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Thread: Tariffs---stupid idea--why do Presidents think they will work?

  1. #1

    Tariffs---stupid idea--why do Presidents think they will work?

    Donald Trump doesn't understand that tariffs don't work? How can a self described god of business not understand this basic concept? It isn't like he has to go too far back into history to see that they don't work. Hell, even those whose memories stop at Jan 20, 2009 have ammunition on this front...


    In March 2002, President George W. Bush imposed a 30% tariff on Chinese steel. The results were chaotic. In a report put out by Consuming Industries Trade Action Coalition in February of that year, the coalition found the tariffs against China boosted the overall prices of steel and cost the U.S. 200,000 jobs in businesses that buy steel, representing $4 billion.

    In another recent situation, in September 2009, President Obama imposed a three-year tariff on car tires from China. Chinese imports went down, but the tires were simply sourced from other countries, the LA Times noted. According to the Peterson Institute for International Economics, 1,200 tire jobs were saved in the U.S., but through costs passed along to American consumers, 2,500 jobs were lost indirectly.
    http://finance.yahoo.com/news/presid...180438688.html

    Try reading the Executive Summary of the report noted in the first paragraph...http://www.tradepartnership.com/pdf_...02jobstudy.pdf

    Don't worry, you don't have to actually read much...the summary is on pages two and three. It even has a colored graph for those who can't read English.

    Our President shows on a daily basis how unbelievably unqualified he is. What will today bring?

  2. #2
    It's an awful lot to ask people to read. They'd rather just make it up as they go along.

    Manufacturing as it existed up through the 1950s or so will *never* return to the U.S. Ignoring that and continuing to prop up a dream we should have long ago left behind will only create more economic bubbles.

    I doubt President Cheeto has ever take a basic economics class.

  3. #3
    #*! boat! Gilligan's Avatar
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    Quote Originally Posted by Kev_Russell View Post
    I doubt President Cheeto has ever take a basic economics class.
    I doubt if he has ever take [sic] one too. They don't teach economics at Wharton.

    Oh..wait...


    Say, you and TJ should hook up.
    You can't be a real country unless you have a beer and an airline. It helps if you have some kind of a football team, or some nuclear weapons, but at the very least you need a beer. -Frank Zappa

  4. #4
    Visualize whirled peas Merlin99's Avatar
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    Quote Originally Posted by Gilligan View Post
    I doubt if he has ever take [sic] one too. They don't teach economics at Wharton.

    Oh..wait...


    Say, you and TJ should hook up.
    I think they may be the same person.
    ‎"I've learned that pleasing everyone is impossible, but pissing everyone off is a piece of cake"

  5. #5
    Quote Originally Posted by tommyjo View Post
    ....understand that tariffs don't work? How can a self described god of business not understand this basic concept? ?

    Really? Well do regale us on this;

    https://www.dutycalculator.com/count...g-into-Mexico/

    http://www.idealtaxes.com/post3097.shtml


    As the resident god on all things economic, did you think no one would ask the obvious?
    Nepotism begins at home

  6. #6
    Quote Originally Posted by Kev_Russell View Post
    Cheeto .
    Your trial period is about over. You've shown a sign or two of reason but you keep discrediting yourself. What's it gonna be? To be taken serious or just another hypocrite?
    Nepotism begins at home

  7. #7
    INGSOC GURPS's Avatar
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    Quote Originally Posted by Larry Gude View Post
    Your trial period is about over. You've shown a sign or two of reason but you keep discrediting yourself. What's it gonna be? To be taken serious or just another hypocrite?
    that is either LB or Salvador reborn ... don't expect much
    Never attribute to malice that which is adequately explained by stupidity.
    - Robert J. Hanlon.

  8. #8
    Visualize whirled peas Merlin99's Avatar
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    Quote Originally Posted by GURPS View Post
    that is either LB or Salvador reborn ... don't expect much
    I'm going with bib blue, which is probably saying the same thing.
    ‎"I've learned that pleasing everyone is impossible, but pissing everyone off is a piece of cake"

  9. #9
    #*! boat! Gilligan's Avatar
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    Quote Originally Posted by Merlin99 View Post
    I'm going with bib blue, which is probably saying the same thing.
    Nah..blue was functionally illiterate in addition to being stupid and obnoxious. It's definitely bacon.
    You can't be a real country unless you have a beer and an airline. It helps if you have some kind of a football team, or some nuclear weapons, but at the very least you need a beer. -Frank Zappa

  10. #10
    INGSOC GURPS's Avatar
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    Quote Originally Posted by Gilligan View Post
    Nah..blue was functionally illiterate in addition to being stupid and obnoxious. It's definitely bacon.


    another elitist, like TJ, here to tell us poor rubes, how ignorant we are
    Never attribute to malice that which is adequately explained by stupidity.
    - Robert J. Hanlon.

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