Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Trump will raise tariff rates on Chinese goods in response to trade war retaliation
CNBC ^ | 08/23/2019 | Jacob Pramuck

Posted on 08/23/2019 3:00:51 PM PDT by mplc51

click here to read article


Navigation: use the links below to view more comments.
first previous 1-20 ... 81-100101-120121-140141-146 last
To: gogeo

You seem to equate “planned economies” with the subject of economics and those who have a reasonable grasp of economics.

Although many, probably most, economists are Leftist Keynesian, that doesn’t negate or exclude the reality of Free Market Economics, which is the successful use of the laws of economics, nor does it make tariffs anything more than what it is - a palliative, not a curative, measure, fooling a lot of people and makes them feel good because tariffs appear to be doing something about the underlying problems but in actuality don’t.

Many try to make the free market more mysterious than it already is - unknown and unknowable. Those people don’t really know what they are talking about IMO. The free market is simply the voluntary cooperation between buyers and sellers in the openly competitive market free from government interference. The free market creates wealth, not just for the direct participants but via John Adam’s “invisible hand” creates wealth in the aggregate.

Secondly, U.S. tariffs is a tax on goods sold in the U.S. How is that not U.S. consumers not paying for U.S. tariffs?


141 posted on 08/25/2019 9:19:51 AM PDT by Jim W N (MAGA by restoring the Gospel of the Grace of Christ and our Free Constitutional Republic!)
[ Post Reply | Private Reply | To 140 | View Replies]

To: Jim 0216
Your post illustrates my point.

"Economics" is not the economy. "Economics" is the study of the economy, with models, theories, and predictions that seek to model the economy. As with any other intellectual pursuit, it's not for the intellectually lazy...IE, anyone who doesn't understand the limitations of economics.

That includes "those who have a 'reasonable' grasp of economics."

Economics, like any model, is only as good as the quality of the model...and the application. It can be very good, or very bad. It's not the end of understanding the economy, but merely the start.

How is it, you ask, that US consumers are not paying for the tariffs? They must be, you say, because that's what the model says...regardless of the real world results.

Except that there are assumptions behind the model, sometimes valid, sometimes not. Do you have any idea what they are, in this case?

I'll give you a hint..."Static Analysis."

142 posted on 08/28/2019 7:55:53 AM PDT by gogeo (The left prides themselves on being tolerant, but they can't even be civil.)
[ Post Reply | Private Reply | To 141 | View Replies]

To: gogeo

U.S. tariffs is a tax on the American consumer. That’s a fact, Jack.


143 posted on 08/28/2019 9:31:23 AM PDT by Jim W N (MAGA by restoring the Gospel of the Grace of Christ and our Free Constitutional Republic!)
[ Post Reply | Private Reply | To 142 | View Replies]

To: Jim 0216
U.S. tariffs is a tax on the American consumer. That’s a fact, Jack.

According to the gospel of econ...and you're wrong. Care to discuss?

144 posted on 08/28/2019 11:28:46 AM PDT by gogeo (The left prides themselves on being tolerant, but they can't even be civil.)
[ Post Reply | Private Reply | To 143 | View Replies]

To: gogeo

The way tariffs work is the government forces raised prices on targeted incoming goods. It is a form of wage and price control but in this case forcing higher prices.

You might say, “Well that’s not a tax on the consumer”, but effectively it is. The payment of the tariff-hiked money comes out of the consumer’s pocket and goes nowhere but into the government’s pocket.

So then you might say, “Well they don’t have to buy those goods.” But now government is forcing artificially high prices on the market place on goods the consumer ordinarily wants. So now, the consumer is forced to either pay more for what he wants or choose an often lower quality item he would ordinarily not get.

Tariffs force consumers to choose a lower quality:price item allowing lower quality:price products (usually American special-interest products bound by government policies of anti-business regulations, unions, and taxes) to succeed. The consumer loses and special interests win.

Generally, current demand is the level of the current expected standard of living. As always and in this case in particular, government interference in the marketplace (in this case tariffs) lowers the standard of living.

In the meantime, tariffs do nothing to solve the underlying root causes of inferior U.S. products because those underlying problems (anti-business regulations, unions, and taxes) are caused by the same government that is now putting another layer of interference into the marketplace.

And what makes it worse is many think these government measures are solving our long-term root causes. But again as usual, the government will put off what is REALLY needed to fix the root causes which would be GET GOVERNMENT OUT OF THE MARKETPLACE AND QUIT INTERFERING WITH FREE ENTERPRISE.


145 posted on 08/28/2019 12:04:33 PM PDT by Jim W N (MAGA by restoring the Gospel of the Grace of Christ and our Free Constitutional Republic!)
[ Post Reply | Private Reply | To 144 | View Replies]

To: Jim 0216

I have to guess, and correct me if I am wrong, both parties have been complicit in this. Seriously, other than a handful, when have you ever heard a Congressman speak ill of China? But they have plenty of vitriol for Russia.


146 posted on 09/03/2019 11:33:18 AM PDT by Sam Gamgee
[ Post Reply | Private Reply | To 55 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-20 ... 81-100101-120121-140141-146 last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson