Politics 🤡 Donald Trump

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I’m not a Trump fan and this isn’t a pro Trump post but I don’t disagree with small tariffs (and lowering GST to offset).

If 2 countries produce the same product for the same price point, the local one should have a slight advantage for environmental and nationalistic reason.

Buy NZ made!
 
He loves his tariffs. It's like he didn't attend any other economics classes besides the one on tariffs.

Trump has said in interviews that America in the past never had income tax and only relied on tariffs. Things were wonderful.

I've seen Americans talk about how great it would be if they didn't have to pay income tax and only relied on tariffs. Another industry I follow has already had a lot of retailers raising prices due to tariffs on Chinese goods/parts. So they are going to find out that there is going to be an impact.

This time of no income tax. I thought I'd try and look it up. The Stuff live feed today had the following.

President Donald Trump’s massive new tariffs would send the US tariff rate higher to levels unseen since around 1910, according to Fitch Ratings.
The President's aggressive tariff moves are set to lift the US tariff rate from just 2.5% in 2024 to 22% according to Fitch.

That surpasses the roughly 20% tariff rate the United States charged following the infamous Smoot-Hawley Tariff Act of 1930, which set off a global trade war that economists say worsened the Great Depression, according to CNN.

That is two dates one 95 years ago and another over 100. The world was a lot different back then. America's population would have been a lot different as well.

One of those dates was during World War 1. The other just before World War 2. Not really times I would have thought were prosperous.

This site has their income tax history. The top tax rate. Sure income taxes are low but they have a high surtax.
www.wolterskluwer.com

Historical Income Tax Rates

Wolters Kluwer takes a historical look at the top marginal income tax rates in the United States.
www.wolterskluwer.com www.wolterskluwer.com

It does look like countries will be going back to him to get a better deal which is probably his main goal.

He'll probably get his own entry in the history of American tariffs.

History of tariffs in the United States - Wikipedia

en.wikipedia.org en.wikipedia.org
 
wizard of Tauranga said:
I’m not a Trump fan and this isn’t a pro Trump post but I don’t disagree with small tariffs (and lowering GST to offset).

If 2 countries produce the same product for the same price point, the local one should have a slight advantage for environmental and nationalistic reason.

Buy NZ made!
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Did you understand the "tariffs charged to the us" part?

For example Aus does not have tariffs in place on USA goods, not the 10% as reported. NZ prob doesnt have 20% on usa products either.

But his supporter base is probably too thick to understand any of it.

See the below to get an understanding on how they calculated it all. How good is the tariffs on uninhabited countries lol

HIs minions just dont know any better.


View: https://twitter.com/JamesSurowiecki/status/1907559189234196942?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1907559189234196942%7Ctwgr%5Efc0e068eebece7a9de6dcbc40f19dea7ff4163da%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.news.com.au%2Fworld%2Fnorth-america%2Fus-politics%2Fus-politics-live%2Flive-coverage%2F207775179c0974fdef024ef1958289a3
 
tajhay said:
Did you understand the "tariffs charged to the us" part?

For example Aus does not have tariffs in place on USA goods, not the 10% as reported. NZ prob doesnt have 20% on usa products either.

But his supporter base is probably too thick to understand any of it.

See the below to get an understanding on how they calculated it all. How good is the tariffs on uninhabited countries lol

HIs minions just dont know any better.


View: https://twitter.com/JamesSurowiecki/status/1907559189234196942?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1907559189234196942%7Ctwgr%5Efc0e068eebece7a9de6dcbc40f19dea7ff4163da%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.news.com.au%2Fworld%2Fnorth-america%2Fus-politics%2Fus-politics-live%2Flive-coverage%2F207775179c0974fdef024ef1958289a3
Click to expand...

Yea, my post was about tariffs in general not Ttumps policy.

As a world we have been pro opening up trade which has benefitted trade but has gutted our local capacity in areas.

The positives are it finds the cheapest and most efficient supplier and allows countries to specialise in what they are good at.

But the negatives are it reduces resilience and capacity within our own economy and the environmental cost of transporting a product across the word when you can make it locally don’t stack up for a comparable product.

It concerns me when we lose whole industries and become reliant on overseas. Eg we mothballed our oil refinery capacity and in a world wide upheaval COULD lose supply and be stuffed. A Tarif could support local uneconomic key infrastructure and manufacturing capability.

As I said, I don’t agree with Trumps policy. Trumps experiment is doomed to fail but say a 5% Tarif done properly and consistently, supports and retains key local capacity and if GST was lowered would be cost neutral.
 
MrFrankWhite said:
If only the Constitution could be changed; "amended" perhaps. Ohh well, I guess we'll never know.
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I saw an interview with a constitutional lawyer who said the constitution prohibits a president to be "elected" for a third term. Apparently in drafts of the constitution they could have just made it clear and stated no person should be president for three terms, but they chose not to and left ways for the president to be appointed in special cases. One way to get Trump in for a third term would be for a republican nominee (JD Vance?) to win the office of president, be elected and for Trump to accede to the position when the person relinquishes the role. That would be potentially be seen to be constitutional, there was also another way. They suggested if Trump were to attempt to do that, that Obama should run against him. Who knows if it would ever happen, anything goes now a days!
 
Boston Boy said:
I saw an interview with a constitutional lawyer who said the constitution prohibits a president to be "elected" for a third term. Apparently in drafts of the constitution they could have just made it clear and stated no person should be president for three terms, but they chose not to and left ways for the president to be appointed in special cases. One way to get Trump in for a third term would be for a republican nominee (JD Vance?) to win the office of president, be elected and for Trump to accede to the position when the person relinquishes the role. That would be potentially be seen to be constitutional, there was also another way. They suggested if Trump were to attempt to do that, that Obama should run against him. Who knows if it would ever happen, anything goes now a days!
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Even if Trumps health was up to it and even if he really wanted to stand again, I don’t think there would be enough voters to support what would be seen as morally breaking the constitution.

Honestly, I think most Americans will be worse off in 4 years anyway and be happy to see the back of him by then.

And a lot wrests on the Democrats having a candidate that is not old and losing it and can inspire the people. They sort of allowed Trump 2 and hopefully learned lessons for next time round.
 
wizard of Tauranga said:
Even if Trumps health was up to it and even if he really wanted to stand again, I don’t think there would be enough voters to support what would be seen as morally breaking the constitution.

Honestly, I think most Americans will be worse off in 4 years anyway and be happy to see the back of him by then.

And a lot wrests on the Democrats having a candidate that is not old and losing it and can inspire the people. They sort of allowed Trump 2 and hopefully learned lessons for next time round.
Click to expand...
I don't think there will be an appetite for Trump. Really the democrats destroyed themselves with crazy policies. If you had a normal moderate politician in America with common sense and a bit of charisma they would win.
I am not sure whether Americans will be worse off, gas is cheaper, eggs have gone down, he is a much smarter than he gets credit for. I suspect they will become more wealthy by the end of his term, however will have to deal with a few challenges over the next year or so.
 
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