Can Trump seize this once-in-a-lifetime opportunity to fix the tax code?

[IsailedawayfromFR]

 :th_10444:d

Good luck getting a straight answer...she'll need a ladder to get off her high horse first. 

Yep, throwing out dubious claims then refusing to back them up and instead obfuscating with frivolous comments when caught.

Some characters can be readily identified.

[IsailedawayfromFR]

Tariffs certainly played a part in it:

http://www.economist.com/node/12798595

The world is very close to a tipping point with all the printing/borrowing of money and only needs a few pushes in the wrong direction to trigger a chain reaction.

You better reread that material.

The 29 crash occurred in 1929.

Smoot Hawley was not passed until 1930.

I repeat: tariffs did not cause the 29 crash.

Try one more time.

[DB]

You better reread that material.

The 29 crash occurred in 1929.

Smoot Hawley was not passed until 1930.

I repeat: tariffs did not cause the 29 crash.

Try one more time.

You better read what I wrote. I said "it certainly played a part in it". Nothing more, nothing less. And the article clearly stated that the majority of economist were against it because of what would happen, and it did happen.

And a clarification, I wasn't talking about the stock market, I was talking about the depression which is what mattered.

[IsailedawayfromFR]

You better read what I wrote. I said "it certainly played a part in it". Nothing more, nothing less. And the article clearly stated that the majority of economist were against it because of what would happen, and it did happen.

And a clarification, I wasn't talking about the stock market, I was talking about the depression which is what mattered.

Ok, so what tariffs 'played a part' in the 29 market crash?  Certainly your source does not indicate that.

It instead talks about how the THREAT of tariffs exacerbated it.

See the difference?

And about the Great Depression, I never once mentioned that, as I was always talking about the crash.  Go back and reread my comments and your responses.

[DB]

Ok, so what tariffs 'played a part' in the 29 market crash?  Certainly your source does not indicate that.

It instead talks about how the THREAT of tariffs exacerbated it.

See the difference?

And about the Great Depression, I never once mentioned that, as I was always talking about the crash.  Go back and reread my comments and your responses.

You're the one being argumentative. I simply posted an analysis of what the tariffs did, their consequences and how they came about. And my point was tariffs did play a significant part in the great depression, which is what matters. That's what affected millions of lives. I could give a blank with the stock market did for the most part.

And the point of all of this is tariffs have negative consequences and if we try it again we could well have the same results in a very unstable world.

[Frank Cannon]

Can Trump seize this once-in-a-lifetime opportunity to fix the tax code?

He can't seize it. He has unusually small hands.

[Hoodat]

This is the same Donald Trump who trashed the Reagan tax cuts and argued that raising taxes promotes economic growth.

[Longmire]

I simply posted an analysis of what the tariffs did, their consequences and how they came about. And my point was tariffs did play a significant part in the great depression, which is what matters. That's what affected millions of lives. I could give a blank with the stock market did for the most part.

And the point of all of this is tariffs have negative consequences and if we try it again we could well have the same results in a very unstable world. 

It would be a mistake to draw simplistic conclusions about the effect of tariffs generally from one specific use of them.

Don't fall into that trap.

[IsailedawayfromFR]

It would be a mistake to draw simplistic conclusions about the effect of tariffs generally from one specific use of them.

Don't fall into that trap.

i agree.

I also object to people who claim something that never happened.

No tariffs caused the '29 crash, as the law authorizing them was not even passed into law when it happened.

[Emjay]

??? You are forgetting that slashing corporate taxes will benefit him as well. I see it as a potential win-win situation; encouraging businesses and corporation to stay in the U.S and incentivize foreign companies to do business here is not a bad thing.

Good point... but does Trump pay taxes and does he even make a profit when you figure in bankruptcies and lawsuits.  That's why it would have been good to see his tax returns.

I hope Trump will see something in the tax code that he can change to benefit himself and his friends ... because that's the only way it will interest him.

But if he does do something, I promise to come back her and blow kisses at him.

[txradioguy]

Ok, so what tariffs 'played a part' in the 29 market crash?  Certainly your source does not indicate that.

You can start with the Fordney–McCumber Tariff act.

It instead talks about how the THREAT of tariffs exacerbated it.

See the difference?

And about the Great Depression, I never once mentioned that, as I was always talking about the crash.  Go back and reread my comments and your responses.

The aforementioned Fordney tariff act and the follow on Smoot tariff act lit off a trade and tariff war with other countries.  Up until these tariff acts began to be implemented we were running a trade surplus with the world.  We opened the door to retaliatory tariffs on things we imported to this country from places like Switzerland, France and other places in Europe, South America and Asia.

It forced plants to close, people to be laid off and increased sometimes up to 90% the cost if imported merchandise that people wanted to buy in this country.

[txradioguy]

This is the same Donald Trump who trashed the Reagan tax cuts and argued that raising taxes promotes economic growth.

Excellent point.

[ABX]

You can start with the Fordney–McCumber Tariff act.

The aforementioned Fordney tariff act and the follow on Smoot tariff act lit off a trade and tariff war with other countries.  Up until these tariff acts began to be implemented we were running a trade surplus with the world.  We opened the door to retaliatory tariffs on things we imported to this country from places like Switzerland, France and other places in Europe, South America and Asia.

