More terrible tax news

[JustRalph]

https://www.prnewswire.com/news-releases/u-haul-announces-1200-employee-bonuses-thanks-to-trump-tax-cuts-300596700.html

By now, if your a Dem you might as well be hiding in a closet.

I’m sure all that U Haul money coming from people moving from Red to Blue States is starting to add up

[mostpost]

Our electric company has announced that because of the tax cuts they are going to be able to lower all rates by 5%. :headbanger:

Is that what happened, or did the rate commission tell them to lower the rates?

[mostpost]

They don't think it's crumbs, LOL. My wife got her first paycheck with the new, lower, withholding tax and she was pleasantly surprised, it was significantly lower. Of course, she'll probably blow it all on QVC, but, hey, it's good for the economy.
I’m happy she got that extra money. I also got extra money in my pension and Soccial Security checks. You do understand that extra money cost the company nothing.

[mostpost]

https://www.prnewswire.com/news-releases/u-haul-announces-1200-employee-bonuses-thanks-to-trump-tax-cuts-300596700.html

By now, if your a Dem you might as well be hiding in a closet.

I’m sure all that U Haul money coming from people moving from Red to Blue States is starting to add up
U-Haul will be saving $60M annually in taxes and is giving out $23.6M in bonuses. The bonuses are a one time expense. The tax savings continue indefinitely.

[upthecreek]

https://twitter.com/applecharlie5/status/963476376501325835

[mostpost]

Two percent of American workers have received a pay increase or a bonus tied (Allegedly) to the tax reform. 100% of corporations have received a windfall due to the tax reform.


There is also the question of how much of this is due to the new tax laws and how much to other factors such as a tightening labor market, pending increases in the minimum wage in many states and cities, and the tax benefits of announcing the benefits at this time.
ETA: To say nothing of the propaganda benefits.

[upthecreek]

http://www.columbiadailyherald.com/news/20180206/gm-workers-to-receive-11750-bonus

[mostpost]

http://www.columbiadailyherald.com/news/20180206/gm-workers-to-receive-11750-bonus
That's profit sharing. It's in the contract and has nothing to do with the new tax law. It is money the workers earned by working long hard hours.

[mostpost]

ExxonMobile will benefit by $6B this year from the new tax laws.
Has ExxonMobile announced any pay raises or bonuses?

Exxon did say that it will be investing $50B in the US economy over the next five years. How does that compare to previous investment? Over the five year period from 2012 to 2016 Exxon only invested $50B. Oh wait, that's the same!!

[woodtoo]

Maybe you should , get a haircut and get a new job.
Get it together like your big brother bob.

[Inner Dirt]

That's profit sharing. It's in the contract and has nothing to do with the new tax law. It is money the workers earned by working long hard hours.

From the link:

Union members who logged at least 1,850 hours in 2017 will receive the profit-sharing payment in their paychecks Feb. 23.

Do the math, that isn't even 40 hours a week. What is long and hard about that? Please explain, also long hard hours and union job don't belong in the same sentence.

[JustRalph]

U-Haul will be saving $60M annually in taxes and is giving out $23.6M in bonuses. The bonuses are a one time expense. The tax savings continue indefinitely.

So? Good for them!

[Racetrack Playa]

So? Good for them!
Billionaire's are cool.
http://www.phoenixnewtimes.com/news/the-u-haul-tragedy-6445980

[boxcar]

Billionaire's are cool.
http://www.phoenixnewtimes.com/news/the-u-haul-tragedy-6445980

Stereotype much? :coffee:

[Racetrack Playa]

Stereotype much? :coffee:
Yes, tons.

[upthecreek]

https://twitter.com/SteveScalise/status/960608564145475585

[boxcar]

Yes, tons.

That was a rhetorical question, since I know many libs do.

[Racetrack Playa]

That was a rhetorical question, since I know many libs do.
Who you callin lib fatso, You "team" players are something else that is for sure.
You can call me a Libertarian with an anarchist slant .

[boxcar]

Who you callin lib fatso

Actually, I'm tall, slim, mean and trim, airhead.

If you don't like being called a lib, ditch one of their cherish trademarks, which is stereotyping. :coffee:

[boxcar]

This ain't supposed to happen!

Go Figure: Tax Revenues Climbed $18 Billion In First Month Of GOP Tax Cuts

Fiscal Policy: The Congressional Budget Office says that federal revenues in January added up to $362 billion. That's an increase of $18 billion— or 5.2% — from the year before. As a result, the government ran a surplus of $51 billion that month, which is equal to the previous January.

Wait, weren't the tax cuts supposed to bankrupt the country to benefit the rich? It almost looks like the tax cuts — which took effect in January — are paying for themselves.

That wouldn't be fair, either. As the CBO notes, the new payroll withholding scheduled hadn't fully taken effect in January; companies don't have to update their employee tax withholdings until the middle of this month. When that happens, monthly revenues from individual income taxes will likely slip.

But the latest CBO report does show how a growing economy can make up a lot of the difference between the advertised price of a tax cut and the actual impact on revenues.

The same report says that revenues for the first four months of the current fiscal year — which started last October — were $46 billion higher than the same period the year before.

Individual income and payroll taxes, it says, rose by $68 billion. "That change largely reflects increases in wages and salaries," the CBO says.

https://www.investors.com/politics/editorials/revenues-climb-5-2-in-first-month-of-gop-tax-cuts/

I'm betting that this month's revenue will exceed last year's also, even though the new withholding schedule will have gone into effect.

Kool Stuff. :cool:

[elysiantraveller]

This ain't supposed to happen!

Go Figure: Tax Revenues Climbed $18 Billion In First Month Of GOP Tax Cuts


We shall see won't we... :cool:

[Clocker]

This ain't supposed to happen!

Go Figure: Tax Revenues Climbed $18 Billion In First Month Of GOP Tax Cuts


Maybe from taxes withheld from all those one time bonuses?

[mostpost]

From the link:

Union members who logged at least 1,850 hours in 2017 will receive the profit-sharing payment in their paychecks Feb. 23.

Do the math, that isn't even 40 hours a week. What is long and hard about that? Please explain, also long hard hours and union job don't belong in the same sentence.
You're slow. 1850 is the minimum number of hours you could work in a year and be eligible to receive a bonus check. It is not the average number of hours anyone worked

Here are the first three paragraphs of the story, including what you referenced above.
After a year of working mostly six days a week and 12-hour shifts, they earned them, United Auto Workers Local 1853 Chairman Mike Herron said. Union members who logged at least 1,850 hours in 2017 will receive the profit-sharing payment in their paychecks Feb. 23.
“All of our employees work very, very hard,” Herron said. “Some weeks, we worked seven days a week last year. It’s a physically demanding job. It’s not easy being away from your family and working so much.
“Not everyone was happy about working as many hours as we did,” he admitted. “But at the end of the day, it was a tremendous payout. All of our team members are happy about that.”


six days a week; 12 hour shifts, sometimes 7 day weeks; yet all you can think of is how lazy union workers are. I suspect you are the lazy one and are just projecting.

[elysiantraveller]

Maybe from taxes withheld from all those one time bonuses?

Didn't have the heart to tell him.

[boxcar]

Didn't have the heart to tell him.

February will tell the tale, slick. If all that surplus is from pay raises and bonuses, then I guess those pay raises and bonuses were crumbs!

[newtothegame]

As much as I dislike being a party pooper on the eve of the Eagles first Super Bowl victory, handing out money may be a great way to buy votes but somebody is going to pay down the line and it's not going to be you and me.

You mean like the Obama phones, the car fiasco? That type of handing out money to buy votes???? You do know that list goes on and on with Dems lol:headbanger:

[NJ Stinks]

You mean like the Obama phones, the car fiasco? That type of handing out money to buy votes???? You do know that list goes on and on with Dems lol:headbanger:


No. It's different because the GOP avoids any pretense of just helping those who need help and hands out fistfuls of cash to everybody and anybody to buy votes. The only GOP stipulation being that the less you need money, the more the GOP hands you! :jump:

[boxcar]

No. It's different because the GOP avoids any pretense of just helping those who need help and hands out fistfuls of cash to everybody and anybody to buy votes. The only GOP stipulation being that the less you need money, the more the GOP hands you! :jump:

Oh...so it's okay for the dimwits to buy the votes of the poor by expanding entitlement programs? But when the GOP "hands out fistfuls of cash" (which I take to mean aren't crumbs) to the people who actually work and pay most of the freight with their taxes, this is somehow immoral? The only reason you're such a sourpuss is that if welfare programs aren't expanded, the "poor" won't have much of an incentive to vote for the dimwits, will they?

[JustRalph]

The GOP is not handing out fistfuls of cash.

The government is taking less of the people’s own money.

That’s a huge distinction,

[boxcar]

The GOP is not handing out fistfuls of cash.

The government is taking less of the people’s own money.

That’s a huge distinction,

Not to libs it isn't. Letting working taxpayers keep more of their own $$$ is vote payola; whereas having the taxpayers "hand out fistfuls of cash", through government programs, to the poor doesn't buy a single dimwit a vote.

[NJ Stinks]

Not to libs it isn't. Letting working taxpayers keep more of their own $$$ is vote payola; whereas having the taxpayers "hand out fistfuls of cash", through government programs, to the poor doesn't buy a single dimwit a vote.

Taking from the poor and giving to the rich may be big where you come from.

We don't like it where I come from.

[jocko699]

Taking from the poor and giving to the rich may be big where you come from.

We don't like it where I come from.

But the Garden State is a utopia of so many successes:faint::faint::faint:

[fast4522]

Taking from the poor and giving to the rich may be big where you come from.

We don't like it where I come from.

That is just one viewpoint.


I think that any returning armed service American should not have to struggle finding a decent job period, and those who don't want to work should not even receive crappy yellow cheese and plain white cans of junk meat. Your concern for the poor is admirable, but moving to a more merit based immigration in our country would do more for the poor than all the good you folks have done in the last fifty years combined. The people that you hold in high esteem are only good for managing chaos to survive in power, improving nothing. You will never have viewership of your posts that amounts numbers agreeing with you other than a very small number of extremist like yourself. The vacuum of jobs leaving other country's coming back to the United States will have many outside our borders very worried. Dan Pena said President Donald J. Trump was going to rock the world, and not only was Mr Pena correct but our President is just getting started. Go have yourself a great big cry.

[upthecreek]

https://twitter.com/FoxNews/status/963593539501416448

[davew]

Taking from the poor and giving to the rich may be big where you come from.

We don't like it where I come from.

You really will be upset when they cut SNAP benefits and give canned USDA food. It might get to the point where people just can't afford to not work.

[boxcar]

Taking from the poor and giving to the rich may be big where you come from.

We don't like it where I come from.

Everyday day workers are not rich -- unless of course, you mean productive workers in the10%, 12% or 22% brackets are rich compared to welfare bunnies who don't work. :coffee:

[boxcar]

https://twitter.com/FoxNews/status/963593539501416448

:lol::lol::lol: Now, let's see what the dimwits' excuse is for not wanting to pass this bill. :coffee:

[upthecreek]

https://twitter.com/DonaldJTrumpJr/status/963788288720080896

[boxcar]

https://twitter.com/DonaldJTrumpJr/status/963788288720080896

Very bad news for the poverty pimps.

[NJ Stinks]

You really will be upset when they cut SNAP benefits and give canned USDA food. It might get to the point where people just can't afford to not work.

A lot less money for SNAP, Medicaid, CHIP, infrastructure, medical research, the Centers for Disease Control and Prevention, federal employees, etc. but lots of extra moolah for the wealthiest amongst us.

What can go wrong? :rolleyes:

[davew]

A lot less money for SNAP, Medicaid, CHIP, infrastructure, medical research, the Centers for Disease Control and Prevention, federal employees, etc. but lots of extra moolah for the wealthiest amongst us.

What can go wrong? :rolleyes:

I suspect less people overweight and health problems associated with it.

[boxcar]

A lot less money for SNAP, Medicaid, CHIP, infrastructure, medical research, the Centers for Disease Control and Prevention, federal employees, etc. but lots of extra moolah for the wealthiest amongst us.

What can go wrong? :rolleyes:

But a lot more money in the pockets of the taxpayers who foot the bills. Shirley you can see there's not a thing wrong with that.

And we want to keep the "wealthiest amongst us" happy. Who else are people going to work for so they can pay taxes? The poor? :coffee:

[fast4522]

But a lot more money in the pockets of the taxpayers who foot the bills. Shirley you can see there's not a thing wrong with that.

And we want to keep the "wealthiest amongst us" happy. Who else are people going to work for so they can pay taxes? The poor? :coffee:


Like I told Stinks that is only one view. Obviously my view is more in line with yours, but the trillions that was sitting offshore that got repatriated and has not been repatriated yet is flowing into workers pockets and new capital projects that otherwise would not have happened. These positive effects are ongoing taking life as a process. The only thing Stinks does is complain because he is not a direct recipient. I would love to use colorful language describing Stinks thought process and motivation of posts but you guys are astute enough to come spot on in my thoughts.

[Clocker]

A lot less money for SNAP, Medicaid, CHIP, infrastructure, medical research, the Centers for Disease Control and Prevention, federal employees,

You weren't doing bad up to that point.

https://www.fedsmith.com/wp-content/uploads/2016/09/fedvsprivatewages.jpg

That doesn't include benefits.

Comparing Benefit Packages

In 2015, according to Edwards’ analysis of BEA data, the value of benefits in federal employee compensation averaged $36,795. The average benefit package in the private sector was $11,175. According to Edwards, “That large difference stems from more federal workers receiving certain types of benefits than private workers, and from particular federal benefits being more generous than those provided in the private sector.”
Job Security

The article cites another benefit of working for Uncle Sam. Federal employees are infrequently fired. 0.5% of federal employees are fired in a year, including for poor performance and misconduct. That is one-sixth of the private-sector firing rate.
For the senior executive service, the firing rate is 0.1 percent. By comparison, about two percent of corporate CEOs are fired each year.
The “quit rate” of federal employees, often cited as a reason by the president for not approving a larger federal pay raise, is one-fourth the rate of private sector employees.
https://www.fedsmith.com/2016/09/21/average-total-federal-employee-compensation-123160/

[Tom]

$49 billion surplus - FAKE news.
When you have the debt and deficit we have, there is nothing remotely close to a surplus.

This is the BS thinking that fuels the swamp.
Stop listening to these liars.

[NJ Stinks]

You weren't doing bad up to that point.

https://www.fedsmith.com/wp-content/uploads/2016/09/fedvsprivatewages.jpg

That doesn't include benefits.

https://www.fedsmith.com/2016/09/21/average-total-federal-employee-compensation-123160/

First, the Koch boys founded the Cato Institute and your diagram comes from the Cato Institute so your diagram smells like dead fish.

Did you ever hear the saying "you get what you pay for?" If you want to take away any incentive for an extraordinary employee to work for the federal government, just keep making the job run-of the-mill.

From your linked website (not a Koch funded website - it just regurgitated what the Cato Institute claims):

Substantial Cuts to Federal Employee Benefits Proposed in FY 2019 Budget


The White House released its fiscal year 2019 budget proposal today. As expected, it contains specific proposals that would impact federal employees. One of the accompanying documents was entitled “Major Savings and Reforms” that outlined specific changes to federal employee benefits.

Reductions to Federal Retirement Benefits
Perhaps the most significant changes would be to federal retirement benefits.

link: https://www.fedsmith.com/2018/02/12/substantial-cuts-federal-employee-benefits-proposed-fy-2019-budget/


Just so you don't misunderstand: I am retired. Nothing that happens negatively or positively to federal employees today can hurt me. In fact, listening to Boxcar cry about the # of IRS employees means zip to me but everything to the U.S. Treasury.

The simple truth is if you don't care whether the IRS agents who audit companies like Johnson & Johnson, Merck, Exxon/Mobil, and Bill Gates know what they are doing, just keep cutting the one carrot that made federal employment a great job - benefits.

[Clocker]

Did you ever hear the saying "you get what you pay for?" If you want to take away any incentive for an extraordinary employee to work for the federal government, just keep making the job run-of the-mill.

But it also is a very high incentive for an non-extraodinary employee to work for the federal government. And to never leave and never get fired. Because while the extraordinary employees may deserve that level of pay, or even more, the rigid government structure pays a lot of ordinary or worse employees much more than they are worth.

There are a lot of extraordinary employees in the government sector. And a lot of average and below average employees. And I have seen no evidence that the average federal employee is that much better than the average private sector employee to justify that wage difference.

And that doesn't get into the issue that the feds have too many employees, one reason being that those employees are doing work that never should be done by the federal government.

[NJ Stinks]

But it also is a very high incentive for an non-extraodinary employee to work for the federal government. And to never leave and never get fired. Because while the extraordinary employees may deserve that level of pay, or even more, the rigid government structure pays a lot of ordinary or worse employees much more than they are worth.

There are a lot of extraordinary employees in the government sector. And a lot of average and below average employees. And I have seen no evidence that the average federal employee is that much better than the average private sector employee to justify that wage difference.

And that doesn't get into the issue that the feds have too many employees, one reason being that those employees are doing work that never should be done by the federal government.

It's not possible for me to convince you. You don't believe there is any kind of pecking order where the better a federal employee is, the more the employee is paid. Plus you don't want the federal government to pay their employees decent pensions, health benefits, etc. if only because much of private industry today is too greedy to do so.

Your last paragraph is a sad joke too many people want to believe is true. Which is a big reason this country is going downhill fast IMO.

Believe me, Clocker, I get it. There have been people hating government workers long before I started working for them in 1973. In fact, some of my GOP uncles said a lot of nasty stuff over the years that I didn't appreciate. At all. But at least I could hang my hat on the fact that I did have a solid career working for Uncle Sam. Not likely anymore for federal employees today. The job keeps getting worse - less people sharing more work, lousier benefits, GOP pols treating fed employees like they are the enemy....

I'm lucky to be out.

[Tom]

How can you talk about greed when the government has absolutely no fiscal responsibility at all?

You guys whine about the deficit and the debt and then expect private industry to operate the same way?????

