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The largest trade war in economic history

Missing the big picture

I think you guys are all missing the big picture.
America's debt grows bigger by the day. The president then announces big tax cuts. Government income falls so the debt gets bigger at a faster rate. This causes jitters in the money markets, Could the USA lose its triple-A credit rating, which would increase interest rates and force the debt to grow even faster?
The government has to do something to plug the gap so they introduce import tariffs on a range of foreign goods, goods that they know the country will continue to import. The tariffs are paid to the government helping them to plug the income deficit.

Now comes the cunning part, who pays the tariffs? It's not the countries who sell their goods to the US citizens. The tariffs are passed on to the US citizens. In effect, the president has taken the burden of taxation away from industry and the super rich and transferred it to the everyday US consumer and all under the guise of protecting their jobs.

The guy may not be able to string ten words together to form a sentence, but even I have to admit that was a clever move.
 
DeYaKen said:
I think you guys are all missing the big picture.
America's debt grows bigger by the day. The president then announces big tax cuts. Government income falls so the debt gets bigger at a faster rate. This causes jitters in the money markets, Could the USA lose its triple-A credit rating, which would increase interest rates and force the debt to grow even faster?
The government has to do something to plug the gap so they introduce import tariffs on a range of foreign goods, goods that they know the country will continue to import. The tariffs are paid to the government helping them to plug the income deficit.

Now comes the cunning part, who pays the tariffs? It's not the countries who sell their goods to the US citizens. The tariffs are passed on to the US citizens. In effect, the president has taken the burden of taxation away from industry and the super rich and transferred it to the everyday US consumer and all under the guise of protecting their jobs.

The guy may not be able to string ten words together to form a sentence, but even I have to admit that was a clever move.
Click to expand...

Once again, the little people cannot understand what has been happening to them for years. Of all the nations, the US has been the last to join this taxation of its own people in order to preserve their jobs. The US economy is dying from the thousands of paper cuts of protectionism from the rest of the world, and now a leader who fights back is the one hurting his own people. This shit is laughable.
 
BotanyBoy said:
Oh look the union janitor is here to talk shit and spread more lies :rolleyes:
Click to expand...

BotanyBoy said:
Thanks captain obvious, good thing I never said it was! :)
Click to expand...

Nope...just pointing out what a couple broke dicks you two are.


You do that ALL THE FUCKIN TIME.

You're an obvious troll... Now who would hire a braindead fatass asian?

https://www.theguardian.com/media/2016/nov/06/troll-armies-social-media-trump-russian

snip:


China
The existence of the wumao dang or “50 Cent Party” is not a secret in China, but then it is hard to employ up to two million people secretly. Even the state-owned Global Times reported with approval on the practice in 2010, citing Changsha’s party office as the source of the name after it paid a team of commenters 600 yuan a month in 2004, plus half a yuan – hence “50 cent” – for each glowing post they made.

Since then, paying stooges to praise your work online has become about as routine for local government in China as hiring traffic wardens. A recent study at Harvard University found that the Chinese authorities were placing 448m phony comments on the internet each year.


So how much extra do you get for all the dumbass comments you make? Or the bullshit?


There's just no way you are real.
 
ChadwickDMoss said:
Once again, the little people cannot understand what has been happening to them for years. Of all the nations, the US has been the last to join this taxation of its own people in order to preserve their jobs. The US economy is dying from the thousands of paper cuts of protectionism from the rest of the world, and now a leader who fights back is the one hurting his own people. This shit is laughable.
Click to expand...

Hello, AJ.
 
 
DeYaKen said:
I think you guys are all missing the big picture.
America's debt grows bigger by the day. The president then announces big tax cuts. Government income falls so the debt gets bigger at a faster rate. This causes jitters in the money markets, Could the USA lose its triple-A credit rating, which would increase interest rates and force the debt to grow even faster?
The government has to do something to plug the gap so they introduce import tariffs on a range of foreign goods, goods that they know the country will continue to import. The tariffs are paid to the government helping them to plug the income deficit.

Now comes the cunning part, who pays the tariffs? It's not the countries who sell their goods to the US citizens. The tariffs are passed on to the US citizens. In effect, the president has taken the burden of taxation away from industry and the super rich and transferred it to the everyday US consumer and all under the guise of protecting their jobs.

The guy may not be able to string ten words together to form a sentence, but even I have to admit that was a clever move.
Click to expand...

The right has become very deft at making big money grabs, and as I pointed out earlier, the 1%ersof the finance world do much better when the economy is tanking. So, tank it they shall.
 
