I like keeping my money. I pay more in federal taxes than I get back at the end of the year. So I'll keep more money I'm game. I don't need to fund wars. I need to fund my family
That's the point buddy. You will have to spend more on everything after tariff increase. America only produces high end goods and everything mundane and low end is imported. So if you are not rich, you life will remain where it was. You will have to pay more for food , clothes, appliances , cosmetics etc.
I feel investors should focus on under-the-radar stocks, considering the current rollercoaster nature of the stock market, Because 35% of my $270k portfolio comprises plummeting stocks that were once revered. I don't know where to go here out of devastation.
@nicolette-t2y Since risk is at an all-time high right now, perhaps you should be a little more patient and return when it has decreased. Alternatively, you can consult a trained financial expert for strategy.
@@latoyia-z3n The decision on when to pick an Adviser is a very personal one. I take guidance from ‘Victoria Carmen Santaella‘ to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.
You don’t buy anything manufactured outside the U.S.? What computer are you using to watch TH-cam and respond on? You and your family use cellphones right? Your car never needs parts? I hope all the farmers and food distributors use only American parts with American-mined ore. I don’t think the potential 1% tax cut will actually lead to any significant gains for you. Maybe I’m wrong…
@@eliw6607Fair enough, choice is a luxury I’m glad we both have. You’ll probably still be forced to pay more for most goods you buy by the for-profit retailer that sells you them at higher cost, but I guess in some way that’s more favorable than the government asking the same.
Yes you will pay tariffs if you buy anything from car parts to new cars to anything you may use every day.. That American car most people think they bought has many many parts made in other countries. If you need parts for anything it may not be American. If you impose tariffs on other countries, make no mistake they will impose tariffs on US companies
Tariffs lower domestic costs. Learn basic economics like the American School of Economics that made America rich after the civil war. Liberals need you to lack a basic education so they can keep tricking you against your own interests
Printing money and gov spending are the main sources of inflation per every economist on Earth. Tariffs are not the best option for sure. So, what's your plan to address Chinese subsides and zero environmental regulations, that result in de facto unfair trade?
@@fenderblue9485 Gas prices aren't affected by tariffs, or more correctly stated, there won't be any tariffs on oil. It's this kind of ignorance that makes talking about solutions impossible. Gas prices WILL drop when Trump gets elected, and that means the price of goods will also drop.
Exactly. Things we dont make in the US will just be much more expensive. But they hope giving corporations money with reduce prices to balance out. Problem is now we have to depend on the kindness and fairness of corporations….
@@Kaodusanyawhat if they are stuck selling to us.. like they have the factories and we have the market… who else are they going to sell to.. this is sort of an American staple like for me I can charge much more because I take the time to provide quality.. people don’t have a choice but to pay more and they don’t have a choice but to pay the tariffs and continue to supply us because we are the biggest market in the world… in trying to figure this out and every single video online is debunking trumps ideas and this is the only one where somebody says anything positive
I'm fine paying more for items so they're made in America and provide American jobs. There are so many times we see a "growing economy" but it's not translating to middle class wages.
@@antthomas7916 we had the best economy, almost no inflation, we were energy independent, trump didn't give terrorists money and allow them to make billions of petroleum. Trump didn't start wars. There weren't buildings being set on fire by the woke. We had a secure border. You CANNOT DENY THE FACTS!!! PERIOD!
The economy will collapse with this ridiculous tariff plans!!! Here's an idea!!! Corporate profits are at record highs!!! Why are they not paying their fair share!!!!!???? We all benefit from the infrastructure and government run systems!!! Tariff plan, benefits corporate America even more !!!! Inflation is caused from price gouging by manufactures and corporate profit margins!
I think everyone is unsure of the exact ramifications of a big change in taxes like Trump's plan. But the economy would not magically collapse. Ideally I guess you want it to be a wash in tax revenue vs new tariff revenue. With the hopes that the new plan spurs manufacturing in the US cus it would be cheaper. But long term would probably need to change the plan again if manufacturing actually starts shifting back into the US. So wild idea in general. Corporate profits at record highs is wrong as well, some are. Have you seen any government run system run well that wasn't overpriced, past schedule, and worked efficiently? Not sure how the tariff plan benefits corporate America even more when nothing changes for them. You'll buy products and you are technically paying higher prices from tariffs. If the product or service is in/from the US, you paid less because you never paid an income tax and there was no tariff on it so it stayed the same price. I am not saying this tariff plan is better, but some of the things you said are wrong.
you realize tariffs is how this country was funded all the way till 1913 and was thriving. I mean you realize we became a country just to escape taxes and now you love taxes for some reason. Makes zero sense and honestly goes against the american way
There is no dispute that whatever tariff charged will be borne by the consumers. The real question is whether imposing more tariffs will incentivize companies to set up factories in the US, and thus creating more jobs for Americans. Presuming companies will move their manufacturing base back to the US, are there enough young Americans who are willing to work in manufacturing jobs?
