Annette_Meisner said…

The claim that the new USA tariff’s on foreign goods would raise consumer prices has been debunked. Donald Trump’s declaration that tariffs on $200 billion of Chinese goods resulted in a deluge of outrageous fear mongering. The reports are in – reports show prices did not rise.

In fact, Donald Trump’s insistence that American consumers do not suffer from tariffs is entirely borne out by the data.

On June 11, 2019, John Carney at Breitbart reports:
“So who’s paying for the tariffs?” The U.S. government has collected billions in tariffs, so it is clear that someone is footing the bill. Tariffs are taxes, but unlike a sales tax or a gas tax, consumers do not directly pay any tariffs. Tariffs are paid by importers, often large U.S. companies that are importing from their own foreign subsidiaries or foreign contractors. Sometimes they have to absorb the costs instead of raising prices… Regarding aluminum tariffs; it’s likely that businesses have been better able to absorb the higher prices of imported goods or tariffed metals because last year’s massive cut in the corporate tax rate gave a big boost to after-tax profits. That softens the blow of tariffs.”

More here:

Carl Lambrecht said…

Tomorrow I am going to Wisconsin. One of the reason is to reduce taxes for fuel.
Years ago I did the same in Italy. All the time I lived in Italy. I bought about 3 gallons of gasoline.
Now I need to do the same in Illinois. The government of Illinois is trying to destroy the private sector of the economy. Trump is defending the people. Our Socialist in Illinois Pritzker, Cullerton and Madigan are as corrupt as Stalin.
Love Saves Lives
Carl Lambrecht

Monday, July 01, 2019