Man, that is convoluted thinking.
Private industry has to answer for their payrolls. Not just raise taxes on everyone to try to cover their incompetence.

Visit us in the real world sometime.

[Clocker]

Your last paragraph is a sad joke too many people want to believe is true. Which is a big reason this country is going downhill fast IMO.


The country is going downhill fast because too many people believe that the government has gotten too big and controlling? :faint:

I am not going to beat my head against that brick wall. :bang:

[boxcar]

The country is going downhill fast because too many people believe that the government has gotten too big and controlling? :faint:

I am not going to beat my head against that brick wall. :bang:

The country is dying due to chronic government OBESITY.
The government doesn't know that gluttony is one of the seven deadly sins. :coffee:

[Tom]

The country is dying due to chronic government OBESITY.
The government doesn't know that gluttony is one of the seven deadly sins. :coffee:

Oh say, can you see.......your FEET?

[jocko699]

http://ussanews.com/News1/2018/02/20/how-much-are-you-worth-nancy-heckler-yells-at-pelosi/

[chadk66]

I don't know how anybody could take Pelosi serious at this point.

[upthecreek]

https://townhall.com/tipsheet/mattvespa/2018/02/20/boom-nyt-poll-shows-gop-tax-bill-clinches-majority-support-n2451344?utm_source=thdailypm&utm_medium=email&utm_campaign=nl_pm&newsletterad=

[NJ Stinks]

https://townhall.com/tipsheet/mattvespa/2018/02/20/boom-nyt-poll-shows-gop-tax-bill-clinches-majority-support-n2451344?utm_source=thdailypm&utm_medium=email&utm_campaign=nl_pm&newsletterad=

Buying votes actually works? :rolleyes:

[jocko699]

Buying votes actually works? :rolleyes:

Only if you buy them with EBT cards and phones:eek::eek:

[Tom]

Originally Posted by NJ Stinks View Post
Buying votes actually works?

Ask JFK.

[NJ Stinks]

Only if you buy them with EBT cards and phones:eek::eek:

OK, Jocko. SNAP cost $68B in 2017. The Universal Service Fund that provides the revenue for the free phones costs about $5B annually. That's $73B in total between the two programs in 2017. Meanwhile, the GOP tax cut is expected to cost at least 1.5 trillion over 10 years or $150B a year.

On the one hand, we are helping people who are in dire need. That's the way the Dems roll. On the other hand, we are handing out money to most everybody but the people who need nothing the most are getting the most. And the tax cuts are costing us twice as much money as the SNAP and free phone programs. That's the way the GOP rolls.


https://fns-prod.azureedge.net/sites/default/files/pd/SNAPsummary.pdf

http://time.com/money/4362527/fees-taxes-charges-cell-phone-bill/

https://taxfoundation.org/2017-tax-cuts-jobs-act-analysis/

[jocko699]

OK, Jocko. SNAP cost $68B in 2017. The Universal Service Fund that provides the revenue for the free phones costs about $5B annually. That's $73B in total between the two programs in 2017. Meanwhile, the GOP tax cut is expected to cost at least 1.5 trillion over 10 years or $150B a year.

On the one hand, we are helping people who are in dire need. That's the way the Dems roll. On the other hand, we are handing out money to most everybody but the people who need nothing the most are getting the most. And the tax cuts are costing us twice as much money as the SNAP and free phone programs. That's the way the GOP rolls.


https://fns-prod.azureedge.net/sites/default/files/pd/SNAPsummary.pdf

http://time.com/money/4362527/fees-taxes-charges-cell-phone-bill/

https://taxfoundation.org/2017-tax-cuts-jobs-act-analysis/

But you agree stinky that some politicians make their careers promising people that they will take care of them knowing full well if they really did they would lose their base.

Some of these "entitled" people are generationally dependent of those politicians. So why shouldn't they vote for them?

[Tom]

On the other hand, we are handing out money to most everybody

No, we are not.
That money is not being handed out - it money being KEPT by those who earned it.

You thing the government owns everything?
Here' s news flash, it doesn't.

That money I am getting more of now is not being handed out to me, it not being STOLEN from me. I've got a better use for it than some phone for an anchor. Go to the freaking library and use the internet for FREE. What else they doing all day?

If the dems are so danged worried about the loss of tax dollars, here's another good idea - CUT $pending. No one can tell me that there ins a trillion or two of WA$TE out there right now.

[NJ Stinks]

But you agree stinky that some politicians make their careers promising people that they will take care of them knowing full well if they really did they would lose their base.

Some of these "entitled" people are generationally dependent of those politicians. So why shouldn't they vote for them?

I am sure there are many people who think they can't afford to vote for one party or the other.

Without trying to be wise guy, I'll say this. Republicans dwell on those who abuse the system as justification for reducing or eliminating whatever the entitlement is. Whereas I'm happy enough if the vast majority are not screwing the system.

Hey, maybe I got my beliefs from working from the IRS. Because the fact is most people with the opportunity to do so are screwing the country out some tax money even if it's just inflating charitable contributions. Doesn't mean we have to get rid of charitable deductions though. The overall benefits of that deduction carry the day.

[fast4522]

A majority of voters are now are in favor of the tax cuts, people like keeping their own money. Germany is enjoying 8 % growth while imposing a 10 % tariff on non Euro products, President Trump is all over this and is reciprocating in steel, aluminium, and German cars. Your world view of giving a free ride to poor poor Europe is over, soon American's will be in line with the President's policy correcting these issues in trade and will want to make our tax policy permanent for the individual during midterm elections. Hey Stinks, you got a very long row to hoe.

[Clocker]

Germany is enjoying 8 % growth while imposing a 10 % tariff on non Euro products

I think you dropped a decimal point.

German Q3 GDP Growth Confirmed at 0.8% (https://tradingeconomics.com/articles/11232017071127.htm)
The German economy expanded a seasonally-adjusted 0.8 percent on quarter in the September quarter of 2017, following a 0.6 percent growth in the previous period and matching the preliminary estimate. It marked the 13th straight quarter of growth, mainly supported by foreign trade and investment while household consumption and government spending were rather stable.
Published on 2017-11-23https://tradingeconomics.com/germany/gdp-growth

Germany has a value added tax (VAT) that is imposed on products made in Germany or imported. The consumer pays the same tax on a product regardless.