It forced plants to close, people to be laid off and increased sometimes up to 90% the cost if imported merchandise that people wanted to buy in this country.

Thanks, you beat me to it. Most agree that Smoot prolonged the depression, but Fordney–McCumber is one of several 'perfect storm' problems that hit the economy at the same time. In its case, severely limiting trade and crashing the dollar that was already having problems due to federal banking problems.

[geronl]

No need for Trumpsplaining. He has made it very clear on many occasions that he wants to impose tariffs and has even admitted that prices will naturally be "a little higher".

he also mentioned different tax rates on different corporations, which would be based on whether he likes them or not

[Idaho_Cowboy]

I think you are misunderstanding. I have little doubt that Trump will promote FAIR trade rather than FREE trade.

http://www.wsj.com/articles/donald-trump-poised-to-put-pressure-on-nafta-1479746005

If promoting fairness over freedom doesn't smell like liberal BS I don't know what does...

[geronl]

If promoting fairness over freedom doesn't smell like liberal BS I don't know what does...

exactly

[IsailedawayfromFR]

You can start with the Fordney–McCumber Tariff act.

The aforementioned Fordney tariff act and the follow on Smoot tariff act lit off a trade and tariff war with other countries.  Up until these tariff acts began to be implemented we were running a trade surplus with the world.  We opened the door to retaliatory tariffs on things we imported to this country from places like Switzerland, France and other places in Europe, South America and Asia.

It forced plants to close, people to be laid off and increased sometimes up to 90% the cost if imported merchandise that people wanted to buy in this country.

Thanks for bringing up the Fordney–McCumber Tariff act.

It seems that when it came about in 1922, Congress was acting in the nation's best interests in protecting American jobs for those coming back from the war.  Initially, it seems it was successful in its goals and produced economic prosperity during the 'roaring twenties'.

Perhaps it indeed achieved its goals sufficiently to have been scaled back in the latter part of the 20s.

In any event, that tariff act may have lasted too long and caused some problems with our trading partners that escalated a situation when the Smoot Hawley act was under consideration.

This country has a history of use of tariffs and, if its usage remains solid to its goals, deserves to be a continued mechanism for preservation of American jobs.

That history and its worth were not brought up in a favorable light in prior discussions, and I do wish them to not always be seen to be some type of evil economic and political weapon.

[geronl]

This country has a history of use of tariffs and, if its usage remains solid to its goals, deserves to be a continued mechanism for preservation of American jobs.

That history and its worth were not brought up in a favorable light in prior discussions, and I do wish them to not always be seen to be some type of evil economic and political weapon.

We are the second largest exporter on the planet. I'm sure we can live without those exports, lol.

[txradioguy]

This country has a history of use of tariffs and, if its usage remains solid to its goals, deserves to be a continued mechanism for preservation of American jobs.

What good is preserving American job is no one is buying our products overseas because we've added a 45% tax on top of whatever it already costs to buy it?

What's to stop other countries from doing the same thing for the same reasons?

This starts the global economy down a dangerous path that is not good for anyone involved.

That history and its worth were not brought up in a favorable light in prior discussions, and I do wish them to not always be seen to be some type of evil economic and political weapon.

In the 20th Century though...tariffs have been used as a political weapon...with not so good results.

Trump wants to use them as a political weapon...and it will have the same not so good outcome.

[Sanguine]

Good luck getting a straight answer...she'll need a ladder to get off her high horse first. 

Now, see, @Longmire, I was really enjoying the back and forth and thinking how cute TBRers are when they're passionately but factually arguing over a point.  And, then here you come like the proverbial wet blanket and have to go straight for the jugular - in a personal way.  Why is that?  Why couldn't you act like a gentleman and go forth and argue?  Not be a d***.

[Frank Cannon]

Now, see, @Longmire, I was really enjoying the back and forth and thinking how cute TBRers are when they're passionately but factually arguing over a point.  And, then here you come like the proverbial wet blanket and have to go straight for the jugular - in a personal way.  Why is that?  Why couldn't you act like a gentleman and go forth and argue?  Not be a d***.

Wow @Sanguine. I believe that is the harshest comment I have ever seen you lay down. Bully for you.

If you need a list of foul language for further posts, PM me.

[Sanguine]

Wow @Sanguine. I believe that is the harshest comment I have ever seen you lay down. Bully for you.

If you need a list of foul language for further posts, PM me.

Thanks, @Frank Cannon.  I appreciate the offer.

[roamer_1]

I think you are misunderstanding. I have little doubt that Trump will promote FAIR trade rather than FREE trade.

I am afraid that 'Fair trade' label is not the same label as constructed last by Duncan Hunter, but rather, a cheap knock-off label made in China.

Watch and see.

[Longmire]

Yep, throwing out dubious claims then refusing to back them up and instead obfuscating with frivolous comments when caught.

Some characters can be readily identified.

Yep...and I notice we're still waiting for a straight answer.

Meanwhile the thought police have arrived... 

[Sanguine]

Yep...and I notice we're still waiting for a straight answer.

Meanwhile the thought police have arrived... 

"Thought police"?  I don't care what you are thinking as long as you keep it to yourself.