Great point. And no, with unemployment at 3%, and his plan to deport illegals (thus shrink 2.1% of the workforce), anyone with a 5th grade education knows what will happen. Very surprised Republicans support this...
I enjoy seeing different perspectives on the issue. Really makes you think. The thing is….when I buy something, it’s my choice to buy it. I will always buy a US-made product. But again, my choice. I can choose to spend less if I want to. I would love to have tax-free income.
E.J. Antoni from the Heritage Foundations has no clue and is entirely incorrect. All the US tariffs on China were passed through to the manufacturer, distributor, and finally to the end user one way or another. China has never paid one dime to the US on US tariffs. I've been paying duties and tariffs for over 30 years and an expert domestic and international commodity trader supplying our nation's factories, distributors, and retail operations.
Why don't they just say it in one sentence? "Tariffs on goods from other countries will most certainly cause those countries to raise prices thier goods to recoup the losses from the tariffs, thereby indirectly taxing the American consumer en masse."
@lx5xk because every market is controlled by supply and demand. If you had a business and you wanted to earn X dollars, you can't base your sell price on that. The market and what people are willing to pay for a good or service controls the price.
@lx5xk no. Taxes are determined after profit and loss is evaluated. It doesn't work backwards. You can try to go backwards but your prices probably will not be viable for the market.
@lx5xk only something like a tariff that influences the cost is part of the price. Otherwise it's not. You can try selling a $30 hamburger if that's what you need to make a certain profit, but in the end the market determines the price. It's literally Econ 101.
If you don't have a monopoly on a necessity, any corporate tax increase will be split between an increase in your prices and a drop in your profits. The balance between the two depends on the elasticity of demand for your product
Are you aware that the US government gets truly of dollars every year from immigrants coming into this country or renewing their status? Guess where that money goes. On top of that, the documented illegals that are here as she paid more in taxes guess where that money goes. There has been way before Biden.
Yes you will pay tariffs if you buy anything from car parts to new cars to anything you may use every day.. That American car most people think they bought has many many parts made in other countries. If you need parts for anything it may not be American. If you impose tariffs on other countries, make no mistake they will impose tariffs on US companies
If you impose tariffs on other countries make no mistake they will impose tariffs on US companies. Tariffs encourage outsourcing jobs and less trade, economy calapse.
@@profsherlockmoriarty The United States-Mexico-Canada Agreement (USMCA) aims to create a more balanced trade agreement between the three countries, leading to economic growth and fairer trade. The USMCA is for trade between these countries only, not any other countries internationally. Tariffs/taxes between the USA and other countries have nothing to do with Canada or Mexico. If the USA imposes tariffs just to impose tariffs other countries will reciprocated 
VATs/tariffs are used by most of the 1st and 2nd world, in fact the US is one of only a few dozen nations worldwide that does not do it... and I have to look at why. Every nation I can think of that has the "low tariff free trade" model has a massive divide between workers and business owners, and yes that includes the US and Haiti. What we been doing has not worked. Perhaps listening to the rest of the worlds economists will.
There's a long-standing point of view that income tax rates may reach a point of diminishing utility by reducing incentives to do business. But the US Constitution provides the Federal government with limited sources of revenue, of which the principal ones are income tax and import-export tariffs. The Federal government, unlike state governments, does not have the power to tax assets, which is why there is no billionaires' tax. Tariffs are taxes on goods, not unlike a VAT or local sales taxes. Like other taxes on goods, tariffs do not cause monetary inflation, which is a systematic reduction in currency value. Tariffs are more difficult than sales taxes to pass onto consumers, because imported goods have to compete against domestically produced goods, which don't have tariffs, and that constrains importers' ability to pass price increases along to consumers - certainly, they can't do it systematically, which is the hallmark of monetary inflation. As a result, and in view of the fiscal challenges faced by the US government, tariffs could help the US economy, especially to the extent they are not counterbalanced by income tax cuts.
I agree with Trump, this would help out so many Americans. Me personally i don’t buy things imported from other countries that much, which i can choose to not buy stuff thats imported in the first place. I’m just tired of giving my hard earned money away to the government, the over time hours we work is all for nothing cause it gets taken away from us and thats not fair and very frustrating.
So I don’t have to sit here and watch this whole thing, does this mean that everybody’s gonna have more of their hard earned money from their paychecks in their pockets???
It would eventually work similarly to a flat tax and drastically disproportionately affect the lower income earners. This tariff plan is the worst one I have ever heard from a Politician.
The government was funded by tariffs and user fees before the income tax was proposed. There was possibly a temporary tax following the Civil war that was discontinued. What would our current governance do if the income tax was replaced with tariffs and user fees, not income taxes. There was a luxury tax placed on phone lines. since the people got more phones, the government(s) changed the name from a luxury tax to a service tax and after some time, created the 911 service to justify the tax
Tariffs are a good idea because they're on consumption, not from income. Also, it might incentive foreign companies to open up manufacturing plants in the US
One thing no one is mentioning here is a balance budget. If you reduce government spending you wouldn’t need the other corporate 7%. Lower taxes cut spending and F’n learn how to budget spending what you receive! If you don’t have the cash you don’t buy!
