Tariffs and Potential Inflation

[SAJ-99]

Based on this source, the years you reported down, were actually up slightly. They did go down in 2020 and 2023.

https://www.statista.com/statistics/200405/receipts-of-the-us-government-since-fiscal-year-2000/

My data came from the Treasury so . These numbers are always shifting so it doesn’t surprise me that you found differences. I could pull 2020 but that is Covid. The spike up in 2021 also Covid. Those numbers are a mess and will skew a lot of things for a while. 2019 is a pretty good baseline for “normal”.

Any honest discussion should be around what the numbers were versus what they could have been without the cuts. This is how OMB does it and the requirements in Congress. (The response is to juice growth assumptions.) So even “slightly up” proves the point that the tax cuts were money to corporations and wealthy. The offset was debt issuance.

I admit that both parties do the same thing, just in different ways. The playbook for both hasn’t changed in 50yrs. I don’t expect it to change this time. Let the mob decide in 4yrs.

 

[BigHornRam]

This is a great read if you ever want to get a glimpse of how major policy takes place as it relates to the 1986 Tax Act.

https://www.amazon.com/Showdown-Gucci-Gulch-Lawmakers-Lobbyists/dp/0394758110

When the Washington Compost says it is a great read, I'm skeptical.

 

[jryoung]

When the Washington Compost says it is a great read, I'm skeptical.

You should be skeptical regardless of who praised or panned it. It's earned its stripes since being written nearly 40 years ago.

 

[BigHornRam]

You should be skeptical regardless of who praised or panned it. It's earned its stripes since being written nearly 40 years ago.

According to who? The title of the book alone, is embarrassing.

 

[jryoung]

According to who? The title of the book alone, is embarrassing.

Read it or don't. I'm not the one to find the right review for your confirmation bias.

 

[BigHornRam]

Read it or don't. I'm not the one to find the right review for your confirmation bias.

I'm looking forward to reading the book titled "The Final Demise of SALT Deductions and its Impact on Blue State Limousine Liberal Tax Liability".

 

[VikingsGuy]

Let’s just be clear - on HT only @Ben Lamb is allowed to speak ill of Ronnie - I am watching the rest of you

 

[BigHornRam]

 

[Ben Lamb]

Let’s just be clear - on HT only @Ben Lamb is allowed to speak ill of Ronnie - I am watching the rest of you

 

[Sytes]

THAT'S some serious whiplash head banging there! Haha!

 

[ismith]

China bans exports to US of gallium, germanium, antimony in response to chip sanctions

China has announced a ban on exports to the United States of gallium, germanium and other key high-tech materials with potential military applications.

apnews.com

 

[VikingsGuy]

Too much credit given. He has filled zero cabinet picks, and Hegseth is already on life support.

My prediction is he loses one more before senate hearing begins, loses one during the hearing/committee process and loses one on a floor vote. So, when said and done, the worst 4 will go down, the rest will reach the tape.

And Hegseth is on hour to hour viability watch. GOP senators are quietly reminding Trump that he is not king. I hope Tulsi & Patel are next on the radar. And then pretty much all of his health-related folks (but my guess is those are going to get a pass - bummer).

 

[BigHornRam]

And Hegseth is on hour to hour viability watch. GOP senators are quietly reminding Trump that he is not king. I hope Tulsi & Patel are next on the radar. And then pretty much all of his health-related folks (but my guess is those are going to get a pass - bummer).

Since you are sharing all your inside baseball thoughts with us, who do you think is behind the execution of the United Healthcare CEO this morning?

 

[VikingsGuy]

Since you are sharing all your inside baseball thoughts with us, who do you think is behind the execution of the United Healthcare CEO this morning?

Logic suggests (a) disgruntled former employee, (b) person negatively impacted by an insurance denial, or (c) love triangle. Your guess is as good as mine.

 

[noharleyyet]

China bans exports to US of gallium, germanium, antimony in response to chip sanctions

China has announced a ban on exports to the United States of gallium, germanium and other key high-tech materials with potential military applications.

apnews.com

"This action is the culmination of the Biden-Harris Administration's targeted approach, in concert with our allies and partners, to impair the [People's Republic of China's] ability to indigenize the production of advanced technologies that pose a risk to our national security," U.S. Secretary of Commerce Gina Raimondo said.

