Republicans pushing 20% consumer price increase.

[ldub23]

Its called the Border Adjustment Tax, really a tariff. Supposedly its to pay for lowering taxes. I have never understood the concept of "paying for" a tax cut anyway. Its not the govt's money to begin with. Imports will be taxes at 20% so as an example a barrel of  oil will cost 20% more which will of  course result in 20% higher energy prices for everyone, and thats  just  1 example.

[Solar]

LINK?

[ldub23]

I heard about it on the Bob Brinker show this afternoon. He debunked the notion that it wont cause inflation and also said  it  is a tariff, regardless of people saying  it  isnt. One other thing, if the dollar rockets up in value as a result  of this as its supposed to, he says the stock market will plummet.

[Solar]

I heard about it on the Bob Brinker show this afternoon. He debunked the notion that it wont cause inflation and also said  it  is a tariff, regardless of people saying  it  isnt. One other thing, if the dollar rockets up in value as a result  of this as its supposed to, he says the stock market will plummet.

So in other words, it's hearsay. Got it.

[ldub23]

Far from hearsay my good friend. I strongly suggest you contact congress and  oppose this massive republican tax  hike.

http://money.cnn.com/2017/02/02/news/economy/border-adjustment-tax-for-and-against/index.html

"But the thing is, the effects of a border adjustment tax on trade and prices are supposed to be neutral. For that to happen, the U.S. dollar would need to strengthen considerably and quickly. Economists expect that to happen because demand would go up for U.S. products overseas and demand would go down for imported products in America."

Like i said if the dollar does go way up the stock market goes way down with alot  of  peoples retirement money down the drain.

[ldub23]

I am really surprised yall dont know this is being  pushed  by  republicans. Its also very  similar to the European VAT tax, and like that  tax this one will keep going  upand up and  up.

[Solar]

Far from hearsay my good friend. I strongly suggest you contact congress and  oppose this massive republican tax  hike.

http://money.cnn.com/2017/02/02/news/economy/border-adjustment-tax-for-and-against/index.html

"But the thing is, the effects of a border adjustment tax on trade and prices are supposed to be neutral. For that to happen, the U.S. dollar would need to strengthen considerably and quickly. Economists expect that to happen because demand would go up for U.S. products overseas and demand would go down for imported products in America."

Like i said if the dollar does go way up the stock market goes way down with alot  of  peoples retirement money down the drain.

I won't tell you again. From now on when you post a new thread, you back it up with a link, other wise I'm going to start deleting them!
Did I make myself clear enough this time?

[quiller]

What is a Bob Brinker, and why should we care?

[Béal Feirste]

I am really surprised yall dont know this is being  pushed  by  republicans. Its also very  similar to the European VAT tax, and like that  tax this one will keep going  upand up and  up.

Actually the VAT is a bit closer to what you would call a sales tax, not calculated exactly the same but similar idea.

[taxed]

Actually the VAT is a bit closer to what you would call a sales tax, not calculated exactly the same but similar idea.

Wrong.  The VAT is nothing like a sales tax.

[Béal Feirste]

Wrong.  The VAT is nothing like a sales tax.

My mistake, I was under the impression that sales tax was a sort of consumption tax.

[taxed]

My mistake, I was under the impression that sales tax was a sort of consumption tax.

It is, but it's not the VAT.  A VAT is completely different than a sale tax.

[Solar]

My mistake, I was under the impression that sales tax was a sort of consumption tax.

A sales tax is a one time payment, while a VAT, taxes every step of production.

[supsalemgr]

A sales tax is a one time payment, while a VAT, taxes every step of production.

And hidden during the entire process.

[Solar]

And hidden during the entire process.

Yep, except to the poor guy having to hire another accountant to track the products every step of production.
What a fuckin nightmare for any business owner, knowing at any time the govt can demand your production records.