President Trump is all over this and is reciprocating in steel, aluminium, and German cars. Tariffs on imports are paid by the American consumer, and can kill American jobs. Most solar panels installed in this country are imported. The recent tariff on them will decrease demand, and put an estimated 20,000 installers out of work. That could increase American production, but solar panel production is highly automated and would not create a lot of new jobs.

[fast4522]

Getty

Berlin has been above 8 per cent of GDP for the last few years
If Mr Trump imposed a sanction on German steel and automobiles, the entire EU would be dragged into the fold - this could punish nations like Ireland that significantly relies on America for trade.

Germany has the biggest surplus in the world, in absolute terms, after statistics showed that it reached $287billion last year - this outweighs that of China.

Berlin has also been above 8 per cent of GDP for the last few years.

“Germany is very 'unfair' on autos because the EU has a tariff of 10 percent while the US tariff is 2.5 percent.”

http://www.cetusnews.com/news/Trump-will-pull-TRIGGER-on-EU-and-punish-Angela-Merkel-for--cooking-the-books--over-trade.BymTN_x1Lz.html

[Clocker]

Berlin has been above 8 per cent of GDP for the last few years
If Mr Trump imposed a sanction on German steel and automobiles, the entire EU would be dragged into the fold - this could punish nations like Ireland that significantly relies on America for trade.

Germany has the biggest surplus in the world, in absolute terms, after statistics showed that it reached $287billion last year - this outweighs that of China.

Berlin has also been above 8 per cent of GDP for the last few years.



The same statement is repeated at the start and end of the quote, and makes absolutely no sense. A city does not have a GDP. And the article is talking about trade surplus, not economic growth.

The Wall Street Journal reports that German GDP grew by 2.2% last year, which is in line with the previously cited quarterly increase of 0.8%.

Germany’s economy grew at the fastest annual pace in six years in 2017, according to data released Thursday, adding further weight to a pickup in growth across the eurozone. The German statistics office said gross domestic product grew 2.2% last year, after economists polled by The Wall Street Journal expected growth of 2.3%. Still, it was the fastest pace of growth recorded since 2011.
https://www.wsj.com/articles/german-economic-growth-hits-six-year-high-1515669401

[fast4522]

It really depends who you listen to and how you feel for or against the euro doesn't it. As for what you make of it is on you, I did a copy and paste and provided the link. I think if you can afford $60k on German wheels maybe you should pay the tax put on it, I'll find that little violin for ya.

[Clocker]

As for what you make of it is on you, I did a copy and paste and provided the link. I think if you can afford $60k on German wheels maybe you should pay the tax put on it, I'll find that little violin for ya.

What I make of it is that import tariffs and VATs don't stimulate the economy.

I haven't a clue where the remark about German cars came from, or how it is relevant to the issue. FIY, Volkswagen, BMW, and Mercedes all have manufacturing plants in the US.

[fast4522]

What I make of it is that import tariffs and VATs don't stimulate the economy.

I haven't a clue where the remark about German cars came from, or how it is relevant to the issue. FIY, Volkswagen, BMW, and Mercedes all have manufacturing plants in the US.

That's cool Clocker, I support President Trump's view 100%
And has full discretion in policy in trade.

[Clocker]

That's cool Clocker, I support President Trump's view 100%
And has full discretion in policy in trade.

The president has no discretion on tariffs and trade except what the Congress decides to give him on a case by case basis.

Article 1, Section 8 of the Constitution:

The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United StatesThe Congress often passes tariffs which give the president the authority to vary the rate of the tariff within a given range according to conditions, as when Trump recently raised the tariff rate on Canadian lumber, using a tariff that Congress had already passed some time ago. The president cannot put a tariff on something the Congress has never approved.

One of the few things that economists across the political spectrum, from far left to far right, agree on is that Trump does not understand tariffs or international trade. You don't have to understand international trade to buy and sell New York real estate.

The primary effect of tariffs here are higher prices for American consumers. The higher prices may also decrease demand, thereby eliminating American jobs. The higher prices may also make American products more competitive, but that can vary widely, and generally will create fewer new jobs than were eliminated.

Some of us think that tariffs result in the Congress and/or the president picking winners and losers in the economy, and would prefer that be left to the market.

[fast4522]

FYI

President Trump can levy tariffs without Congress

http://money.cnn.com/2017/01/23/news/economy/trump-tariff-power/index.html

[fast4522]

The president has no discretion on tariffs and trade except what the Congress decides to give him on a case by case basis.

Article 1, Section 8 of the Constitution:

The Congress often passes tariffs which give the president the authority to vary the rate of the tariff within a given range according to conditions, as when Trump recently raised the tariff rate on Canadian lumber, using a tariff that Congress had already passed some time ago. The president cannot put a tariff on something the Congress has never approved.

One of the few things that economists across the political spectrum, from far left to far right, agree on is that Trump does not understand tariffs or international trade. You don't have to understand international trade to buy and sell New York real estate.

The primary effect of tariffs here are higher prices for American consumers. The higher prices may also decrease demand, thereby eliminating American jobs. The higher prices may also make American products more competitive, but that can vary widely, and generally will create fewer new jobs than were eliminated.

Some of us think that tariffs result in the Congress and/or the president picking winners and losers in the economy, and would prefer that be left to the market.

Guess what Clocker, President Trump just did it.
I Guess that having "no discretion on tariffs" had no effect right?

[Clocker]

Guess what Clocker, President Trump just did it.
I Guess that having "no discretion on tariffs" had no effect right?

I said "The president has no discretion on tariffs and trade except what the Congress decides to give him on a case by case basis."

Trump is enacting tariffs that had been approved by Congress, giving the president discretion in matters of national security. The claim that this matter involved national security is utter nonsense, and an abuse of power by the president. The losers here will be American consumers.

Why are you so gleeful about Americans getting screwed by the president to benefit a few American companies that can't compete in a free market? Not to mention other American companies that will be hurt when other countries impose retaliatory tariffs on our exports.