The trade restrictions also come amid growing threats from President-elect Trump that he will impose significant tariffs on all Chinese goods entering the U.S. upon taking office.

China blocks shipment of rare minerals to US: What to know

China's ban on critical minerals include gallium and germanium and metalloid antimony, all used to manufacture semiconductors.

www.newsweek.com

 

[Sytes]

Add in China's dominance on our green energy present and future...

View attachment 351586

...

People in America are absolutely naive to believe a trade war will not have adverse impacts on their dollar... It's humorous to an extent.

"We want cheap China goods - we don't care they are stealing intellectual property of American companies, involved in computer sabotage", etc. All these clowns care about is wanting their cheap China goods that undermine American goods because of Chinese State operated actions that lead their Chinese companies w/ extremely cheap labor cost...

I posted this earlier... China holds a dominate position with America's green energy movement. Hence our Biden enhanced upon Trump tariffs for Solar, EV, etc... China has our nuts in their hands because we made ourselves dependable on their market that the oblivious Americans can not comprehend China has always held higher tariffs on American goods and we countered their elevated, only for them to raise tariffs higher on ours.

It is a war that is thankfully NOT boots on the ground. Prepare to pay a value for your goods that's equivalent to American employee protections / fair wages that COST $$$ passed to the consumer. Some people have humorously thick skulls.

 

[VikingsGuy]

...

People in America are absolutely naive to believe a trade war will not have adverse impacts on their dollar... It's humorous to an extent.

"We want cheap China goods - we don't care they are stealing intellectual property of American companies, involved in computer sabotage", etc. All these clowns care about is wanting their cheap China goods that undermine American goods because of Chinese State operated actions that lead their Chinese companies w/ extremely cheap labor cost...

I posted this earlier... China holds a dominate position with America's green energy movement. Hence our Biden enhanced upon Trump tariffs for Solar, EV, etc... China has our nuts in their hands because we made ourselves dependable on their market that the oblivious Americans can not comprehend China has always held higher tariffs on American goods and we countered their elevated, only for them to raise tariffs higher on ours.

It is a war that is thankfully NOT boots on the ground. Prepare to pay a value for your goods that's equivalent to American employee protections / fair wages that COST $$$ passed to the consumer. Some people have humorously thick skulls.

In 2001 when Clinton Administration consented to China’s entrance into WTO we were saying as a people, “we care more about cheap HDTVs and housewares than we do about national security, human rights or national sovereignty”. We got exactly what we chose - in general I am tired of crying over spilt milk that was so self evident at the time.

 

[FI460]

...

People in America are absolutely naive to believe a trade war will not have adverse impacts on their dollar... It's humorous to an extent.

"We want cheap China goods - we don't care they are stealing intellectual property of American companies, involved in computer sabotage", etc. All these clowns care about is wanting their cheap China goods that undermine American goods because of Chinese State operated actions that lead their Chinese companies w/ extremely cheap labor cost...

I posted this earlier... China holds a dominate position with America's green energy movement. Hence our Biden enhanced upon Trump tariffs for Solar, EV, etc... China has our nuts in their hands because we made ourselves dependable on their market that the oblivious Americans can not comprehend China has always held higher tariffs on American goods and we countered their elevated, only for them to raise tariffs higher on ours.

It is a war that is thankfully NOT boots on the ground. Prepare to pay a value for your goods that's equivalent to American employee protections / fair wages that COST $$$ passed to the consumer. Some people have humorously thick skulls.

I think more likely we'll be moving the production of those goods to Mexico, Vietnam, Laos, etc...

Which I think is good. Diversification of the consumer market out of China will benefit those nations, most of which aren't adversarial to us.

 

[BigHornRam]

Logic suggests (a) disgruntled former employee, (b) person negatively impacted by an insurance denial, or (c) love triangle. Your guess is as good as mine.

Looked like a professional hit job. Maybe had something to do with this ?

https://www.crainsnewyork.com/health-care/unitedhealth-chair-execs-sold-102m-stock-doj-probe-became-public

 

[brymoore]

Looked like a professional hit job. Maybe had something to do with this ?

https://www.crainsnewyork.com/health-care/unitedhealth-chair-execs-sold-102m-stock-doj-probe-became-public

I saw the video. It looked like a planned execution.