offline View Users Profile Print this message


johnnyboy

Posts: 14341
Joined Forum: 07/22/2003

See what he did there, he cited his lack of belief as proof and tried to extrapolate it to a provable lie, which would give him time and space to spin.

-------------------------

"One of the reasons why propaganda tries to get you to hate government is because it's the one existing institution in which people can participate to some extent and constrain tyrannical unaccountable power." Noam Chomsky.

 08/26/2019 11:10 AM
User is offline View Users Profile Print this message


Fish Killer

Posts: 43485
Joined Forum: 10/09/2005

Originally posted by: johnnyboy

See what he did there, he cited his lack of belief as proof and tried to extrapolate it to a provable lie, which would give him time and space to spin.


Well beings that the Russian Collusion was a complete proved hoax and Trump isn't a racist....well....that means you are full of shit!

FACT!

-------------------------


Edited: 08/26/2019 at 11:11 AM by Fish Killer
 08/26/2019 11:18 AM
User is offline View Users Profile Print this message


wtf

Posts: 3511
Joined Forum: 11/23/2005

Originally posted by: tpapablo

Originally posted by: wtf

Originally posted by: tpapablo



What aren't the media lying about when it comes to Trump? It is pretty much at 100%.


Please cite some examples. Since you said 100%, you should have no problem riffing them off.



Sure. There are 1000's that they had on Russian collusion alone. Several hundred on the racist business.

Just because you do not believe facts doesn't make it a lie. Typical dotard...


-------------------------
trump - putting the 'con' in conservative
 08/26/2019 11:18 AM
User is offline View Users Profile Print this message


johnnyboy

Posts: 14341
Joined Forum: 07/22/2003

You can't see what you don't want to.

-------------------------

"One of the reasons why propaganda tries to get you to hate government is because it's the one existing institution in which people can participate to some extent and constrain tyrannical unaccountable power." Noam Chomsky.

 08/26/2019 11:18 AM
User is offline View Users Profile Print this message


wtf

Posts: 3511
Joined Forum: 11/23/2005

Originally posted by: johnnyboy

See what he did there, he cited his lack of belief as proof and tried to extrapolate it to a provable lie, which would give him time and space to spin.

Yup, it's par for the course. I would venture to say that tpap doesn't believe 95% of the shit he posts, just does it to try and get a rise.


-------------------------
trump - putting the 'con' in conservative
 08/26/2019 03:38 PM
User is offline View Users Profile Print this message


Cole

Posts: 40769
Joined Forum: 07/22/2003

Originally posted by: Fish Killer

Originally posted by: Cole



Trump said Monday that officials from China called U.S. officials and expressed interest to "get back to the table," The Wall Street Journal reported. He called the discussions a "very positive development."







"They want to make a deal. That's a great thing," he said.








Bullshit. Trump is a compulsive liar. This statement was designed to rebound the markets. This will be what, the sixth time he's said this?




"In response, Chinese Vice Premier Liu He told a state-controlled newspaper on Monday that "China is willing to resolve its trade dispute with the United States through calm negotiations and resolutely opposes the escalation of the conflict," Reuters first reported, citing a transcript of his remarks provided by the Chinese government. Liu is China's top trade negotiator."



FUCKING MORON!


"Based on what I know, Chinese and US top negotiators didn't hold phone talks in recent days," Hu said in a tweet. "China didn't change its position. China won't cave to US pressure."

Lke I said...

Statistics
145947 users are registered to the 2nd Light Forums forum.
There are currently 10 users logged in to the forum.

FuseTalk Basic Edition - © 1999-2019 FuseTalk Inc. All rights reserved.

Hey Matt B ... How the hell o are you ??? :)