bigdaddy

U.S. Steel Tax.

10 posts in this topic

Posted (edited)

Hi folks,

What's with Donald Trump and his advisors?

He wants to whack a 25 percent tax on all imported steel for the sake of a few american steel jobs????

How does that work?

The battered stock market reacted negatively to this news.

Whack a 25 percent tax on imported steel and what's the first thing steel suppliers in the U.S. will do? I'll answer that...They will increase the price of steel to the consumer...Let's talk about only one industry...The Automotive industry...What's going to happen to the price of producing cars? What are they going to do? So this will put the jobs of all those car workers at risk... OK lets take another industry...Construction....And on we go...

And retaliatory measures will hurt...

For a wealthy business man to think a tax like this will solve things, one wonders....

Hasn't he seen recent history when President Bush did the same and within 2 years the tax was removed?

Anyway, I'm not involved in U.S politics...What do others think?

Cheers

Edited by bigdaddy (see edit history)

Share this post


Link to post
Share on other sites

Hey Bigdaddy,

Our economy has suffered almost every time a "businessman" has become president.  The job of promoting welfare of a country is almost a complete opposite of the mindset of running a business.  

I found this article interesting.

Businessman presidents.

ande, bigdaddy and Cecil like this

Share this post


Link to post
Share on other sites

Hi BD

 

19 hours ago, bigdaddy said:

And retaliatory measures will hurt...

For a wealthy business man to think a tax like this will solve things, one wonders....

Hasn't he seen recent history when President Bush did the same and within 2 years the tax was removed?

Anyway, I'm not involved in U.S politics...What do others think?

 

http://www.scmp.com/week-asia/opinion/article/2135330/someone-tell-trump-trade-war-over-china-won

q4zs6jdszyopcynrh8le.jpeg

 

cheers

 

 

bigdaddy likes this

Share this post


Link to post
Share on other sites

Hi Ande,

Ha,ha,ha Very good,

I don't even think this one is with China, although confusingly, Trump blames them

Most of the imports come from Canada, Brazil and South Korea.

Cheers.

Share this post


Link to post
Share on other sites

Hi again BD

4 hours ago, bigdaddy said:

Most of the imports come from Canada, Brazil and South Korea.

You forgot to include Mexico in that list

Anyhow, if The D. chooses to put a general tariff on steel & aluminum, the EU (and other) will retaliate, and we will all as consumers  loose with a trade war. EU have the US targets ready to roll.

Quote from here : http://www.dw.com/en/eu-prepares-response-to-possible-us-tariffs/a-42652436

The focus would most likely be on agricultural produce including tomatoes and potatoes. 

Giving Harley-Davidson a rough ride?

But according to the report, tariffs might also be slapped on motorcycle imports. The Frankfurter Allgemeine Zeitung said EU officials had mentioned the possibility of imposing a tariff on Harley-Davidson imports from Wisconsin, the home of House Speaker Paul Ryan.

They also mentioned a possible tariff on bourbon from Tennessee and Kentucky, the home of longtime Kentucky Senator and Senate Majority Leader Mitch McConnell.

Some items on the list of possible EU tariffs were put there during the last big trade dispute between the EU and the United States under former President George W. Bush. But many parts of the list have been altered since to reflect changing realities.

Quote end.

We will see, according to the D. trade war is "good" and are "easy to win"

And keep in mind  the president called himself a “very stable genius” and called being “really smart” one of his greatest assets.

cheers 

 

 

 

bigdaddy likes this

Share this post


Link to post
Share on other sites

Posted (edited)

That reminds me of the joke.

A plane was about to crash there were 4 passengers on board but only 3 parachutes.

The first passenger gets up and says 'I'm Steph Curry, the best NBA basketball player...The Warriors and my millions of fans need me I can't afford to die."....

He took the first pack and left the plane...

The next passenger gets up and says "I'm Donald Trump, the newly elected U.S. President and I'm the smartest president in American history, my people don't want me to die"...He took the 2nd pack and jumped out the plane...

The 3rd passenger, the Pope said to the 4th passenger, a 10 year old schoolboy" My son, I am old and don't have many years left, you have many mores years ahead of you, so I will sacrifice my life and let you have the last parachute" The little boy said "That's OK your Holiness...There's a parachute for you....America's smartest president just took my school bag" :)

Ande, You are onto the exact same stuff I'm on about

Hey Rav, interesting list...I'm not so sure Donald Trump is particularly successful either, considering the silver spoon he had in his mouth growing up and upon his inheritance.

Cheers..

Edited by bigdaddy
Grammer (see edit history)
Cecil and Ravnis like this

Share this post


Link to post
Share on other sites
On 3/3/2018 at 0:51 AM, bigdaddy said:

Hi folks,

What's with Donald Trump and his advisors?

He wants to whack a 25 percent tax on all imported steel for the sake of a few american steel jobs????

How does that work?

The battered stock market reacted negatively to this news.

Whack a 25 percent tax on imported steel and what's the first thing steel suppliers in the U.S. will do? I'll answer that...They will increase the price of steel to the consumer...Let's talk about only one industry...The Automotive industry...What's going to happen to the price of producing cars? What are they going to do? So this will put the jobs of all those car workers at risk... OK lets take another industry...Construction....And on we go...

And retaliatory measures will hurt...

For a wealthy business man to think a tax like this will solve things, one wonders....

Hasn't he seen recent history when President Bush did the same and within 2 years the tax was removed?

Anyway, I'm not involved in U.S politics...What do others think?

Cheers

He's an idiot that has the attention span of a toddler. He knows nothing about economics and lies on a daily basis. We might as well have elected Joe Blow down he street. Well actually we might have done better with Joe Blow.

Businessman? We have a "businessman" that has filed bankruptcy at least 6 times as our president now. God help us. And we don't even know how much he's worth as although he promised to release his tax returns during the campaign, we've seen nothing. As far as we know he could be on the verge of bankruptcy again or owes millions to people like Russian oligarchs. His son in law the son of a convicted felon does. 

Share this post


Link to post
Share on other sites

Posted (edited)

How many of you knew the last time we had a trade war on a global basis is it was followed by the Great Depression? Experts say it my not have been the entire reason for the GD but it sure contributed to it. 

Look up the Smoot Hawley Act if you want to read more. 

 

Edited by Cecil (see edit history)
Ravnis likes this

Share this post


Link to post
Share on other sites

Game on :(

cheers

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!


Register a new account

Sign in

Already have an account? Sign in here.


Sign In Now