Why Did Rush Limbaugh Stop Telling Us What He Thinks?

[Smokin Joe]

Link?

He'll back peddle on that here shortly...give him time.  He still wants to impost a 3% tax on the companies keeping their cash assets offshore...even though they've already payed corporate taxes on them in the country where the Headquarters is located.

Trumps call for a 45% tariff.

http://www.businessinsider.com/donald-trump-45-tariff-chinese-imports-china-2016-1?op=1

That's an instant 45% tax on anything you buy in the store these days.

He wants to punish companies that move manufacturing outside the U.S. 

How is that going to motivate them to create more jobs in the U.S.?

Will a 45% tariff induce companies to move manufacturing back into the over regulated environment they moved out of? Will it induce them to move back to the land of the aspiring snowflake with a tort lawyer on speed dial, just drooling at the thought of the right micro-aggression? The business environment in the US was bad enough to entice those companies to move out in the first place.

No. But it will inflate the cost of virtually everything. When the unemployment rates are cooked to make the government look better by not including those who have no benefits to draw or who have been out of work so long they just don't count any more, we have no clear picture of just how much that will hurt America. The Smoot-Hawley Tariffs are still debated as to whether they caused the Great Depression, but almost all economists agree the effect was to worsen the situation. Those who don't learn from history...

[wolfcreek]

Link?

http://www.wsj.com/articles/u-s-treasury-unveils-new-steps-to-limit-tax-inversions-1459803636

They've been doing this since late 2014.

[wolfcreek]

He said he wanted a 45% tariff on companies leaving. This will no doubt be answered with similar actions by other countries, and will make our workers poorer.

Globalism has frozen wages essentially making workers poorer. Keeping companies and jobs here while bring back the ones who left is the key.

[Weird Tolkienish Figure]

Globalism has frozen wages essentially making workers poorer. Keeping companies and jobs here while bring back the ones who left is the key.

You are 100% wrong about this. Nearly every mainstream economist agree with me: all workers are consumers and tariffs punish all workers, and protect a handful.

[A-Lert]

You are 100% wrong about this. Nearly every mainstream economist agree with me: all workers are consumers and tariffs punish all workers, and protect a handful.

Workers. Our problem is we don't have enough people working.

http://money.cnn.com/2016/04/05/news/economy/us-unemployment-rate/index.html

America's unemployment rate is higher than 5%. Now a Wall Street bank agrees with them.

The real rate is "more like 6%+," Bank of America Merrill Lynch said in a research report Tuesday.

Bank of America believes that over 10 million people want a job and can't get one. But by the Obama administration's count, only 8 million people are among those firing off resumes online and showing up at job fairs with no luck.

It's a substantial difference. It means the job market hasn't fully healed, argues Bank of America.

http://www.tradingeconomics.com/china/unemployment-rate

Unemployment Rate in China decreased to 4.04 percent in the first quarter of 2016 from 4.05 percent in the fourth quarter of 2015. Unemployment Rate in China averaged 4.13 percent from 2002 until 2016, reaching an all time high of 4.30 percent in the fourth quarter of 2003 and a record low of 3.90 percent in the third quarter of 2002. Unemployment Rate in China is reported by the Ministry of Human Resources and Social Security of the PRC.

The population of the PRC is 1.4 billion compared to our 320 million.

[Weird Tolkienish Figure]

Workers. Our problem is we don't have enough people working.

http://money.cnn.com/2016/04/05/news/economy/us-unemployment-rate/index.html

America's unemployment rate is higher than 5%. Now a Wall Street bank agrees with them.

The real rate is "more like 6%+," Bank of America Merrill Lynch said in a research report Tuesday.

Bank of America believes that over 10 million people want a job and can't get one. But by the Obama administration's count, only 8 million people are among those firing off resumes online and showing up at job fairs with no luck.