Just let me do some simple math: US import volume is about 3.2 trillion - if one applies suggested 10 … 20% tariffs, you‘ll get about 600 billion (max) additional income, right? Well, tax cuts may cost what? 4 trillion? So, I calculate a remaining gap of 3.4 trillion, which is not yet financed. Simple question: how much the GDP must grow (job growth), to add additional 3.4 trillion (with lowered taxes)? Actual GDP is approximately 29 trillion, this results in roughly 4 trillion tax income. It means, US would need to nearly double GDP to finance remaining gap of tax cuts. Sounds fairly unrealistic … it would mean a drastic increase in US deficit. This would result in inflation. US government and we tax payers have no tax problem, but a spending problem, aren‘t we?
As one with an econ background, I'm not a fan of tariffs. I'm open alternative solutions. How to address China's subsides of industry, and essentially zero environmental regulations, ..that eliminate fair and real competition?
The thing is: corporate profit translate most of the time by shareholder profit. This Trump Tax is just a wealth transfer, taking from middle class and giving to "shareholder" class increasing, by doing so, wealth inequality.
I'm so embarrassed for us. This reminds me of the early 2000's on the Climate Change topic where there would be 50% of the screen would be one person representing the science of climate change (that 99% of scientists agreed with) and 50% of the screen that a Climate Change denier would be given equal time. If 90% of economists think that tariffs are bad, at least a larger number of guests that represent that (2:1 or 3:1 would be enough - if that is correct) and come with Economic evidence. Economics is data driven, and stock trading is easily discussed using data/numbers. Know your viewers and show the data - embarrassing how we are still dumbing down these topics even on a stage where the audience can easily understand the data.
@@teebone2157 Yes , I bought a house and the company I worked for started investing and growing the company , I got a promotion and a $18000 a year raise the second year Trump was in office ! It has been stagnant the past 3 years .
@@jps101574 The company I worked for over ten years started investing in the company and I got a promotion , $18000 per year increase with at least 10000 more in overtime the second year Of the Trump administration and yes 3.5 % interest rate did help a lot especially in California !
Imagine being so gullible that a billionaire real estate mogul makes you believe that reducing corporate tax rates and introducing tariffs is somehow in YOUR interest / better for YOUR pocket 😂
What would end up happening is that we would slowly begin to purchase more made in the U.S. products which would be equivalent to the goods prices coming from overseas (otherwise the foreign goods wouldn’t sell here). The foreign companies would price their products to be competitive in OUR American markets. So long term U.S. companies grow & expand & hire more people with decent wages. Then those workers (able to keep more of their $$) would be able to buy more. Also YES - Elon would run his governmental efficiency audit to crackdown on all the wasteful spending. I think people still pretend that Trump is stupid & doesn’t know what he’s doing. Obviously tariff’s would NOT be levied on every good that comes into the country - honestly everything would be looked at on a case by case basis. I.e. if China is making a 1000% profit in the U.S. for selling a DVD player and an American company can only make a 300% profit … YES that would be a good on which to add a tariff & China’s profits would have to equalize closer to that of a U.S. company IF they want to sell products in our country.
If duties on good getting imported into the US go up...then retail price will be up. If duties on exports go up.... Retail Prices will go down, also corporate profits for exporters go down too. Export Industry could shrink a bit. ....Less Gold into US if it were the 20s. Tax on citizens should be Low, rather Minimum Pay should be linked to inflation as closely as possible.
is he suggesting foreign companies pay tax inn the usa I don't think thats how it works if it did they would have no reason to produce products overseas
I’d rather have the choice of buying a product and pay the “tariff/tax” or not buying the product. If I’m “Taxed” by lower pay, or lower dividends I don’t have that choice. If I don’t purchase that Chinese tariffed made product they will usually lower the price. If they do, I win because of the lower taxes and America wins
@@mrmanoriginaltakes I did.. that’s what the rational guy said as opposed to the republican corporate puppet that want to give corporations a tax break so that everyone else can pay higher taxes said. It sounds like you didn’t listen and understand
@@mrmanoriginaltakes what part of tariffs are a tax on the consumer don’t YOU understand? Go look up the speech that where Trump told his billionaire donors that he would lower their taxes.. sounds like YOU need to actually listen and understand
@@mrmanoriginaltakes I’m assuming you’re a trumper/cult member since you’re telling me to do mental gymnastics to “understand” what Trump meant to say.. again.. why don’t YOU go read what Trump said and his tax plan and tell me that it makes sense. Literally no economist say it’s good
@@volfancp Covid. Did you forget about that? Without 2020, his spending was pretty much in line with Obama's and Joetato's deficits. Go look up the numbers by year for yourself. And if you want to get technical, while trump did sign them, the left's congress/senate spent the money. The left forced everyone to stay home which created the apparent need for the government to mail out checks. I won't let Trump entirely off the hook, but most of that is the democrat's fault.