DeYaKen said:
I think you guys are all missing the big picture.
America's debt grows bigger by the day. The president then announces big tax cuts. Government income falls
Click to expand...

Government is collecting record revenues:

Month Under Tax Cut; Run Surplus in January
By Terence P. Jeffrey | February 12, 2018 | 4:54 PM EST

(CNSNews.com) - The federal government this January ran a surplus while collecting record total tax revenues for that month of the year, according to the Monthly Treasury Statement released today.

January was the first month under the new tax law that President Donald Trump signed in December.

During January, the Treasury collected approximately $361,038,000,000 in total tax revenues and spent a total of approximately $311,802,000,000 to run a surplus of approximately $49,236,000,000.

Despite the monthly surplus of $49,236,000,000, the federal government is still running a deficit of approximately $175,718,000,000 for fiscal year 2018. That is because the government entered the month with a deficit of approximately $224,955,000,000.

The $361,038,000,000 in total taxes the Treasury collected this January was $11,747,870,000 more than the $349,290,130,000 that the Treasury collected in January of last year (in December 2017 dollars, adjusted using the Bureau of Labor Statistics inflation calculator).

https://www.cnsnews.com/news/articl...d-taxes-first-month-under-tax-cut-run-surplus

Monthly treasury statement here:

https://www.fiscal.treasury.gov/fsreports/rpt/mthTreasStmt/current.htm
 
DeYaKen said:
I think you guys are all missing the big picture.
America's debt grows bigger by the day. The president then announces big tax cuts. Government income falls so the debt gets bigger at a faster rate. This causes jitters in the money markets, Could the USA lose its triple-A credit rating, which would increase interest rates and force the debt to grow even faster?
The government has to do something to plug the gap so they introduce import tariffs on a range of foreign goods, goods that they know the country will continue to import. The tariffs are paid to the government helping them to plug the income deficit.

Now comes the cunning part, who pays the tariffs? It's not the countries who sell their goods to the US citizens. The tariffs are passed on to the US citizens. In effect, the president has taken the burden of taxation away from industry and the super rich and transferred it to the everyday US consumer and all under the guise of protecting their jobs.

The guy may not be able to string ten words together to form a sentence, but even I have to admit that was a clever move.
Click to expand...

Sounding like a right wing capitalist!!!

Funny....evil corporations eat ALL Democrat/progressive taxes/fees/regulations and never pass any of those on to the consumer. Better yet the national debt and deficit? Totally do NOT matter at all in any way when Democrats are blowing it up. Then they are "just numbers" and nothing to worry about because we can just raise the debt ceiling again.

Amazing how that works. :)
 
Last edited:
thehaircutgirl said:
are you saying that this slug is frisco?

Roy Moore So he is a man of uncompromising principle. Maybe we need a Mr. Smith to go to Washington instead of a Mrs. Clinton.


Climate Change This thread courtesy of Bill Nye, The Science Guy.

He's funny too! http://forum.literotica.com/showpost.php?p=88498234&postcount=106

this sounds like frisco I don't, but then I am new here and do not do popular culture. It's so demeaning.

pretends to know the american indian I continually hear that the people of the United States are so well educated and enlightened but they want to allow a group of ultra-Socialist fucks govern them. With a Cherokee yell she cried four, four more! :D
Click to expand...

I can see that this was around the time AJ was trying on different new suits to see which one fit best.

That last link was where his old school moves started to flex a lil' bit, but eventually the polyester WoundedKnee three-piece gave him the proper stretch! :D
 
vettey said:
Government is collecting record revenues:

Month Under Tax Cut; Run Surplus in January
By Terence P. Jeffrey | February 12, 2018 | 4:54 PM EST

(CNSNews.com) - The federal government this January ran a surplus while collecting record total tax revenues for that month of the year, according to the Monthly Treasury Statement released today.

January was the first month under the new tax law that President Donald Trump signed in December.

During January, the Treasury collected approximately $361,038,000,000 in total tax revenues and spent a total of approximately $311,802,000,000 to run a surplus of approximately $49,236,000,000.

Despite the monthly surplus of $49,236,000,000, the federal government is still running a deficit of approximately $175,718,000,000 for fiscal year 2018. That is because the government entered the month with a deficit of approximately $224,955,000,000.