It's a substantial difference. It means the job market hasn't fully healed, argues Bank of America.

http://www.tradingeconomics.com/china/unemployment-rate

Unemployment Rate in China decreased to 4.04 percent in the first quarter of 2016 from 4.05 percent in the fourth quarter of 2015. Unemployment Rate in China averaged 4.13 percent from 2002 until 2016, reaching an all time high of 4.30 percent in the fourth quarter of 2003 and a record low of 3.90 percent in the third quarter of 2002. Unemployment Rate in China is reported by the Ministry of Human Resources and Social Security of the PRC.

The population of the PRC is 1.4 billion compared to our 320 million.

Yeah ok. But most people work, or are retired. How do higher prices help them?

They don't. They make us all poorer. Tariffs have other bad effects as well.

[wolfcreek]

You are 100% wrong about this. Nearly every mainstream economist agree with me: all workers are consumers and tariffs punish all workers, and protect a handful.

I didn't say it wouldn't. Fact is globalism is not free trade. China, for example, jacks us over both directions.

[Weird Tolkienish Figure]

I didn't say it wouldn't. Fact is globalism is not free trade. China, for example, jacks us over both directions.

This is what Trade deals and pacts try to do, not have either side "jack" the other.

There is a place for tariffs and they should be punitive. They are not a vehicle to prosperity and should not be thought of that way.

[wolfcreek]

This is what Trade deals and pacts try to do, not have either side "jack" the other.

There is a place for tariffs and they should be punitive. They are not a vehicle to prosperity and should not be thought of that way.

IMO, it just a way to force the parties to the table. Let's make a deal. Something Obama has had no stomach for.

[Weird Tolkienish Figure]

IMO, it just a way to force the parties to the table. Let's make a deal. Something Obama has had no stomach for.

To me it sounded like Trump wanted a tariff on companies just for leaving, with no or little evidence of "monkey business" on the part of the nations involved. Another issue is all the foreign companies that have plants here in the US. How is that fair to other nations. I see that the first American built plane just left the Airbus plane somewhere down South. How about Honda and all the other companies that have plants in the US? What happens when other nations create punitive tariffs and those plants leave?

[A-Lert]

Yeah ok. But most people work, or are retired. How do higher prices help them?

They don't. They make us all poorer. Tariffs have other bad effects as well.

10 million unemployed isn't acceptable. There is nothing wrong with fair trade. We can't continue to carry huge trade deficits much longer. What good are cheap imports if people in this country don't have jobs?

[Weird Tolkienish Figure]

10 million unemployed isn't acceptable. There is nothing wrong with fair trade. We can't continue to carry huge trade deficits much longer. What good are cheap imports if people in this country don't have jobs?

There are other ways to facilitate the growth of employment without penalizing those of us who already have jobs. Making goods more expensive will hurt *all* of us, even those of us who already have jobs. Like my wife and I. Tariffs will hurt the middle class, not help it.

[txradioguy]

10 million unemployed isn't acceptable. There is nothing wrong with fair trade. We can't continue to carry huge trade deficits much longer. What good are cheap imports if people in this country don't have jobs?

Fair trade is a common term used by the left.  There is nothing "fair" about fair trade.  At best it's crony capitalism and at worst it's top down government controlled commerce.  The Feds trying to control the winners and losers is what "fair" trade is really about.

Conservatives talk FREE trade.  RINO's and Liberals harp on the "fairness".

[A-Lert]

There are other ways to facilitate the growth of employment without penalizing those of us who already have jobs. Making goods more expensive will hurt *all* of us, even those of us who already have jobs. Like my wife and I. Tariffs will hurt the middle class, not help it.

So offer me a solution. People on welfare and those unemployed cost all of us working taxpayers, don't they?

[A-Lert]

Fair trade is a common term used by the left.  There is nothing "fair" about fair trade.  At best it's crony capitalism and at worst it's top down government controlled commerce.  The Feds trying to control the winners and losers is what "fair" trade is really about.