You need both. As a income tax can supplement trade. And economy. For the ta ride to work. What if their is a r suc s line of sp nsing their will be a panic like a stock market. This income tax is reliable, but a ta off is c optical/necessary for the government to keep up with the gdp.
BS dude! Corporations do not lower prices on good and services because they have a lower tax rate. Jesus such a tool! They may pay themselves more and they benefit from their share price going up.
Love when EJ (Heritage Foundation person) says 'economics say' without citing anyone. Classic Neo Republicans playbook. And the dem fell for it. Classic glass jawed Democrat.
I enjoy seeing different perspectives on the issue. Really makes you think. The thing is….when I buy something, it’s my choice to buy it. I will always buy a US-made product. But again, my choice. I can choose to spend less if I want to. I would love to have tax-free income.
I like keeping my money. I pay more in federal taxes than I get back at the end of the year. So I'll keep more money I'm game. I don't need to fund wars. I need to fund my family
That's the point buddy. You will have to spend more on everything after tariff increase. America only produces high end goods and everything mundane and low end is imported. So if you are not rich, you life will remain where it was. You will have to pay more for food , clothes, appliances , cosmetics etc.
I feel investors should focus on under-the-radar stocks, considering the current rollercoaster nature of the stock market, Because 35% of my $270k portfolio comprises plummeting stocks that were once revered. I don't know where to go here out of devastation.
@nicolette-t2y Since risk is at an all-time high right now, perhaps you should be a little more patient and return when it has decreased. Alternatively, you can consult a trained financial expert for strategy.
@@huong-f9t I have been considering going the same route, could you share more info please on the advisor that guides you.
@@latoyia-z3n The decision on when to pick an Adviser is a very personal one. I take guidance from ‘Victoria Carmen Santaella‘ to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.
@@huong-f9t Thank you for the lead. I searched for her, and I sent her an email. I hope she gets back to me soon.
Just hold and if you want to buy do gold or silver
Tariffs are better than income tax because nobody will force me to buy the taxed goods. I am forced to pay income tax.
You know we only supposed to paid taxes to support the Civil War. We been robbed for years.
You don’t buy anything manufactured outside the U.S.? What computer are you using to watch TH-cam and respond on? You and your family use cellphones right? Your car never needs parts? I hope all the farmers and food distributors use only American parts with American-mined ore. I don’t think the potential 1% tax cut will actually lead to any significant gains for you. Maybe I’m wrong…
@@ElJuanMango Force vs choice. I'll take choice.
@@eliw6607Fair enough, choice is a luxury I’m glad we both have. You’ll probably still be forced to pay more for most goods you buy by the for-profit retailer that sells you them at higher cost, but I guess in some way that’s more favorable than the government asking the same.
Yes you will pay tariffs if you buy anything from car parts to new cars to anything you may use every day..
That American car most people think they bought has many many parts made in other countries.
If you need parts for anything it may not be American.
If you impose tariffs on other countries, make no mistake they will impose tariffs on US companies
If you’re mad about inflation, you’re going to really dislike what tariffs do.
Yeah. Its a “hold my beer” moment. Lol.
@@ObsidianOverloadyou probably complain about gas prices 😂 just wait! You will be crying.
Tariffs lower domestic costs. Learn basic economics like the American School of Economics that made America rich after the civil war. Liberals need you to lack a basic education so they can keep tricking you against your own interests
Printing money and gov spending are the main sources of inflation per every economist on Earth.
Tariffs are not the best option for sure.
So,
what's your plan to address Chinese subsides and zero environmental regulations, that result in de facto unfair trade?
@@fenderblue9485 Gas prices aren't affected by tariffs, or more correctly stated, there won't be any tariffs on oil. It's this kind of ignorance that makes talking about solutions impossible. Gas prices WILL drop when Trump gets elected, and that means the price of goods will also drop.
WTF CNBC???? You have an ‘economist’ from the Heritage Foundation on here? Do you have any respect for your channel?
This doesn’t make sense, wouldn’t higher tariff rates mean foreign companies wouldn’t want to sell their products in the United States?
Exactly. Things we dont make in the US will just be much more expensive. But they hope giving corporations money with reduce prices to balance out. Problem is now we have to depend on the kindness and fairness of corporations….
@@Kaodusanyawhat if they are stuck selling to us.. like they have the factories and we have the market… who else are they going to sell to.. this is sort of an American staple like for me I can charge much more because I take the time to provide quality.. people don’t have a choice but to pay more and they don’t have a choice but to pay the tariffs and continue to supply us because we are the biggest market in the world… in trying to figure this out and every single video online is debunking trumps ideas and this is the only one where somebody says anything positive
I'm fine paying more for items so they're made in America and provide American jobs.
There are so many times we see a "growing economy" but it's not translating to middle class wages.
We don’t have a revenue problem, we have a spending problem
Cut spending and raise rates.
Yet Reps under what's his name had the largest deficit increases in decades - long before Covid happened.
@@robertjones2282
Consumer spending?
@@hicrhodushicsalta6648no government spending
@@xxjared0571
No paychecks?
