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ECONOMICS AND THE TRUTH...ON TARIFFS
- homeagain
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11 Apr 2025 14:26 #1
by homeagain
ECONOMICS AND THE TRUTH...ON TARIFFS was created by homeagain
www.factcheck.org/2025/04/independent-an...ff-revenue-estimate/
“These tariff revenues, by the way, Jackie, $600, $700 billion they are going to raise a year, $6 trillion to $7 trillion over the 10-year period,” Navarro told Jackie DeAngelis, who hosted the Fox News show that day. “They’re going to help pay for the tax cuts. I’ll tell you this, Jackie. Every single dollar that comes in, in tariff revenues that we take from the foreigners who have been cheating us, are going to go right to the American public in terms of tax cuts and debt reduction.”
Navarro is wrong to suggest that the tariffs would be paid by “foreigners,” though foreign businesses could decide to “lower their prices to absorb some of the tariffs,” as the Tax Foundation explains. He also ignored the fact that tariffs, also known as customs duties, are a tax increase on the U.S. importers who pay the tariffs – not foreign countries. And because those importers often pass at least some of those costs on to U.S. consumers through price hikes, tariffs are considered to be regressive taxes that affect lower-income households more than others as a percentage of income.
“If you raise $600 billion more a year in revenue for the federal government, you are taking that amount away from individuals and businesses in the private economy,” the Wall Street Journal’s editorial board wrote in a late March piece.
“These tariff revenues, by the way, Jackie, $600, $700 billion they are going to raise a year, $6 trillion to $7 trillion over the 10-year period,” Navarro told Jackie DeAngelis, who hosted the Fox News show that day. “They’re going to help pay for the tax cuts. I’ll tell you this, Jackie. Every single dollar that comes in, in tariff revenues that we take from the foreigners who have been cheating us, are going to go right to the American public in terms of tax cuts and debt reduction.”
Navarro is wrong to suggest that the tariffs would be paid by “foreigners,” though foreign businesses could decide to “lower their prices to absorb some of the tariffs,” as the Tax Foundation explains. He also ignored the fact that tariffs, also known as customs duties, are a tax increase on the U.S. importers who pay the tariffs – not foreign countries. And because those importers often pass at least some of those costs on to U.S. consumers through price hikes, tariffs are considered to be regressive taxes that affect lower-income households more than others as a percentage of income.
“If you raise $600 billion more a year in revenue for the federal government, you are taking that amount away from individuals and businesses in the private economy,” the Wall Street Journal’s editorial board wrote in a late March piece.
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- FredHayek
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11 Apr 2025 14:58 #2
by FredHayek
Thomas Sowell: There are no solutions, just trade-offs.
Replied by FredHayek on topic ECONOMICS AND THE TRUTH...ON TARIFFS
The Left is always looking for a way to raise our taxes. Colorado Democrats are even trying to destroy TABOR.
But now they say tariffs are very regressive taxes. Just like the sales taxes in Colorado that keep climbing thanks to one party rule in Colorado cities. Plus all the fees they sneak in that are also very regressive.
But now they say tariffs are very regressive taxes. Just like the sales taxes in Colorado that keep climbing thanks to one party rule in Colorado cities. Plus all the fees they sneak in that are also very regressive.
Thomas Sowell: There are no solutions, just trade-offs.
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- Rick
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11 Apr 2025 15:32 #3
by Rick
The left is angry because they are now being judged by the content of their character and not by the color of their skin.
Replied by Rick on topic ECONOMICS AND THE TRUTH...ON TARIFFS
Factcheck.org is a complete joke. They were all on vacation for the last 4 years, apparently.
The left is angry because they are now being judged by the content of their character and not by the color of their skin.
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11 Apr 2025 16:13 #4
by Rick
The left is angry because they are now being judged by the content of their character and not by the color of their skin.
Replied by Rick on topic ECONOMICS AND THE TRUTH...ON TARIFFS
Factcheck.org is a complete joke. They were all on vacation for the last 4 years, apparently.
The left is angry because they are now being judged by the content of their character and not by the color of their skin.
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- Rick
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11 Apr 2025 16:13 #5
by Rick
The left is angry because they are now being judged by the content of their character and not by the color of their skin.
Replied by Rick on topic ECONOMICS AND THE TRUTH...ON TARIFFS
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The left is angry because they are now being judged by the content of their character and not by the color of their skin.
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11 Apr 2025 16:14 #6
by Rick
The left is angry because they are now being judged by the content of their character and not by the color of their skin.
Replied by Rick on topic ECONOMICS AND THE TRUTH...ON TARIFFS
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The left is angry because they are now being judged by the content of their character and not by the color of their skin.
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11 Apr 2025 16:15 #7
by Rick
The left is angry because they are now being judged by the content of their character and not by the color of their skin.
Replied by Rick on topic ECONOMICS AND THE TRUTH...ON TARIFFS
There appears to be no delete function… sorry for the spam
The left is angry because they are now being judged by the content of their character and not by the color of their skin.
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- homeagain
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11 Apr 2025 16:44 #8
by homeagain
mediabiasfactcheck.com/factcheck/
OH, I'M SORRY THE LINK INDICATES IT IS THE LEAST BIASED AND MOST ACCURATE....THE CUTE QUIPS THAT CONTINUE TO APPEAR R JUST THAT CUTE, BUT NOT NECESSARILY KNOWLEDGEABLE
Replied by homeagain on topic ECONOMICS AND THE TRUTH...ON TARIFFS
Rick wrote: Factcheck.org is a complete joke. They were all on vacation for the last 4 years, apparently.
mediabiasfactcheck.com/factcheck/
OH, I'M SORRY THE LINK INDICATES IT IS THE LEAST BIASED AND MOST ACCURATE....THE CUTE QUIPS THAT CONTINUE TO APPEAR R JUST THAT CUTE, BUT NOT NECESSARILY KNOWLEDGEABLE
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- Rick
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12 Apr 2025 08:10 #9
by Rick
The left is angry because they are now being judged by the content of their character and not by the color of their skin.
Replied by Rick on topic ECONOMICS AND THE TRUTH...ON TARIFFS
Least biased and most accurate? What does factcheck have to say about Biden’s little mental problems that were evident when he was running for president in 2020? Biden was the worst president we’ve ever had and I seriously don’t fackcheck focused on a single Biden lie, like “ the border is secure” or “white supremacy is the biggest threat to America”.
The left is angry because they are now being judged by the content of their character and not by the color of their skin.
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- homeagain
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12 Apr 2025 08:50 #10
by homeagain
Replied by homeagain on topic ECONOMICS AND THE TRUTH...ON TARIFFS
I DON'T AUTHOR THE FACTS, I JUST REPORT THEM. IT IS A FACT THAT THE LINK IS ACCURATE
AND MOST RELIABLE....END OF STORY.
AND MOST RELIABLE....END OF STORY.
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