The $361,038,000,000 in total taxes the Treasury collected this January was $11,747,870,000 more than the $349,290,130,000 that the Treasury collected in January of last year (in December 2017 dollars, adjusted using the Bureau of Labor Statistics inflation calculator).

https://www.cnsnews.com/news/articl...d-taxes-first-month-under-tax-cut-run-surplus

Monthly treasury statement here:

https://www.fiscal.treasury.gov/fsreports/rpt/mthTreasStmt/current.htm
Click to expand...


does this hurt or help the typical trump voter?
 
Rightguide said:
Government is collecting record revenues:

Month Under Tax Cut; Run Surplus in January
By Terence P. Jeffrey | February 12, 2018 | 4:54 PM EST

(CNSNews.com) - The federal government this January ran a surplus while collecting record total tax revenues for that month of the year, according to the Monthly Treasury Statement released today.

January was the first month under the new tax law that President Donald Trump signed in December.

During January, the Treasury collected approximately $361,038,000,000 in total tax revenues and spent a total of approximately $311,802,000,000 to run a surplus of approximately $49,236,000,000.

Despite the monthly surplus of $49,236,000,000, the federal government is still running a deficit of approximately $175,718,000,000 for fiscal year 2018. That is because the government entered the month with a deficit of approximately $224,955,000,000.

The $361,038,000,000 in total taxes the Treasury collected this January was $11,747,870,000 more than the $349,290,130,000 that the Treasury collected in January of last year (in December 2017 dollars, adjusted using the Bureau of Labor Statistics inflation calculator).

https://www.cnsnews.com/news/articl...d-taxes-first-month-under-tax-cut-run-surplus

Monthly treasury statement here:

https://www.fiscal.treasury.gov/fsreports/rpt/mthTreasStmt/current.htm
Click to expand...



Yay! Higher taxes! Just what the Republican voters ordered.

The same thing occurred Jan 2017.

No matter what happens on the revenue side, the CBO report also makes it clear that federal spending must be brought under control. While revenues climbed by $46 billion so far in the fiscal year, spending shot up by $62 billion.

That's an unsustainable trajectory in anybody's book.
Click to expand...

https://www.investors.com/politics/editorials/revenues-climb-5-2-in-first-month-of-gop-tax-cuts/
 
ChadwickDMoss said:
Once again, the little people cannot understand what has been happening to them for years. Of all the nations, the US has been the last to join this taxation of its own people in order to preserve their jobs. The US economy is dying from the thousands of paper cuts of protectionism from the rest of the world, and now a leader who fights back is the one hurting his own people. This shit is laughable.
Click to expand...

So you accept it is a ploy to shift the tax burden onto the people he says he's protecting.

In the UK we tax people in order to protect profits in France, Germany and yes, the US. They are the countries who own our utility companies, train operating companies and provide our defence equipment. i.e Trident and the planes to fly off our new carriers. How's that for protectionism?

In about a year your prez will claim that he has won the trade war after receiving some worthless assurances from the other countries. He will know they are worthless just as the people giving them will know they are worthless. Tariffs will be lifted and prices fall just in time for another election. The less cynical among you will be saying how great he is and how America sure showed those foreigners that they shouldn't mess with us.
Meanwhile, the Chinese will be laughing all the way to the bank.
 
Rightguide said:
Government is collecting record revenues:

Month Under Tax Cut; Run Surplus in January
By Terence P. Jeffrey | February 12, 2018 | 4:54 PM EST

(CNSNews.com) - The federal government this January ran a surplus while collecting record total tax revenues for that month of the year, according to the Monthly Treasury Statement released today.

January was the first month under the new tax law that President Donald Trump signed in December.

During January, the Treasury collected approximately $361,038,000,000 in total tax revenues and spent a total of approximately $311,802,000,000 to run a surplus of approximately $49,236,000,000.

Despite the monthly surplus of $49,236,000,000, the federal government is still running a deficit of approximately $175,718,000,000 for fiscal year 2018. That is because the government entered the month with a deficit of approximately $224,955,000,000.

The $361,038,000,000 in total taxes the Treasury collected this January was $11,747,870,000 more than the $349,290,130,000 that the Treasury collected in January of last year (in December 2017 dollars, adjusted using the Bureau of Labor Statistics inflation calculator).

https://www.cnsnews.com/news/articl...d-taxes-first-month-under-tax-cut-run-surplus

Monthly treasury statement here:

https://www.fiscal.treasury.gov/fsreports/rpt/mthTreasStmt/current.htm
Click to expand...

Eglish Proverb: One Swallow doesn't make a summer.

Can't speak for the US but January is when the British self-employed have to file their tax returns so we always get a spike in income around that time. It is the whole end of year accounts that matter.