Interviewing the Heritage Foundation? The Project 2025 guys?
Yeah…notice his red tie and blue suit uniform…coincidence??
Yes I know you guys hate hearing anying outside of your vacuum. Sorry, little man. *pat pat*
@@maureenharrington3547 Please!
Also the same foundation that is still against tariffs. lol. "The Proof Is In: Tariffs Are Hurting the U.S."
Exactly ! CNBC is in the Tank for Trump
No income taxes. No jewdicial supremacy
The heritage guy is nuts. When prices were added, prices went up.
Tariffs are an awful idea. I don't care if Bruce Wayne is proposing tariffs.
Bruce Wayne would benefit from this almost exclusively.
Joe Biden was a terrible idea.
Lmao!! @@blackmcbain3145
@@adambarras6566 Trump is also a bad idea.
@@antthomas7916 we had the best economy, almost no inflation, we were energy independent, trump didn't give terrorists money and allow them to make billions of petroleum. Trump didn't start wars. There weren't buildings being set on fire by the woke. We had a secure border. You CANNOT DENY THE FACTS!!! PERIOD!
The economy will collapse with this ridiculous tariff plans!!!
Here's an idea!!!
Corporate profits are at record highs!!!
Why are they not paying their fair share!!!!!????
We all benefit from the infrastructure and government run systems!!!
Tariff plan, benefits corporate America even more !!!!
Inflation is caused from price gouging by manufactures and corporate profit margins!
that's what the dems howled in 2016. now they agree tariffs work. fair share? half of us citizens pay no income tax..
As a result these corp go overseas hurting everyone so much more.
I think everyone is unsure of the exact ramifications of a big change in taxes like Trump's plan. But the economy would not magically collapse. Ideally I guess you want it to be a wash in tax revenue vs new tariff revenue. With the hopes that the new plan spurs manufacturing in the US cus it would be cheaper. But long term would probably need to change the plan again if manufacturing actually starts shifting back into the US. So wild idea in general.
Corporate profits at record highs is wrong as well, some are.
Have you seen any government run system run well that wasn't overpriced, past schedule, and worked efficiently?
Not sure how the tariff plan benefits corporate America even more when nothing changes for them. You'll buy products and you are technically paying higher prices from tariffs. If the product or service is in/from the US, you paid less because you never paid an income tax and there was no tariff on it so it stayed the same price.
I am not saying this tariff plan is better, but some of the things you said are wrong.
you realize tariffs is how this country was funded all the way till 1913 and was thriving. I mean you realize we became a country just to escape taxes and now you love taxes for some reason. Makes zero sense and honestly goes against the american way
Wrong.... you must be skewed
There is no dispute that whatever tariff charged will be borne by the consumers. The real question is whether imposing more tariffs will incentivize companies to set up factories in the US, and thus creating more jobs for Americans. Presuming companies will move their manufacturing base back to the US, are there enough young Americans who are willing to work in manufacturing jobs?
Great point. And no, with unemployment at 3%, and his plan to deport illegals (thus shrink 2.1% of the workforce), anyone with a 5th grade education knows what will happen. Very surprised Republicans support this...
🎯
I don't care if factory jobs paid me $50 an hour...no fkn way I'd ever want that job
Imagine taking economic advice from a guy who has filed for bankruptcy 6 times and has been found guilty of fraud in 3 different businesses.
Which guy
He's started over 100 businesses, and 6 went bankrupt.
Rather impressive.
bankruptcy is also to pay creditors as you can. the fraud trials are a sham. what else do you have?
@@MarcPagan It's not hard to run a "successful" business when you don't pay your bills.
@@antthomas7916 In poker or business...never throw good money after bad.
Ask New Coke, TED Airlines, etc. :)
I enjoy seeing different perspectives on the issue. Really makes you think. The thing is….when I buy something, it’s my choice to buy it. I will always buy a US-made product. But again, my choice. I can choose to spend less if I want to. I would love to have tax-free income.
National Heritage Foundation AGAIN!!!!
E.J. Antoni from the Heritage Foundations has no clue and is entirely incorrect. All the US tariffs on China were passed through to the manufacturer, distributor, and finally to the end user one way or another. China has never paid one dime to the US on US tariffs. I've been paying duties and tariffs for over 30 years and an expert domestic and international commodity trader supplying our nation's factories, distributors, and retail operations.
Why don't they just say it in one sentence?
"Tariffs on goods from other countries will most certainly cause those countries to raise prices thier goods to recoup the losses from the tariffs, thereby indirectly taxing the American consumer en masse."
Tariffs almost ruined farmers.
No it did RUIN them.
Falacy #1...corporate tax rates are NOT passed on to the consumer. Prices are set based on supply and demand, NOT on a profit target.
You’re right! Apple has a 38% margin and that’s always what demand is!
@lx5xk because every market is controlled by supply and demand. If you had a business and you wanted to earn X dollars, you can't base your sell price on that. The market and what people are willing to pay for a good or service controls the price.
