Long Term Impact of Trade War on Woodworking Tool Prices
#41
(05-30-2019, 11:33 PM)Woodenfish Wrote: I just thought of something. If more middle aged parents began taking up woodworking and build a basement workshop, the economy could rocket with millennials finally losing their home.

I like this idea!
Smile
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#42
(05-31-2019, 11:12 AM)RKMBrown© Wrote: I'll be here all day to elaborate if need be.

Do that AFTER the tariffs achieve their goals.

Simon
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#43
(05-31-2019, 11:12 AM)RKMBrown© Wrote: Oh? Where does the money from tariffs go then?

Hint:
A tariff is a tax.

Correct.  A fairly regressive one as well.  If the Mexican auto tariff goes into effect, get ready to pay more for your new car, or for repair parts for that matter.  Lots of unintended domestic consequences with tariffs.
Credo Elvem ipsum etiam vivere
Non impediti ratione cogitationis
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#44
(05-31-2019, 11:21 AM)Admiral Wrote: Correct.  A fairly regressive one as well.  If the Mexican auto tariff goes into effect, get ready to pay more for your new car, or for repair parts for that matter.  Lots of unintended domestic consequences with tariffs.

Is there a particular reason I have to buy Mexican or Chinese?  I usually avoid buying Chinese and Mexican sourced products with the exception of mexican tequila and coke (with real sugar) their other products to me are sub-par at best, and well I just don't drink that much of those products, so....  

I don't support the offshoring of our production.

While I do support taxes in some form or other and I prefer by a HUGE margin tariffs and sales taxes over personal income and corporate taxes.

IMO everyone should have some skin in the game when it comes to importing products vs buying American.  IMO everyone should have some skin in the game when it comes to paying taxes.  I'm not a fan of "progressive" taxes.

Further, I disagree with the term "regressive" taxes when applied at the same rate for everyone. How is a tariff regressive? Flat is not regressive. It's flat. Sure it's less progressive than a "progressive" tax that forgives half the country from paying any tax, but just because it's not "progressive" does not mean it's "regressive." The poor are not charged a "higher" rate of tax for tariffs, just the opposite, everyone pays the same rate.

Nearly every other country besides the US charges tariffs and vat taxes which impact the price of imports. It's time we do the same, IMO, vs getting most of our revenue from progressive taxation on labor.

That said .. I recognize the issue with labor taxes paid by older generations ... then switching to a sales tax model after they stop working.. "double taxation" sucks just as bad as being "progressively" taxed to hell and back for the sin of earning more money than your neighbor.
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#45
dateline=\1559320633 Wrote:I'm thinking more about retired people on fixed incomes; where a hidden "tariff tax" impacts them more on a percentage basis of that fixed income than it does upon those who have the ability to make higher incomes, or get raises, or a second job, etc.  That's the unintended consequence, and the COLA adjustments to Social Security don't make up for such things.
Credo Elvem ipsum etiam vivere
Non impediti ratione cogitationis
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#46
The sad part is if the clowns in DC would work together to resolve an issue that anyone can see is out of control, none of this would have happened. Not trying to be political (clowns include all of them regardless of whether there is a D or R after their name) just trying to throw a bit of reality into a good conversation.

I like these kind of threads. Very educational in my opinion!
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#47
(05-31-2019, 11:21 AM)Admiral Wrote: I'm thinking more about retired people on fixed incomes; where a hidden "tariff tax" impacts them more on a percentage basis of that fixed income than it does upon those who have the ability to make higher incomes, or get raises, or a second job, etc.  That's the unintended consequence, and the COLA adjustments to Social Security don't make up for such things.

Or retired people could avoid this tariff tax by buying products that are made right here in the USA thus directly supporting the SS taxes they enjoy given that the people who sold said products pay for SS. Maybe then we won't have to cancel SS for lack of sufficient SS taxes.
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#48
(05-31-2019, 02:40 PM)RKMBrown© Wrote: Or retired people could avoid this tariff tax by buying products that are made right here in the USA thus directly supporting the SS taxes they enjoy given that the people who sold said products pay for SS. Maybe then we won't have to cancel SS for lack of sufficient SS taxes.

Well, sure, but easier said than done for those who rely on low cost goods that simply aren't produced here anymore, like clothing, household goods, that sort of thing; those industries aren't coming back anytime soon; like I said, the problem is the unintended consequences.  I don't have a particular view on this from a political perspective, it's just that I know a lot of good folks on fixed incomes, and they are struggling to keep things going as it is.  I work with a guy in a senior center who lets me know who needs some light household repairs, I do it pro bono, like faucet and light switch repairs, fixing doors, repairing steps and handrails, etc., and the people are so happy as otherwise they could not afford to have things fixed.  I wave off the $5s and $10s they seem compelled to offer, they need it more than I do.  We all do what we can.
Credo Elvem ipsum etiam vivere
Non impediti ratione cogitationis
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#49
(05-31-2019, 04:04 PM)Admiral Wrote: Well, sure, but easier said than done for those who rely on low cost goods that simply aren't produced here anymore, like clothing, household goods, that sort of thing; those industries aren't coming back anytime soon; like I said, the problem is the unintended consequences.  I don't have a particular view on this from a political perspective, it's just that I know a lot of good folks on fixed incomes, and they are struggling to keep things going as it is.  I work with a guy in a senior center who lets me know who needs some light household repairs, I do it pro bono, like faucet and light switch repairs, fixing doors, repairing steps and handrails, etc., and the people are so happy as otherwise they could not afford to have things fixed.  I wave off the $5s and $10s they seem compelled to offer, they need it more than I do.  We all do what we can.

bartering/pro-bono is the way to go.. goods are produced in a lot more locations than china and mexico...

we can do it.. have faith

I had a dream that all the early retirement folks came out of retirement to go back to building stuff again...
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#50
I have zero fear of a loss of cheap products coming from China. Like others said there are plenty of other countries that could pick up the slack.
Worst case scenario I buy less product, pay more for better quality.
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