Trump's Treasury Secretary Admits Tariffs Are Paid by Americans

[RoryN]

Welp...

Treasury Secretary Admits Trump’s Tariffs Are Paid by Americans

https://nz.news.yahoo.com/treasury-secretary-admits-trump-tariffs-193230724.html

 

[Wylie3]

Yep it's a way to boost inflation, so everybody loses

 

[Bray123]

It's what happens when you ban the teaching of history.

There was literally a war fought over tariffs and it wasn't because the English was paying them.

 

[Bray123]

https://www.cnbctv18.com/auto/new-u...an-auto-firms-like-tesla-gm-ford-19641729.htm

Toyota’s shares jumped nearly 14% after new US metal tariffs gave it a cost edge over American rivals like Ford and Tesla, who now face up to 55% tariffs on key raw materials, while Toyota only sees a 15% hike.​

Trump, 'I know more about going bankrupt than anyone else.'

 

[domroger]

Welp...

Treasury Secretary Admits Trump’s Tariffs Are Paid by Americans

https://nz.news.yahoo.com/treasury-secretary-admits-trump-tariffs-193230724.html

When is the new Secretary going to be announced?

 

[MajorRewrite]

Welp...

Treasury Secretary Admits Trump’s Tariffs Are Paid by Americans

https://nz.news.yahoo.com/treasury-secretary-admits-trump-tariffs-193230724.html

Bessent’s weaselly answer is typical for him. He desperately tries to spin his way out of telling the truth. The man is a turd.

 

[heathrowinneo]

Bessent’s weaselly answer is typical for him. He desperately tries to spin his way out of telling the truth. The man is a turd.

this administration is an outhouse

 

[coati]

Yep it's a way to boost inflation, so everybody loses

Actually, that's not an accurate statement. The Amerikan oligarchs went multinational a long time ago-- they will simply shift their.portfolio to the new list of winners in the international markets.

It's the real Americans who are losing big time-- the middle and lower economic classes.

This is a case of Amerika first and America last.

 

[Treeview]

E very one except Dunder headed MAGApublicans know that tariffs don’t work

There are too many dunderheads around theses days

 

[Rotadom]

Where's that drunk moron to tell us about how this works out well for the consumer?

 

[Pad_Foot]

It's what happens when you ban the teaching of history.

There was literally a war fought over tariffs and it wasn't because the English was paying them.

Pray tell us more!!!
Did the People get mad??
What did they do??

 

[Hel_Books]

Welp...

Treasury Secretary Admits Trump’s Tariffs Are Paid by Americans

https://nz.news.yahoo.com/treasury-secretary-admits-trump-tariffs-193230724.html

Thus ends the fantasy of increasing government tax revenues by taxing all foreigners living abroad.

Ask the fondling father of the MAGA movement how much Mexico paid towards his wall . ..

 

[wallstreetguy]

When I drive on highways, I pay the toll on my ez pass. When I buy gas, I pay the taxes as well. That is because I am consuming the good or service.
My neighbors who work at home do not have to pay those same taxes. That is fair. That is how it is supposed to be.
So, when you buy a shirt at Target and it costs an extra $1.50, you are helping to pay our national debt. Somebody has to. Tariffs are a tax on consumers, not just American citizens, obviously. That is literally how it works.

 

[Hel_Books]

When I drive on highways, I pay the toll on my ez pass. When I buy gas, I pay the taxes as well. That is because I am consuming the good or service.
My neighbors who work at home do not have to pay those same taxes. That is fair. That is how it is supposed to be.
So, when you buy a shirt at Target and it costs an extra $1.50, you are helping to pay our national debt. Somebody has to. Tariffs are a tax on consumers, not just American citizens, obviously. That is literally how it works.

It's a tax that distorts markets, though. In the nineteenth century the Corn Laws impoverished the British poor and in America tariffs incentivized corruption and kept American industries lazier and less efficient than they might have been.

 

[RoryN]

When I drive on highways

...you get cut off a lot?

Like this?