@lx5xk no. Taxes are determined after profit and loss is evaluated. It doesn't work backwards. You can try to go backwards but your prices probably will not be viable for the market.
@lx5xk only something like a tariff that influences the cost is part of the price. Otherwise it's not. You can try selling a $30 hamburger if that's what you need to make a certain profit, but in the end the market determines the price. It's literally Econ 101.
If you don't have a monopoly on a necessity, any corporate tax increase will be split between an increase in your prices and a drop in your profits. The balance between the two depends on the elasticity of demand for your product
Add in 11 million illegal immigrants; on the US and their spending spree…. They should be sued by every American
Absolutely
Are you aware that the US government gets truly of dollars every year from immigrants coming into this country or renewing their status? Guess where that money goes. On top of that, the documented illegals that are here as she paid more in taxes guess where that money goes. There has been way before Biden.
Yes you will pay tariffs if you buy anything from car parts to new cars to anything you may use every day..
That American car most people think they bought has many many parts made in other countries.
If you need parts for anything it may not be American.
If you impose tariffs on other countries, make no mistake they will impose tariffs on US companies
If you impose tariffs on other countries make no mistake they will impose tariffs on US companies.
Tariffs encourage outsourcing jobs and less trade, economy calapse.
It just means international companies will export certain goods to Mexico and Canada and transport them into the US via USMCA.
@@profsherlockmoriarty The United States-Mexico-Canada Agreement (USMCA) aims to create a more balanced trade agreement between the three countries, leading to economic growth and fairer trade. The USMCA is for trade between these countries only, not any other countries internationally.
Tariffs/taxes between the USA and other countries have nothing to do with Canada or Mexico.
If the USA imposes tariffs just to impose tariffs other countries will reciprocated

VATs/tariffs are used by most of the 1st and 2nd world, in fact the US is one of only a few dozen nations worldwide that does not do it... and I have to look at why.
Every nation I can think of that has the "low tariff free trade" model has a massive divide between workers and business owners, and yes that includes the US and Haiti.
What we been doing has not worked. Perhaps listening to the rest of the worlds economists will.
Interestingly enough before 1913 (the year federal income tax started) tarrifs funded the government
There's a long-standing point of view that income tax rates may reach a point of diminishing utility by reducing incentives to do business. But the US Constitution provides the Federal government with limited sources of revenue, of which the principal ones are income tax and import-export tariffs. The Federal government, unlike state governments, does not have the power to tax assets, which is why there is no billionaires' tax. Tariffs are taxes on goods, not unlike a VAT or local sales taxes. Like other taxes on goods, tariffs do not cause monetary inflation, which is a systematic reduction in currency value. Tariffs are more difficult than sales taxes to pass onto consumers, because imported goods have to compete against domestically produced goods, which don't have tariffs, and that constrains importers' ability to pass price increases along to consumers - certainly, they can't do it systematically, which is the hallmark of monetary inflation. As a result, and in view of the fiscal challenges faced by the US government, tariffs could help the US economy, especially to the extent they are not counterbalanced by income tax cuts.
I agree with Trump, this would help out so many Americans. Me personally i don’t buy things imported from other countries that much, which i can choose to not buy stuff thats imported in the first place. I’m just tired of giving my hard earned money away to the government, the over time hours we work is all for nothing cause it gets taken away from us and thats not fair and very frustrating.
You think you don't. But most of the parts even inside "American" companies come from abroad. You think k they are just going to eat that cost?
May we have a sales tax replace the income tax?
So I don’t have to sit here and watch this whole thing, does this mean that everybody’s gonna have more of their hard earned money from their paychecks in their pockets???
What tax plan , we will be paying for it as innocent people…😢
The average worker wouldn't see more than a $10.00 increase in pay and higher prices because of tariffs would eat that up and then some.
It would eventually work similarly to a flat tax and drastically disproportionately affect the lower income earners. This tariff plan is the worst one I have ever heard from a Politician.
Really solid discussion on tariffs but it’s very clear that the guy with glasses just doesnt like Trump.
So essentially sales tax will be increased for removing income tax. I like it on paper
The government was funded by tariffs and user fees before the income tax was proposed. There was possibly a temporary tax following the Civil war that was discontinued. What would our current governance do if the income tax was replaced with tariffs and user fees, not income taxes. There was a luxury tax placed on phone lines. since the people got more phones, the government(s) changed the name from a luxury tax to a service tax and after some time, created the 911 service to justify the tax
Tariffs are a good idea because they're on consumption, not from income. Also, it might incentive foreign companies to open up manufacturing plants in the US
Never happen. They won’t sacrifice jobs in their own countries to build crap here in the US..Cars are the exception
So what you want is austerity imposed by higher prices thanks to tariffs
@@production58To retain the US market? I think you underestimate foreign companies’ patriotism
@@production58*overestimate
Jason Furman makes sense. All goods will be more expensive because of higher tariffs. Common Sense!!
One thing no one is mentioning here is a balance budget. If you reduce government spending you wouldn’t need the other corporate 7%.
Lower taxes cut spending and F’n learn how to budget spending what you receive! If you don’t have the cash you don’t buy!