[fast4522]

I said "The president has no discretion on tariffs and trade except what the Congress decides to give him on a case by case basis."

Trump is enacting tariffs that had been approved by Congress, giving the president discretion in matters of national security. The claim that this matter involved national security is utter nonsense, and an abuse of power by the president. The losers here will be American consumers.

Why are you so gleeful about Americans getting screwed by the president to benefit a few American companies that can't compete in a free market? Not to mention other American companies that will be hurt when other countries impose retaliatory tariffs on our exports.

For starters Clocker I am not gleeful, and if you got smoked in todays market it is on you. I saw this as a step that was in the que, and I expected and was ready.

As for the utter nonsense you say, many inside our country do not agree with you. Just as Obama picked winners and losers, this time you can only complain because that is all you can do for the next 7 years.

[boxcar]

I said "The president has no discretion on tariffs and trade except what the Congress decides to give him on a case by case basis."

Trump is enacting tariffs that had been approved by Congress, giving the president discretion in matters of national security. The claim that this matter involved national security is utter nonsense, and an abuse of power by the president. The losers here will be American consumers.

Why are you so gleeful about Americans getting screwed by the president to benefit a few American companies that can't compete in a free market? Not to mention other American companies that will be hurt when other countries impose retaliatory tariffs on our exports.

So we should rely on foreigners for our steel supply -- even in the event of war?

[Clocker]

So we should rely on foreigners for our steel supply -- even in the event of war?

Who are we going to war against? We get 2% of our imported steel from China. We get 16% from Canada, and big shares from Brazil and South Korea. China does export a lot of steel to a lot of countries, and keeps the world market price down.

https://www.reuters.com/article/us-usa-trade-trump/trump-to-impose-steep-tariffs-on-steel-aluminum-stoking-trade-war-talk-idUSKCN1GD4ZW

Not even Trump tried to use that line about war. Does that also explain the tariff increases on Canadian lumber and South Korean washing machines and imported solar panels?

Trump thinks that he knows better than the market how international trade should be conducted. After the latest tariffs were announced, he tweeted that "We want free, fair, and smart trade!"

"Free trade" and "fair trade" are opposites. The first is determined by the market, the second is someone's opinion. In this case, it is Trump's opinion, apparently based on his experiences in NYC real estate and as the "talent" on some third rate TV shows.

[fast4522]

Who are we going to war against? We get 2% of our imported steel from China. We get 16% from Canada, and big shares from Brazil and South Korea. China does export a lot of steel to a lot of countries, and keeps the world market price down.

https://www.reuters.com/article/us-usa-trade-trump/trump-to-impose-steep-tariffs-on-steel-aluminum-stoking-trade-war-talk-idUSKCN1GD4ZW

Not even Trump tried to use that line about war. Does that also explain the tariff increases on Canadian lumber and South Korean washing machines and imported solar panels?

Trump thinks that he knows better than the market how international trade should be conducted. After the latest tariffs were announced, he tweeted that "We want free, fair, and smart trade!"

"Free trade" and "fair trade" are opposites. The first is determined by the market, the second is someone's opinion. In this case, it is Trump's opinion, apparently based on his experiences in NYC real estate and as the "talent" on some third rate TV shows.

Automation is not going away period, so doors manufactured inside these United States can and will have the same low price points as if they were manufactured in Canada. Only with American workers inside those automated plants. The same can be said for washing machines. The raw materials used to make those doors can be negotiated if we buy wood products outside these United States, but I guarantee it won't be a penny more than China would be willing to pay for those raw materials. So you see when there is a world recession it is better to be paying American workers instead of someone else who is not American, and those world material prices will even be less during recession. Automation in new plants will be occurring at a faster rate here because of our tax reform.

Caution: if your investment portfolio is heavy in markets outside these United States it could be considered gambling. But the truth is everything is a gamble.

[Clocker]

Caution: if your investment portfolio is heavy in markets outside these United States it could be considered gambling. But the truth is everything is a gamble.

I don't care about the impact on the stock market. During the 2016 campaign, Trump's own economic advisor stated that Trump's tariff proposals would increase the cost of living for the average American by 10-15%.

Does no one have a problem with that? Can anyone show benefits to this country that would justify that cost to consumers?

[boxcar]

Who are we going to war against? We get 2% of our imported steel from China. We get 16% from Canada, and big shares from Brazil and South Korea. China does export a lot of steel to a lot of countries, and keeps the world market price down.

https://www.reuters.com/article/us-usa-trade-trump/trump-to-impose-steep-tariffs-on-steel-aluminum-stoking-trade-war-talk-idUSKCN1GD4ZW

Not even Trump tried to use that line about war. Does that also explain the tariff increases on Canadian lumber and South Korean washing machines and imported solar panels?

Trump thinks that he knows better than the market how international trade should be conducted. After the latest tariffs were announced, he tweeted that "We want free, fair, and smart trade!"

We don't live in a static world, Clock. Plus Trump did bring up the war scenario.

Personally, in this dangerous world in which we live, I'd prefer to be as self-sufficient as possible.

[fast4522]

I don't care about the impact on the stock market. During the 2016 campaign, Trump's own economic advisor stated that Trump's tariff proposals would increase the cost of living for the average American by 10-15%.

Does no one have a problem with that? Can anyone show benefits to this country that would justify that cost to consumers?

Americans on the lower end just making ends meet will never face that, and they will not care if your New BMW costs you $10k more. Threat of cost of living will not make people in line with you, it is more about consumption. Watch the next couple of years, your posts about the same fair trade bogus argument will be like shoveling shit against the tide. We can revisit it during the mid term elections and you might say that you were correct, or you might do a Reply Randall.

[Clocker]

Personally, in this dangerous world in which we live, I'd prefer to be as self-sufficient as possible.

Maybe you and Trump can afford that. Most of us can't. You have no problems with a 15% increase in the cost of living?

And the reality is that we live in a global economy. For example, a lot of American steel producers are not starting with iron ore and producing finished steel. They are starting with unfinished imported steel and producing the final product that a manufacturer can use. The same is true of many other products that are "Made in America".

[reckless]

Don't know the exact year but the USA has been running trade deficits every year since the 1970s!!

