Sunday Morning Talk Show Thread 4 March 2018

Yes, they do. The West and the Arabs are punters compared to the chinese. They do it because they’ve been doing it for 5000 years or so. They do it because it is the nature of the their religion archetypes.

Yup

Well I’m on to them.

Don’t tell anyone :)

From a Capitalism standpoint it means the subsidy actually goes to the US Treasury rather than the State producer. The consumer is hurt by not being subsidized by the producing country.

From a Capitalism standpoint it means that foreign governments subsidize their products to give them an unfair advantage in the global market. For example, the Chinese are dumping their cheap steel and aluminum on to the US market below production costs thus killing our domestic industries, which can't compete. And to compound matters, the Chinese protect their own markets thru their own tariffs. The US is the least protectionist country in the world, which is why almost every country in the world runs a trade surplus with the US.

What happens when the US loses good paying jobs in the steel and aluminum industries? American workers are paying the price. The relative small price the consumer pays is more than offset by the benefits that accrue to our workers and to our national security.

The globalist have sold us a bill of goods that is destroying the manufacturing and tax base of the country. In January 1914, Henry Ford started paying his auto workers a remarkable $5 a day. Doubling the average wage helped ensure a stable workforce and likely boosted sales since the workers could now afford to buy the cars they were making.

For most of our history, the US has used tariffs to protect our industries and workers. The globalists have created the myth that protectionism is an unalloyed disaster.

Trump Is Right on Trade

Between the Civil War and World War I, under Republicans, the U.S. became the world’s greatest industrial power and a wholly self-sufficient nation. How? We taxed foreign goods entering the United States, but did not tax the profits of U.S. companies or the incomes of U.S. workers.

The difference between economic patriots and globalists who inhabit corporate-funded think tanks and public policy institutes is that the latter think of what is best for their corporate benefactors and the global economy. The former put America and Americans first.

Academics revere Adam Smith, David Ricardo and Richard Cobden.

But none of them ever built a great nation. Patriots look to Alexander Hamilton and those post-Civil War Republicans who built the greatest national industrial powerhouse the world had ever seen.

Indeed, what great nation did free trade ever build?

As father of a united Germany, Chancellor Bismarck said, when he decided to build Germany on the American and not the British model, “I see that those countries which possess protection are prospering, and that those countries which possess free trade are decaying.”

So it is true today. Unfortunately, it is America, now wedded to the fatal dogma of free trade, that is decaying.

I just now had the experience of watching Maria B. vs. The pearl and handbag, high heels Clutcher, Jr Wall ass.
I had to shut it off. Like watching machine gun clips worth of BS.

What a truly pathetic little Sissy is Chrissy Prissy :0

So if the Koreans are subsidizing their steel industry 25% and we charge a 25% tariff then we are in affect getting their subsidy to the Treasury.

Well I’m on to them.

Don’t tell anyone :)

You're on something else too. Don't worry, I won't ask and I won't tell about you.

Shame that your brilliant post #244 came so late on the thread. I wish that your wisdom could be shared by a multitude of fellow Americans. Thank you for taking your time for my and others benefit.

So if the Koreans are subsidizing their steel industry 25% and we charge a 25% tariff then we are in affect getting their subsidy to the Treasury.

So what is wrong with that? We are already running huge deficits. Getting foreign countries to help pay into Federal revenue is better than taxing our people and the corporations. Before the personal income tax, we used to run our country using tariffs and duties, among other sources of income.

Notes:

Largest sources of excise tax revenues are: Fuel, Tobacco, Airport, Health Insurance providers, and Alcohol

Largest sources of “other” revenues are: Federal Reserve Deposits, Customs Duties & Fees, and Estate and Gift tax

Korea - Import Tariffs

Includes information on average tariff rates and types that U.S. firms should be aware of when exporting to the market. Last Published: 6/20/2017

The U.S.-Korea FTA was implemented on March 15, 2012. Prior to that, the average basic tariff on U.S. goods was approximately 7.9 percent and duty rates were high on a large number of high-value agricultural and fisheries products.

With the FTA, 95% of tariffs on U.S. imports were eliminated by March 15, 2017. The U.S. Department of Commerce’s FTA Tariff Tool can help U.S. exporters identify the harmonized system number for their products and the associated tariff rates over the next ten years. Exporters can also contact the U.S. Agricultural Trade Office, affiliated with the U.S. Embassy in Seoul, for specific information on agricultural tariff rates.

Korea also maintains a tariff quota system designed to stabilize domestic commodity markets. Customs duties can be adjusted every six months, within the limit of the basic rate, plus or minus 40 percent.

Korea has a flat 10 percent Value Added Tax (VAT) on all imports and domestically-manufactured goods. A special excise tax of 10-20 percent is also levied on the importation of certain luxury items and durable consumer goods. Tariffs and taxes must be paid in Korean Won within 15 days after goods have cleared Customs.

Customs Valuation

Duties are assessed on a Cost-Insurance-Freight (CIF) basis. The main mode of customs evaluation is the transaction value method. Other methods under the WTO appraisement hierarchy may be used if there are doubts about Korean Customs valuation methods on the stated value.

A Value Added Tax rate of 10 percent is applied on imports based on customs value plus duties.

Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.

Agree completely. In an equal world taxes would be a negative but in this case it is leveling the playing field and paying taxes to the gummit.

In an equal world taxes would be a negative but in this case it is leveling the playing field and paying taxes to the gummit.

I have no problem with foreign governments and companies paying into the coffers of the USG defraying costs for the USG and protecting our workers and industries. We have the most coveted market in the world, and yet we act like we are negotiating from a position of weakness. The globalists and libertarians are wringing their hands about a trade war. The fact is that we have been engaged in a trade war for decades and we are losing badly.

The Koreans assess all our exports with a 10% VAT even under a FTA. The EU assesses a 10% charge on the importation of US made autos and we assess them 2.5%. The EU protects its farmers making it difficult for our agricultural products to penetrate their market. 133 countries have so called border adjustments primarily in the form of VATS that make it more difficult for our exports. The point is that we are being taken advantage of. There is no reciprocity.

Democrat=liberal
Republican=Conservative
Independent=Republican who swore he would never vote Republican
Libertarian=Independent who smokes dope