Border Tax

If something like that really happens then it would be a good time to stock pile used cars and resell went the prices go up.
 
And when GDP goes negative and unemployment goes up, the numbers, of course, will be rigged.  This guy would insist on defying gravity if he thought it was trying to get one over on him.
 
paperboyNC said:
BMW already makes more vehicles in the US than they sell here.
Click to expand...

He was whining about the fact that more Germans don't drive American cars. The German Vice Chancellor basically told him that if wanted a higher presence of American cars, they need to build better cars.

The problem with import tariffs is that they tend to raise the prices of local goods as well (not by as much so as to still be at a more competitive price, but they will get raised nonetheless).

My guess is that not many companies will move production to within the US and just pass the cost of the tariff on to the consumers. The tariff revenue will be used by the government to finance the wall/fence/ditch on the southern border. Car and auto parts from Mexico are close to $80bn annually. 35% is $28bn annually. Let's say that imports are reduced by 75% and that brings in $7bn of yearly revenue. After 2 years the cost of the wall is paid for. A golden star if you can tell me who ended up paying for it ...

If Mexico imposes tit for tat tariffs on imported goods, major agricultural products will see a disruptions. Corn, soybeans, pork, beef would all see their sales shrink. Cheaper ribeye while there is an oversupply and then increase unemployment in areas that are centered around these products as they adjust their output to the new market demands. TPP would have benefited agricultural producers but that's all gone now.


 
peppy said:
paperboyNC said:
BMW already makes more vehicles in the US than they sell here.
Click to expand...

He was whining about the fact that more Germans don't drive American cars. The German Vice Chancellor basically told him that if wanted a higher presence of American cars, they need to build better cars.

The problem with import tariffs is that they tend to raise the prices of local goods as well (not by as much so as to still be at a more competitive price, but they will get raised nonetheless).

My guess is that not many companies will move production to within the US and just pass the cost of the tariff on to the consumers. The tariff revenue will be used by the government to finance the wall/fence/ditch on the southern border. Car and auto parts from Mexico are close to $80bn annually. 35% is $28bn annually. Let's say that imports are reduced by 75% and that brings in $7bn of yearly revenue. After 2 years the cost of the wall is paid for. A golden star if you can tell me who ended up paying for it ...

If Mexico imposes tit for tat tariffs on imported goods, major agricultural products will see a disruptions. Corn, soybeans, pork, beef would all see their sales shrink. Cheaper ribeye while there is an oversupply and then increase unemployment in areas that are centered around these products as they adjust their output to the new market demands. TPP would have benefited agricultural producers but that's all gone now.
Click to expand...

Mexico needs the US not the other way around.

#Remittances
 
eyephone said:
peppy said:
paperboyNC said:
BMW already makes more vehicles in the US than they sell here.
Click to expand...

He was whining about the fact that more Germans don't drive American cars. The German Vice Chancellor basically told him that if wanted a higher presence of American cars, they need to build better cars.

The problem with import tariffs is that they tend to raise the prices of local goods as well (not by as much so as to still be at a more competitive price, but they will get raised nonetheless).

My guess is that not many companies will move production to within the US and just pass the cost of the tariff on to the consumers. The tariff revenue will be used by the government to finance the wall/fence/ditch on the southern border. Car and auto parts from Mexico are close to $80bn annually. 35% is $28bn annually. Let's say that imports are reduced by 75% and that brings in $7bn of yearly revenue. After 2 years the cost of the wall is paid for. A golden star if you can tell me who ended up paying for it ...

If Mexico imposes tit for tat tariffs on imported goods, major agricultural products will see a disruptions. Corn, soybeans, pork, beef would all see their sales shrink. Cheaper ribeye while there is an oversupply and then increase unemployment in areas that are centered around these products as they adjust their output to the new market demands. TPP would have benefited agricultural producers but that's all gone now.
Click to expand...

Mexico needs the US not the other way around.

#Remittances
Click to expand...

LOL, tell that to US farmers and food producers.

If they tax remittances at a high rate (25% tax would only generate $5bn), what makes you think they will keep on using electronic transfer services? It would have to be at a much lower rate as to not change behaviors but that doesn't generate enough revenue. 

 
Looks like it's shaping up to being a 20% tax (aka tariff) on imported goods from Mexico. Gotta up my Jarritos budget now ....
 
I hope trump takes the next step and deports all illegals. I want the movie, a day without a Mexican, to play out in real life.

 
qwerty said:
I hope trump takes the next step and deports all illegals. I want the movie, a day without a Mexican, to play out in real life.
Click to expand...