Last time I checked the difference between the cost of servicing the US debt every year and the payments the government was able to pay was 125% of GDP. In layman's terms, you could take all the money made in America in a whole year and it still wouldn't pay the cost of servicing your debt. The only thing keeping you afloat is the size of your economy. The world bank can't afford for you to fail so they keep lending you money to make up the shortfall, thereby increasing your debt. Where does this money come from? A lot of it comes from the people you are trying to hurt.
 
DeYaKen said:
Eglish Proverb: One Swallow doesn't make a summer.

Can't speak for the US but January is when the British self-employed have to file their tax returns so we always get a spike in income around that time. It is the whole end of year accounts that matter.

Last time I checked the difference between the cost of servicing the US debt every year and the payments the government was able to pay was 125% of GDP. In layman's terms, you could take all the money made in America in a whole year and it still wouldn't pay the cost of servicing your debt. The only thing keeping you afloat is the size of your economy. The world bank can't afford for you to fail so they keep lending you money to make up the shortfall, thereby increasing your debt. Where does this money come from? A lot of it comes from the people you are trying to hurt.
Click to expand...

They could take the entire product of the western economies and it wouldn't be enough to pay off the total unfunded liabilities of the United states either, but that isn't what we're talking about. We're talking about the government booking "record tax revenues" year over year.:rolleyes:
 
Rightguide said:
They could take the entire product of the western economies and it wouldn't be enough to pay off the total unfunded liabilities of the United states either, but that isn't what we're talking about. We're talking about the government booking "record tax revenues" year over year.:rolleyes:
Click to expand...

Since the economy is expanding year on year It would be surprising if tax revenues did not to set records year on year. The question is are the revenues rising as fast as the economy is expanding.The answer is no they are not. If the economy grows at 3% the tax revenue would need to rise by more than 3% to be classed as an increase. It isn't the total number of dollars that matters, it is whether it is sufficient to prevent your debt getting bigger.
 
DeYaKen said:
Since the economy is expanding year on year It would be surprising if tax revenues did not to set records year on year. The question is are the revenues rising as fast as the economy is expanding.The answer is no they are not. If the economy grows at 3% the tax revenue would need to rise by more than 3% to be classed as an increase. It isn't the total number of dollars that matters, it is whether it is sufficient to prevent your debt getting bigger.
Click to expand...

That wasn't the question. You're answering a question that wasn't asked. The assertion was the government income was falling, my answer proved government revenues are increasing. The basic assertion and answer in and of itself isn't mitigated or corrected by anything you just posted.
 
Rightguide said:
They could take the entire product of the western economies and it wouldn't be enough to pay off the total unfunded liabilities of the United states either, but that isn't what we're talking about. We're talking about the government booking "record tax revenues" year over year.:rolleyes:
Click to expand...


https://www.cbo.gov/topics/budget


BUDGET PROJECTIONS FOR FY 2018
(As of April 2018)

OUTLAYS

$4.1 Trillion

REVENUES

$3.3 Trillion

DEFICIT

$804 Billion

DEBT HELD BY THE PUBLIC (End of Fiscal Year)

-------------------------------------
http://thehill.com/policy/finance/382033-deficit-nears-600-billion-in-first-half-of-2018

snip:

The federal budget deficit hit $598 billion in the first half of the 2018 fiscal year, according to the Congressional Budget Office, quickly outpacing the deficits of recent years.

At the same point in 2017, the deficit was $78 billion lower. That year, the entire deficit amounted to $666 billion, just 11% higher than the amount the U.S. government had to borrow in the first half of 2018.

The fast-increasing deficit expanded as government outlays grew 2.5 times faster than revenues. On the revenue side, which was up 2 percent over last year, the GOP tax reforms ate into individual tax revenue, and slashed corporate tax revenue by $22 billion, or 22 percent.


========================
https://www.forbes.com/sites/chuckj...t-deficit-1-trillion-and-beyond/#1769c878544f

snip:


The U.S. Federal deficit was $587 billion in Obama’s last year and it grew to $666 billion in Trump’s first year of his presidency. I’ve been reviewing a report from the U.S. Treasury Department, which shows that the U.S. Federal Deficit will probably increase this year (fiscal 2018), could come close to if not exceed $1 trillion in fiscal 2019 and will likely exceed $1 trillion in fiscal 2020 and beyond. And this is before the additional deficits created by the tax reform bill and the just passed two year budget. Note that the U.S. fiscal year ends in September.
 
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