Conservatives talk FREE trade.  RINO's and Liberals harp on the "fairness".

So how do you propose to solve the $19 trillion dollar debt and ever increasing trade deficit? What are your proposed solutions?

[Weird Tolkienish Figure]

So offer me a solution. People on welfare and those unemployed cost all of us working taxpayers, don't they?

Lower tax, regulations, etc. free up capital, employ people.

[A-Lert]

Lower tax, regulations, etc. free up capital, employ people.

Okay, we lower taxes and free up capital. What guaranty is there that the investment will be made in the USA?  What incentives are there for manufacturers/corporations to remain here? Foreign countries like China, Mexico, Bangladesh, India and Pakistan will still have fewer regulations and much cheaper labor and benefit costs.

[Weird Tolkienish Figure]

Okay, we lower taxes and free up capital. What guaranty is there that the investment will be made in the USA?  What incentives are there for manufacturers/corporations to remain here? Foreign countries like China, Mexico, Bangladesh, India and Pakistan will still have fewer regulations and much cheaper labor and benefit costs.

There are natural tariffs, where just the cost of transporting goods adds to the cost and lowers the competitive advantages of those nations. Not all jobs are offshorable, and the smaller the company, the less the advantage of offshoring. Heavy equipment is usually the hardest to offshore. Not everything leaves.

[A-Lert]

There are natural tariffs, where just the cost of transporting goods adds to the cost and lowers the competitive advantages of those nations. Not all jobs are offshorable, and the smaller the company, the less the advantage of offshoring. Heavy equipment is usually the hardest to offshore. Not everything leaves.

http://www.wsj.com/articles/caterpillar-will-move-jobs-from-illinois-to-mexico-1426875264

Caterpillar Will Move Jobs from Illinois to Mexico

[jmyrlefuller]

Obama has been threatening them.

Seriously?

You're noting Trump and Obama agree on his signature issue, and you're trumpeting (no pun intended) that as a good thing?

[sinkspur]

So how do you propose to solve the $19 trillion dollar debt and ever increasing trade deficit? What are your proposed solutions?

LOL!! We've had trade deficits for 30 years. The reason, as has been pointed out to you before, is that we are rich and can buy all kinds of stuff from other countries, and they are poor, so they can't buy as much of our stuff. We get cheap stuff, they get our paper.  Nobody is hurt because of a trade deficit.

Trade deficits are not a problem.  That you and Trump harp on them demonstrates economic ignorance.

[Weird Tolkienish Figure]

http://www.wsj.com/articles/caterpillar-will-move-jobs-from-illinois-to-mexico-1426875264

Caterpillar Will Move Jobs from Illinois to Mexico

Unions just push it more and more.

[A-Lert]

LOL!! We've had trade deficits for 30 years. The reason, as has been pointed out to you before, is that we are rich and can buy all kinds of stuff from other countries, and they are poor, so they can't buy as much of our stuff. We get cheap stuff, they get our paper.  Nobody is hurt because of a trade deficit.

Trade deficits are not a problem.  That you and Trump harp on them demonstrates economic ignorance.

When we have little to sell, fewer people working, increased taxation for those who are employed  and the debt continues to climb, what is your rosy outlook for the future?

[Smokin Joe]

Unions just push it more and more.

That, the snowflake and tort environment (I know a drilling supervisor who got sued for allegedly calling a rig hand a "beaner". He didn't but he got sued anyway.). Add in HSE regs, and who wants to make anything here?

[wolfcreek]

To me it sounded like Trump wanted a tariff on companies just for leaving, with no or little evidence of "monkey business" on the part of the nations involved. Another issue is all the foreign companies that have plants here in the US. How is that fair to other nations. I see that the first American built plane just left the Airbus plane somewhere down South. How about Honda and all the other companies that have plants in the US? What happens when other nations create punitive tariffs and those plants leave?

I don't think it's aimed at foreign companies with plants in the US. They won't be importing.