Qwerty got any good stock tips?
 
qwerty said:
I hope trump takes the next step and deports all illegals. I want the movie, a day without a Mexican, to play out in real life.
Click to expand...

So, you want no legal Mexicans either? That would not be cool. I work with legal Hispanics everyday, have a good relationship with them.
 
Whew!! Good thing I just bought a new washer and dryer.  Don't have to worry about that tariff for another 10 years. Don't kid yourself, this is a warning shot, The Jyneese are taking heed, they are scared. MAGA!!

China Offers Tax Incentives to Persuade
U.S. Companies to Stay

BEIJING ? China said on Thursday that it would temporarily exempt foreign
companies from paying tax on their earnings, a bid to keep American businesses
from taking their profits out of China following Washington?s overhaul of the United
States tax code.
There is, however, a catch: To be eligible, foreign companies must invest those
earnings in sectors encouraged by China?s government ? including railways, mining,
technology and agriculture ? according to a statement from the Finance Ministry.
The measure is retroactive from Jan. 1 this year, the ministry said.
The move would ?promote the growth of foreign investment, improve the
quality of foreign investment and encourage overseas investors to continuously
expand their investment in China,? the ministry said. It did not elaborate.
Despite its appeal as a manufacturing hub, one where companies from around
the world have set up operations to tap into a highly skilled work force and strong
infrastructure, China charges high taxes. On top of a standard corporate rate of 25
percent, companies are required to make social security contributions and other
payments that push their tax burden higher than it is in many other countries

https://www.nytimes.com/2017/12/28/business/tax-bill-china.html
 
How?s your RCA TV doing?

morekaos said:
Whew!! Good thing I just bought a new washer and dryer.  Don't have to worry about that tariff for another 10 years. Don't kid yourself, this is a warning shot, The Jyneese are taking heed, they are scared. MAGA!!

China Offers Tax Incentives to Persuade
U.S. Companies to Stay

BEIJING ? China said on Thursday that it would temporarily exempt foreign
companies from paying tax on their earnings, a bid to keep American businesses
from taking their profits out of China following Washington?s overhaul of the United
States tax code.
There is, however, a catch: To be eligible, foreign companies must invest those
earnings in sectors encouraged by China?s government ? including railways, mining,
technology and agriculture ? according to a statement from the Finance Ministry.
The measure is retroactive from Jan. 1 this year, the ministry said.
The move would ?promote the growth of foreign investment, improve the
quality of foreign investment and encourage overseas investors to continuously
expand their investment in China,? the ministry said. It did not elaborate.
Despite its appeal as a manufacturing hub, one where companies from around
the world have set up operations to tap into a highly skilled work force and strong
infrastructure, China charges high taxes. On top of a standard corporate rate of 25
percent, companies are required to make social security contributions and other
payments that push their tax burden higher than it is in many other countries

https://www.nytimes.com/2017/12/28/business/tax-bill-china.html
Click to expand...
 
Toyota warning: Tariffs will push up auto prices

On a day when many automakers issued statements saying it's too soon to know how President Donald Trump's proposed steel and aluminum tariffs will impact the prices of cars and trucks, Toyota was blunt: get ready to pay more.

A statement from the Japanese automaker said in part, "...this would substantially raise costs and therefore prices of cars and trucks sold in America."

Toyota doesn't say how much prices will go up, but the message was echoed by the American Automotive Policy Council. Its president, Matt Blunt, reiterated what he said in mid-February about proposed steel and aluminum tariffs.
https://www.google.com/amp/s/www.cn...warning-tariffs-will-push-up-auto-prices.html
 
eyephone said:
Toyota warning: Tariffs will push up auto prices

On a day when many automakers issued statements saying it's too soon to know how President Donald Trump's proposed steel and aluminum tariffs will impact the prices of cars and trucks, Toyota was blunt: get ready to pay more.

A statement from the Japanese automaker said in part, "...this would substantially raise costs and therefore prices of cars and trucks sold in America."

Toyota doesn't say how much prices will go up, but the message was echoed by the American Automotive Policy Council. Its president, Matt Blunt, reiterated what he said in mid-February about proposed steel and aluminum tariffs.
https://www.google.com/amp/s/www.cn...warning-tariffs-will-push-up-auto-prices.html
Click to expand...

If there is inflation, then interest rates going up folks.

Probably not good for the feds since they have to service their own debt and then there is social security payments which gotta go up.

Luckily most of us have our houses, so our costs are pretty well locked in and if houses fall we can all get a reduction in property taxes.



 
I'm fairly certain that they will find ways to reduce tax write offs/deductions for home owners.  Bashing mortgage interest deduction as unfair and mostly benefiting the wealthy seems popular recently.
 
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