 

[MajorRewrite]

When I drive on highways, I pay the toll on my ez pass. When I buy gas, I pay the taxes as well. That is because I am consuming the good or service.
My neighbors who work at home do not have to pay those same taxes. That is fair. That is how it is supposed to be.
So, when you buy a shirt at Target and it costs an extra $1.50, you are helping to pay our national debt. Somebody has to. Tariffs are a tax on consumers, not just American citizens, obviously. That is literally how it works.

Don’t deflect.

Trump and the MAGA sheep pretend that TrumpTariffs are paid by foreign governments. This thread is celebrating that Treasury Secretary Bessent was forced to grudgingly admit tariffs are paid by Americans.

 

[wallstreetguy]

Don’t deflect.

Trump and the MAGA sheep pretend that TrumpTariffs are paid by foreign governments. This thread is celebrating that Treasury Secretary Bessent was forced to grudgingly admit tariffs are paid by Americans.

I work in analysis of things like this. The inflation numbers do not reflect higher prices at all, thus far. Walmart said they would raise some prices but that was for 50 products out of the tens of thousands they sell. The prices also went from $2 to $3, in most cases. That is a 50% rise, but it was a single buck.
Other chains like Costco and Home Depot are swallowing costs because they do not want to pass along even minor cost increases. Their stocks were unaffected and their earnings will swallow any losses.
Ultimately, consumers pay the price. But that is because they chose to consume. Companies are eating part of it. Those are facts, not deflection.
Try reading the words before you send half-assed replies.

 

[stxjimmy]

I work in analysis of things like this. The inflation numbers do not reflect higher prices at all, thus far. Walmart said they would raise some prices but that was for 50 products out of the tens of thousands they sell. The prices also went from $2 to $3, in most cases. That is a 50% rise, but it was a single buck.
Other chains like Costco and Home Depot are swallowing costs because they do not want to pass along even minor cost increases. Their stocks were unaffected and their earnings will swallow any losses.
Ultimately, consumers pay the price. But that is because they chose to consume. Companies are eating part of it. Those are facts, not deflection.
Try reading the words before you send half-assed replies.

When will the fruits of your work in analysing things like this appear? Looking forward to reading Tariffs For Dummies.

 

[Lazaran]

I work in analysis of things like this. The inflation numbers do not reflect higher prices at all, thus far. Walmart said they would raise some prices but that was for 50 products out of the tens of thousands they sell. The prices also went from $2 to $3, in most cases. That is a 50% rise, but it was a single buck.
Other chains like Costco and Home Depot are swallowing costs because they do not want to pass along even minor cost increases. Their stocks were unaffected and their earnings will swallow any losses.
Ultimately, consumers pay the price. But that is because they chose to consume. Companies are eating part of it. Those are facts, not deflection.
Try reading the words before you send half-assed replies.

wallstreetgurl seems to have ignored the pre-tariff bulk orders that companies placed to avoid the tariffs - and the resulting DELAY in price hikes (it was only a DELAY, as we are currently seeing prices rising incrementally- AFTER DonOld & the MAGAt republicans promised to LOWER prices).



And then there is the tax cuts, deregulations, and subsidies in DonOld & the MAGAt republicans’ One Butt Ugly Bill that are helping the rich & corporations bottom lines, but whose costs / negative impacts will disproportionately fall on the ALREADY struggling working class & the poor (We have seen / are seeing what happens with the economy AND the environment when the deregulation chickens come home to roost.



Of course, wallstreetgurl is obviously detached from the real economy (they likely benefit from the first trickle of their rich / corporate masters’ piss), so their "analysis" is undoubtedly bigly biased.



We. Told. Them. So.

 

[MajorRewrite]

Ultimately, consumers pay the price. But that is because they chose to consume. Companies are eating part of it.

You just agreed with us completely. American consumers and American businesses pay tariffs, despite what Trump and the MAGA sheep pretend.

 

[RoryN]

You just agreed with us completely. American consumers and American businesses pay tariffs, despite what Trump and the MAGA sheep pretend.

...and then wallstreetguy ran from the thread.

 

[coati]

...and then wallstreetguy ran from the thread.

Maybe he has to "analyze" a better way to deny the obvious.