Trump's new massive tax faces Republican block

[mentalfloss]

Bringing people together through leftism. :lol:


Trump's 'job traitor' tax plan faces Republican block

Republican House Majority Leader Kevin McCarthy on Monday refused to endorse Mr Trump's plan to place 35% tariffs on relocated companies.

His comments come in response to Mr Trump tweets over the weekend.

"There will be a tax on our soon to be strong border of 35% for these companies," Mr Trump wrote.

"This tax will make leaving financially difficult…Please be forewarned prior to making a very expensive mistake! THE UNITED STATES IS OPEN FOR BUSINESS!", he wrote in a series of social media posts.

Mr Trump's call to tax imports on goods made by firms that relocate would need to pass through Congress, where Republican orthodoxy includes devotion to free-market principles.

Mr Trump should instead keep companies in the US by changing the tax code and lowering the rate that businesses must pay, Mr McCarthy said.

"I think that's a better way of solving the problem than getting into a trade war with a 35% tariff," the California Republican told reporters at the US Capitol building.

Trump's 'job traitor' tax plan faces Republican block - BBC News

 

[Cannuck]

Tax! Tax! Tax! Tax!

Trumpites fully embrace left wing economic policy as long as makes America white again.

 

[coldstream]

There was never any question that Trump's economic nationalism, which demands a systematic, permanent regime of effective tariffs, would clash headlong into the NeoCon Republican Establishment.. steeped in trickle down, laissez-faire, free trade Reaganomics.. which is classic economic liberalism.

The winds that blew Trump into the White House are going to tear asunder the forces of global free market capitalism that are being routed throughout the West.. so Paul Ryan, Kevin McCarthy, Mitch McConnell and ilk should beware of what lurks on a path of obstruction of Trump.

 

[Bar Sinister]

Yep - the Dumpster is going to place a 35% tax on companies like Apple and other major US tech companies that manufacture most of their products abroad. That is simply not going to happen given that most of these outfits could buy up the Dumpster many times over and have considerable leverage in Congress. There is also the fact that many large US-based manufacturers use components made outside the US.

 

[DaSleeper]

Which is the existing corporate tax rate in the U.S. non?

 

[Cannuck]

Top end. Most companies have right offs so they don't actually pay that. Tariffs are a different annimal

 

[Angstrom]

This guy is not fu€king around folks.

 

[Danbones]

Apple lawsuit says 90 percent of 'official' chargers sold on Amazon are fake
http://www.theverge.com/2016/10/20/13343682/fake-apple-chargers-amazon-lawsuit

you guys don't see the bigger picture eh?
apple is old news
...and well, like all the predictions about trump to date:
pffft, lol

 

[Curious Cdn]

Loose








Cannon

 

[mentalfloss]

He's so dumb, just like his followers.

 

[Bar Sinister]

Apple lawsuit says 90 percent of 'official' chargers sold on Amazon are fake
http://www.theverge.com/2016/10/20/13343682/fake-apple-chargers-amazon-lawsuit

you guys don't see the bigger picture eh?
apple is old news
...and well, like all the predictions about trump to date:
pffft, lol

Many of the predictions are spot on seeing as many people thought he was going to act like a complete moron and propose completely unworkable policies. Many of his latest proposals reveal that the Dumpster does not even understand the political leanings of the party he is relying on in order to instrument many of his policies.

 

[petros]

Taxes on top of duties, customs and tarrifs?

Far out.


tariff

[tar-if]
noun
1.
an official list or table showing the duties or customs imposed by a government on imports or exports.
2.
the schedule or system of duties so imposed.

noun
3.
any duty or rate of duty in such a list or schedule.
4.
any table of charges, as of a railroad, bus line, etc.

verb (used with object)
6.
to subject to a tariff.
7.
to put a valuation on according to a tariff.
Origin of tariff

1585-95; earlier tariffa < Italian < Arabic taʿrīfah, derivative of ʿarrafa to make known

Top end. Most companies have right offs so they don't actually pay that. Tariffs are a different annimal

And then write offs too?

What is a 'Tax Credit'
A tax credit is an amount of money a taxpayer is able to subtract from taxes owed to the government. The value of a tax credit depends on the nature of the credit, and certain types of tax credits are granted to individuals or businesses in specific locations, classifications or industries. Unlike deductions and exemptions, which reduce the amount of taxable income, tax credits reduce the actual amount of tax owed.

Will domestic companies get subsidies for expansion for job creation?

sub·si·dy
ˈsəbsədē/
noun
noun: subsidy; plural noun: subsidies
1.
a sum of money granted by the government or a public body to assist an industry or business so that the price of a commodity or service may remain low or competitive.
"a farm subsidy"
a sum of money granted to support an arts organization or other undertaking held to be in the public interest.
a grant or contribution of money.
synonyms: grant, allowance, endowment, contribution, donation, bursary, handout; More
backing, support, sponsorship, finance, funding;
formalbenefaction
"the theater receives a subsidy of 1.7 million dollars a year"

He's so dumb, just like his followers.

 

[mentalfloss]

So now you've proven you don't know what a tariff is either.

You really should take an Econ class or something.

 

[Cannuck]

So now you've proven you don't know what a tariff is either.

You really should take an Econ class or something.

He's already proven he has limited knowledge on this front. He still gets pissy when I mention tax credits so I won't

 

[Machjo]

Tax! Tax! Tax! Tax!

Trumpites fully embrace left wing economic policy as long as makes America white again.

And tariffs are the worst kind of tax policy to boot. Heck, even many pro-tax leftists would oppose tariffs as among the worst kind of taxes possbible. Such taxes can be quite regressive to boot.

There was never any question that Trump's economic nationalism, which demands a systematic, permanent regime of effective tariffs, would clash headlong into the NeoCon Republican Establishment.. steeped in trickle down, laissez-faire, free trade Reaganomics.. which is classic economic liberalism.

The winds that blew Trump into the White House are going to tear asunder the forces of global free market capitalism that are being routed throughout the West.. so Paul Ryan, Kevin McCarthy, Mitch McConnell and ilk should beware of what lurks on a path of obstruction of Trump.

So you want a repeat of the dirty thirties and what followed.

 

[Cannuck]

And tariffs are the worst kind of tax policy to boot.

No, they'll be great. Trump says so.

 

[Machjo]

No, they'll be great. Trump says so.

Trump's kingdom come, his will be done.