Clearly, this is a massive transfer of wealth from the poor and middle class who desperately need the money to the wealthy who don't.
Just let me do some simple math: US import volume is about 3.2 trillion - if one applies suggested 10 … 20% tariffs, you‘ll get about 600 billion (max) additional income, right? Well, tax cuts may cost what? 4 trillion? So, I calculate a remaining gap of 3.4 trillion, which is not yet financed. Simple question: how much the GDP must grow (job growth), to add additional 3.4 trillion (with lowered taxes)? Actual GDP is approximately 29 trillion, this results in roughly 4 trillion tax income. It means, US would need to nearly double GDP to finance remaining gap of tax cuts. Sounds fairly unrealistic … it would mean a drastic increase in US deficit. This would result in inflation. US government and we tax payers have no tax problem, but a spending problem, aren‘t we?
Government cuts. First $70 billion on foreign aid cut the irs another $17 billion. Just make some cuts
@@fmanion24 okay, we have one drop in the ocean … the first 2.5% … 97.5% remaining gap. Ideas?
I have a silly idea! How about the Government stop wasting tax payer money and balance our budget!
As one with an econ background, I'm not a fan of tariffs.
I'm open alternative solutions.
How to address China's subsides of industry, and essentially zero environmental regulations,
..that eliminate fair and real competition?
The thing is: corporate profit translate most of the time by shareholder profit. This Trump Tax is just a wealth transfer, taking from middle class and giving to "shareholder" class increasing, by doing so, wealth inequality.
I'm so embarrassed for us. This reminds me of the early 2000's on the Climate Change topic where there would be 50% of the screen would be one person representing the science of climate change (that 99% of scientists agreed with) and 50% of the screen that a Climate Change denier would be given equal time.
If 90% of economists think that tariffs are bad, at least a larger number of guests that represent that (2:1 or 3:1 would be enough - if that is correct) and come with Economic evidence.
Economics is data driven, and stock trading is easily discussed using data/numbers. Know your viewers and show the data - embarrassing how we are still dumbing down these topics even on a stage where the audience can easily understand the data.
This makes you wonder what Northern Illinois University is teaching to their students.
I’m not worried , Trump was in office before with the same policies , I started making more money and bought a house .
2% tax cut bought you a house?????
@@teebone2157 Yes , I bought a house and the company I worked for started investing and growing the company , I got a promotion and a $18000 a year raise the second year Trump was in office ! It has been stagnant the past 3 years .
Yes. But interest rates were much lower. That has nothing to do with Trump
@@jps101574 The company I worked for over ten years started investing in the company and I got a promotion , $18000 per year increase with at least 10000 more in overtime the second year Of the Trump administration and yes 3.5 % interest rate did help a lot especially in California !
Trump 2024!
I'd love to take much higher price for no income tax return. Tax code is just a joke.
Hopefully things get more expensive and people go on a spending diet. The idea about building an economy on money printing and credit is a problem
Imagine being so gullible that a billionaire real estate mogul makes you believe that reducing corporate tax rates and introducing tariffs is somehow in YOUR interest / better for YOUR pocket 😂
Imagine not researching before making a fool of oneself.
it is if you invest and save. ok millenial?
Imagine a world without this vapid, pretentious formulation
Jason is correct…
No he’s not
Democrats talking about how to do anything financial is a laughable comedy skit!!
I take economic advice from the guy with six bankruptcies.
VOTE FOR WHO LESSENS OUR TAX. WE DO NOT WANT TO PAY FOR THE RICH AND POOR ANYMORE.
STOP SPENDING!!!!
Huh? So, let's talk about what's in effect right now. And the high prices I'm paying for everything. Can y'all talk about that
Does this mean food as well? Or things like cars or houses? Or just luxury items like tvs toys ect
What would end up happening is that we would slowly begin to purchase more made in the U.S. products which would be equivalent to the goods prices coming from overseas (otherwise the foreign goods wouldn’t sell here). The foreign companies would price their products to be competitive in OUR American markets.
So long term U.S. companies grow & expand & hire more people with decent wages. Then those workers (able to keep more of their $$) would be able to buy more.
Also YES - Elon would run his governmental efficiency audit to crackdown on all the wasteful spending.
I think people still pretend that Trump is stupid & doesn’t know what he’s doing. Obviously tariff’s would NOT be levied on every good that comes into the country - honestly everything would be looked at on a case by case basis. I.e. if China is making a 1000% profit in the U.S. for selling a DVD player and an American company can only make a 300% profit … YES that would be a good on which to add a tariff & China’s profits would have to equalize closer to that of a U.S. company IF they want to sell products in our country.
Yes, we do. We have less revenue. This is why we have debt.
Was jason zooming from the bathroom?
I’m now certainly voting Trump
Me too. Former democrat. Sick of being gas lit.
If duties on good getting imported into the US go up...then retail price will be up.
If duties on exports go up.... Retail Prices will go down, also corporate profits for exporters go down too. Export Industry could shrink a bit. ....Less Gold into US if it were the 20s.