How has all this free trade helped the American working citizen these past 45 years? GDP growth in the USA has averaged under 2 per cent annually since 2008 -- how has all those free trade agreements in place have helped America's economy since then?

I know that those that run multi-national billion dollars corporations, let's call them the Fortune 500, have become uber wealthy on the backs of American citizens. These globalists only want cheap labor to make cheap products by uneducated workers to sell to the masses.

Same with the phony prostituted GOP politicians who took the money from these s-bags all under the lie that 'free trade is good for the country'. What a joke.

Since the early 1990s when NAFTA was put in place we've lost over 600,000 well-paying manufacturing jobs and tens of thousands of plants and factories. How has all that free trade helped this country? Oh yeah, I forgot: there are 1000s of 'Dollar' stores in every neighborhood in the country nowadays. Forgive me but $3 a pair for socks don't impress me.

These GOP whores, the Fortune 500 internationalists and the local Chamber(s) of Commerce can all go to hell, especially those frauds like General Motors, who was given tax payer 'bailout' dollars -- then took the dough and paid bonuses to executives, propped up the union coffers that they were obligated by law to fund but didn't, and then moved plants off shore.

The US steel companies don't need this tariff to succeed. They need a level playing field.

And they certainly don't need the US politicians to write trade agreements that allowed foreign countries to dump cheap steel and aluminum subsidized by their governments on us, either.

[Clocker]

Now this whole thing is getting really serious. :eek:

Donald Trump's plan to slap a 10 percent tariff on all aluminum imports has beer makers belching their outrage.

"President Trump's announcement today that he plans to impose a 10% tariff on aluminum imports will increase the cost of aluminum in the United States and endanger American jobs in the beer industry and throughout the supply chain," says (https://www.prnewswire.com/news-releases/the-beer-institute-condemns-president-trumps-announcement-to-impose-tariffs-on-aluminum-imports-next-week-300607017.html) Jim McGreevey, president and CEO of the Beer Institute, a trade association.
http://reason.com/blog/2018/03/02/trumps-tariffs-will-crush-beer-industry

[boxcar]

Maybe you and Trump can afford that. Most of us can't. You have no problems with a 15% increase in the cost of living?

And the reality is that we live in a global economy. For example, a lot of American steel producers are not starting with iron ore and producing finished steel. They are starting with unfinished imported steel and producing the final product that a manufacturer can use. The same is true of many other products that are "Made in America".

I'll take self-sufficiency any day. And I'd be willing to sacrifice luxuries for it. The bigger reality is that we live in a very dangerous world.

[boxcar]

Now this whole thing is getting really serious. :eek:

http://reason.com/blog/2018/03/02/trumps-tariffs-will-crush-beer-industry

Good thing I buy only bottled beer. :coffee:

[elysiantraveller]

The US steel companies don't need this tariff to succeed. They need a level playing field.

Like what paying steel workers $2-3/hour to create low grade steel? :rolleyes:

[Clocker]

Like what paying steel workers $2-3/hour to create low grade steel? :rolleyes:

The US steel industry is producing more steel today than in 1990 with over 48,000 fewer workers. The steel industry employment here went on a deep dive in 1990, four years before NAFTA. Anyone believe those jobs are coming back?

https://www.zerohedge.com/news/2018-03-02/foolishness-trumps-steel-tariffs-one-simple-chart

[reckless]

Like what paying steel workers $2-3/hour to create low grade steel? :rolleyes:

It's the foreign steel makers that are paying low wages and producing cheap poorly grade rolls of steel. And these companies --heavily subsidized by their own governments-- were able to dump this crap in the USA.

You roll your eyes but truthfully --and I'm not trying to be snarky-- you sound totally clueless on this matter, if I read your post correctly.

Do you really think all these trade agreements passed by Congress --mostly when the GOP was in charge-- these past 40+ years has created a level-playing field for US based
companies?? Do you??

[Clocker]

It's the foreign steel makers that are paying low wages and producing cheap poorly grade rolls of steel. And these companies --heavily subsidized by their own governments-- were able to dump this crap in the USA.



We get 16% of our imported steel from Canada, and 2% from China. Do you really think that steel users like Ford Motors are buying cheap, poor grade steel?

[reckless]

We get 16% of our imported steel from Canada, and 2% from China. Do you really think that steel users like Ford Motors are buying cheap, poor grade steel?

The short answer is yes.

In part, because of strict CAFE standards forced on US car makers to produce lighter cars for better fuel economy.

But let's say Ford, et al, use the highest grade steel imaginable, which I do not believe they do but I'll play along.

In a typical car, there is roughly between $500-700 worth of steel. What is the typical price range of 'family' and 'economy' type of models ... $15,000 up to $25,000?? Honestly, I am not exactly sure but I believe it's a range we can agree on.

So, a 15 per cent increase in imported steel costs to Ford, et al, should increase that sticker price by only $75 to $105.

The increases due to this tariff are pennies and nickels when compared to the final price of the car.

[lamboguy]

how much money do these car dealers want to get you for? they are already dealing with a 2 for 1 invoice that they fool you with.

[Clocker]

Those who do not learn from history are doomed to repeat it.

Bush imposed similar tariffs on steel in 2002.

From Wiki


On November 11, 2003, the WTO came out against the steel tariffs, saying that they had not been imposed during a period of import surge—steel imports had actually dropped a bit during 2001 and 2002—and that the tariffs therefore were a violation of America's WTO tariff-rate commitments. The ruling authorized more than $2 billion in sanctions, the largest penalty ever imposed by the WTO against a member state, if the United States did not quickly remove the tariffs.[4] (https://en.wikipedia.org/wiki/2002_United_States_steel_tariff#cite_note-illegal-4) After receiving the verdict, Bush declared that he would preserve the tariffs.[5] (https://en.wikipedia.org/wiki/2002_United_States_steel_tariff#cite_note-5) In retaliation, the European Union threatened to counter with tariffs of its own on products ranging from Florida oranges to cars produced in Michigan, with each tariff calculated to likewise hurt the President in a key marginal state. The United States backed down and withdrew the tariffs on December 4.[6] (https://en.wikipedia.org/wiki/2002_United_States_steel_tariff#cite_note-lifts-6)
...

