Tariffs and Taxes ... Which is it ? I want my $214 back !

RubaDub

(So as not to hijack the Tariff thread, I thought this would be better to keep separate.)

I guess my Economics and Finance classes in College have not prepared me to understand the latest round of Tariffs/Taxes that Trump is instituting.

I really don't understand who is "paying" these fees and where they are going. First of all a tariff is a tax and anyone who doesn't believe that needs to invest in a bridge in New York City.

To keep this as simple as I can, I'm thinking of a $1,000 refrigerator that I am buying. With all the different percentages being levied against China, let's for numbers sake say that it now costs me $1,200 to purchase the unit. So somebody, somewhere has the $200 over the original price of the refrigerator.

Trump says that China is paying for it. (I guess this is like my parents paying for part of my car when I was in school?).

So according to Trump, China is sending the $200 to me. Correct? Well, I did not, nor I have I heard anyone else getting some sort of rebate form that I mail to Beijing or somewhere. Maybe it gets mailed to the Chinese Embassy in Washington DC or one of their Consulate Offices in another city. But I checked their website and see nothing about my rebate.

Well, did the money get sent to Rub a Dub via the US Government instead? Are they holding the money for me? Do I get mailed a check or simply deduct this from my personal tax return next April? I checked the IRS website and see nothing about my money there either.

So I paid $1,000 for the refrigerator, $200 extra that I am waiting for the Chinese to send me, but dammit I had to pay my 7% sales tax both on the $1,000 for the refrigerator AND paid the sales tax on the part the Chinese owe me. Isn't that double taxation?

Anyway I am still out the $214 (including my sales tax) that China owes me.

So did I misunderstand Trump or am I taking him out of context? I have heard him repeat time and time again that China is paying for it.

I just want to know how to get my $214 back.

Rub a Dub

Steel

The elders should be charged for possessing child pornography. If something criminal took , it absolutely none of there business.

Steel

Part of the defensive mechanism of being raped as a female is vagina wetness and even the ability to obtain climax. It often leaves victims feeling extra guilty and confused.

Holy shit to have these clowns playing a tape back to this girl saying things “ sounds like you are enjoying it”. If it were my cong I would burn these assholes alive.

RubaDub

The elders should be charged for possessing child pornography. If something criminal took , it absolutely none of there business.

Steel ...

Are you inferring that the elders may have my $214 ?

Rub a Dub

redvip2000

No China is not going to pay for it. Why would you ever believe Trump on this nonsense. Dare i say he probably doesn't even know how a tariff works. He just says whatever sounds better or makes him look better.

A tariff is paid by the receiving business. So to your point, if China sells a product to the US for $1000, the government imposes a tax of $200. These $200 are paid by US based companies who are importing the product, obviously not by China. Well of course US companies will pass that cost to the consumer which like always will take the brunt of it.

You could perhaps make the argument that by making Chinese products more expensive, there will be less demand for them, which could in fact hurt them. But there a 2 winners and two losers in this equation. The losers are China and the American consumer. The winners are the US government which sees its revenue grow and US manufacturers of those same products which now can better compete in the market since Chinese products are more expensive.

Steel

Oops wrong thread.

As for tariffs, pay a little more and support US jobs.

MAGA

RubaDub

As for tariffs, pay a little more and support US jobs. MAGA

Steel ...

I get it. So why doesn't Trump just say we are implementing a tax to support US production?

(Instead of some BS about China paying us back).

Rub a Dub

shepherdless

Of course a tariff is a tax.

A partial response to your (very good) refrigerator analogy is that (from memory) studies have shown that as a matter of practicality, not all of the $200 gets passed onto the consumer. Manufacturers and those on the supply chain will tend to absorb some of it, to the extent they can. The other thing that happens is that market forces will push down the currency of the country of manufacture to compensate, which is what we are seeing now.

sir82

Our Dear Leader says that China pays all of the tariffs.

So you still must have the $214 somewhere.

Did you check under the sofa cushions?

iwantoutnow

Ruba - DUDE you believe what Trump says?
Thats as bad as believing the WT:)

Tariffs and Taxes ... Which is it ? I want my $214 back !

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