Tax on citizens should be Low, rather Minimum Pay should be linked to inflation as closely as possible.
Do you not see how that would create an even more direct feedback loop, so 2 speak?
Make it all in America and there is no tariff!
Have you used american made products?
@roberto50325 I will when they onshore their production to avoid the tariffs!
Oh yeah and it brings jobs back, what a great idea.
And raises the price on products. You good with that?
@@steveguillory7568 it's already raised genius, America can make goods on these prices and create jobs.
@@petegww if you think prices are high now, just wait genius.
INFLATION will go UP!
Keep state tax for state services but get ride of federal.
Them soybean farmers are ready.
is he suggesting foreign companies pay tax inn the usa I don't think thats how it works if it did they would have no reason to produce products overseas
Timmy
Funding for ENDLESS WARS will CONTINUE ! OUR ITEMS from : Forks - Vehicles, etc….. WILL COST A LOT MORE
WTF is the Heritage guy talking about. He is clueless.
Ask them soybean farmers.
These people at this news network are clueless. Omg. Now do Biden…. Oh wait… you can’t.
Sooooo ITEMS FROM _____ WILL COST US ( Poor / DWINDLING Middle Classes !👎🏽🤬
I’d rather have the choice of buying a product and pay the “tariff/tax” or not buying the product. If I’m “Taxed” by lower pay, or lower dividends I don’t have that choice. If I don’t purchase that Chinese tariffed made product they will usually lower the price. If they do, I win because of the lower taxes and America wins
So he’s lowering taxes for corporations so that ppl can pay higher taxes.. got it
You need to listen and understand
@@mrmanoriginaltakes I did.. that’s what the rational guy said as opposed to the republican corporate puppet that want to give corporations a tax break so that everyone else can pay higher taxes said. It sounds like you didn’t listen and understand
@@mrmanoriginaltakes what part of tariffs are a tax on the consumer don’t YOU understand? Go look up the speech that where Trump told his billionaire donors that he would lower their taxes.. sounds like YOU need to actually listen and understand
@@senorflowers listen with your ears and respond with your mind after you have digested the information. You are emotional right now!
@@mrmanoriginaltakes I’m assuming you’re a trumper/cult member since you’re telling me to do mental gymnastics to “understand” what Trump meant to say.. again.. why don’t YOU go read what Trump said and his tax plan and tell me that it makes sense. Literally no economist say it’s good
I thought Republicans cared about deficits?
The GOP removed any mention to deficits or a balanced budget from their platform at this year's convention.
Right. Then why did deficits GO UP to record levels under Trump???
Lower tax rates = more tax revenue
..to a point.
Research finds 18% to be the best income tax rate per the Laffer Curve.
@@volfancp Covid. Did you forget about that? Without 2020, his spending was pretty much in line with Obama's and Joetato's deficits. Go look up the numbers by year for yourself. And if you want to get technical, while trump did sign them, the left's congress/senate spent the money. The left forced everyone to stay home which created the apparent need for the government to mail out checks. I won't let Trump entirely off the hook, but most of that is the democrat's fault.
You thought Trump 1.0 8 years was bad!
Trump 2.0 2nd term will be on steroids! 😮😮
Thats why you produce in the united states
This guy said not a single fact
You need both. As a income tax can supplement trade. And economy. For the ta ride to work. What if their is a r suc s line of sp nsing their will be a panic like a stock market. This income tax is reliable, but a ta off is c optical/necessary for the government to keep up with the gdp.
Simple put, tariff is their for the government to keep up with the gdp.
Yes, we need to mandate higher wages and lower returns for investors- we agree.
The old school GOPers are dinosaurs….
trickle up economics
Headed towards economic disaster.
Inflation
Heritage guy arguing that corporations don’t pay taxes and then argues that tariffs will be paid for by foreign corporations. Which is it?
One guy looks like he just got off work from a meat packing plant. The other guy looks like a professor. I know which I believe 😂
lmao!
Trump ❤
Again…He’s from the freakin Heritage Foundation !! A nightmare !
Rocket scientists you are not... don't buy foreign made, American made = no tariffs d'oh
The Heritage Guy . WTF 😂😂😂
Yeah bc corporations share their profits with anyone but themselves
BS dude! Corporations do not lower prices on good and services because they have a lower tax rate. Jesus such a tool! They may pay themselves more and they benefit from their share price going up.
Love when EJ (Heritage Foundation person) says 'economics say' without citing anyone. Classic Neo Republicans playbook. And the dem fell for it. Classic glass jawed Democrat.
sooo predictable.
LOL ...
E. J. is from the Heritage Foundation. Oh, NO!!!
Any given Chinese trinket TODAY:
$1.00
IF DonOld gets back in the WH:
Same trinket $2.00
Any questions?
I enjoy seeing different perspectives on the issue. Really makes you think. The thing is….when I buy something, it’s my choice to buy it. I will always buy a US-made product. But again, my choice. I can choose to spend less if I want to. I would love to have tax-free income.