According to a 2005 review of existing research, all studies on the tariffs "find that the costs of the Safeguard Measures outweighed their benefits in terms of aggregate GDP and employment as well as having an important redistributive impact."[1] (https://en.wikipedia.org/wiki/2002_United_States_steel_tariff#cite_note-:0-1)

(https://en.wikipedia.org/wiki/2002_United_States_steel_tariff#cite_note-:0-1)Steel production rose slightly during the period of the tariff. [7] (https://en.wikipedia.org/wiki/2002_United_States_steel_tariff#cite_note-7) The protection of the steel industry in the United States may have had unintended consequences (https://en.wikipedia.org/wiki/Unintended_consequences) and perverse effects. A study from 2003 that was paid for by CITAC, a trade association of businesses that use raw materials, found that around 200,000 jobs were lost as a result.https://en.wikipedia.org/wiki/2002_United_States_steel_tariff#Impact

[Clocker]

European Commission President Jean-Claude Juncker says the EU is looking at new tariffs on US exports if Trump's tariffs go into effect.

Trump's announcement has drawn condemnation across the globe, with several countries threatening retaliation if he imposes the duties.

"We would like a reasonable relationship to the United States, but we cannot simply put our head in the sand," Juncker said.

According to Reuters, the EU is weighing potential 25 percent tariffs on $3.5 billion worth of goods to "rebalance" trade with the U.S.
http://thehill.com/regulation/international/376467-eu-weighs-tariffs-on-bourbon-blue-jeans-harley-davidson

[Tom]

Gee, weren't their heads in the sand - literally when we rebuilt Europe in the 1940s?

Take names and cross them off our aid for anything list.

[fast4522]

I agree with Tom here, and feel that we should suspend sharing of all intelligence with Europe until they understand our relationship with them has always been lopsided.

[Tom]

I agree with Tom here, and feel that we should suspend sharing of all intelligence with Europe until they understand our relationship with them has always been lopsided.

Even better - let THEM deal with their self-inflicted problem on their own.

[Clocker]

Even better - let THEM deal with their self-inflicted problem on their own.

And God knows we don't have enough intelligence to be sharing any with Europe. :rolleyes:

[upthecreek]

http://www.breitbart.com/big-journalism/2018/03/07/new-york-times-humiliating-correction-hit-piece-trump-tax-cuts/

[Tom]

All the news we can get you to swallow!

[woodtoo]

http://www.breitbart.com/big-journalism/2018/03/07/new-york-times-humiliating-correction-hit-piece-trump-tax-cuts/

Haha they couldn't add their way out of grade one.

[upthecreek]

https://www.wsj.com/livecoverage/february-2018-jobs-report-analysis

[boxcar]

https://www.wsj.com/livecoverage/february-2018-jobs-report-analysis

This is going to kill the dimwits in the midterms.

[upthecreek]

http://www.breitbart.com/big-government/2018/03/09/pelosi-backtracks-on-crumbs-rebuke-of-trump-tax-reform/

[Tom]

Crumbs?
I thought you meant her fellow democrats! :D

[JustRalph]

https://hotair.com/archives/2018/04/17/kroger-announces-benefits-employees-thanks-tax-reform/

Kroger the largest grocery chain increases some benefits 5x

[upthecreek]

https://townhall.com/tipsheet/guybenson/2018/04/17/tax-reform-ohio-good-news-kroger-n2471437?utm_source=thdailypm&utm_medium=email&utm_campaign=nl_pm&newsletterad=

[JustRalph]

https://townhall.com/tipsheet/guybenson/2018/04/17/tax-reform-ohio-good-news-kroger-n2471437?utm_source=thdailypm&utm_medium=email&utm_campaign=nl_pm&newsletterad=

Good stuff!!

[Tom]

I'm sure someone will be along soon to explain to us how this a bad thing.

Don't you guys know this POTUS can't do anything right?

[boxcar]

https://hotair.com/archives/2018/04/17/kroger-announces-benefits-employees-thanks-tax-reform/

Kroger the largest grocery chain increases some benefits 5x

And this is a big deal because grocery chains are notoriously tightfisted, generally speaking -- their proverbial excuse being that their profits are mere pennies on the dollar. (For liberals out there, this means "crumbs".) :coffee:

[reckless]

Surprised --ha, ha-- that the anti-Trump geniuses haven't weighed in on all the great economic and US corporate news we're experience -- thanks exclusively to Donald Trump's wisdom, insight and his historic Trump Tax Bill.

I mean, didn't all these experts tell us on a daily basis for two plus years that Trump is dope, the people that support him are stupid, he can't get companies to relocate to the USA, can't get legislation passed, that he knows nothing about 'free' trade and business, his America First agenda will never fly, yada, yada, yada??

Yes they did... and yes, they proved once more and again and again, how little they actually know of the topics they spew their idiocy upon us.

Makes you wanna roll your eyes and bang your head ... :lol::lol:

[davew]

I'm sure someone will be along soon to explain to us how this a bad thing.

Don't you guys know this POTUS can't do anything right?

This is a bad thing. If people are working, they do not have as much time for rioting, drugs, armed robbery, and dim sponsored marches. How can the United States be socially just with this injustice?

I do not subscribe to any of the numerous dim propaganda programs, so you will just have to wait for mustpost, fandan, h4c to attach some nice propaganda memes or twits.

[upthecreek]

https://twitter.com/DonaldJTrumpJr/status/989516974496669696

[chadk66]

The number of job openings here in the oil patch is insane. Job fairs near daily here now. Talk of $100 oil by late summer so companies are ramping up the drilling again now.

[davew]

The number of job openings here in the oil patch is insane. Job fairs near daily here now. Talk of $100 oil by late summer so companies are ramping up the drilling again now.

But why would anyone want to move from your plush Sec 8 apartment complex, friends, EBT benefits, and part time drug pushing job for a measly $80K/ yr in North Dakota? Do they even have cable in North Dakota?

[upthecreek]

http://money.cnn.com/2018/05/04/news/economy/april-jobs-report/index.html?adkey=bn