Trump new Announcement to pay for Border Wall ~ 20% tax on all Mexican imports

[exotix]

Just In


http://www.nbcnews.com/news/us-news/trump-suggests-canceling-meeting-mexico-s-president-after-shots-fired-n712461


http://res.cloudinary.com/luvckye9s/image/upload/v1485466989/14_vzeanm.png

[Beevee]

The figures are based on no change in imports and exports.
It's unlikely that Mexico would not make reprisals in some way or another.

[ripmeister]

And as it is with most taxes the cost will be carried over to the consumer. So if I want or need to buy a product that comes from Mexico who is paying for the wall? I am, the American taxpayer. Not exactly the deal trumpeted during the campaign by The Salesman.

[maineman]

Americans who buy beer, tequila, tomatoes, avocados, berries, cell phones, cars and appliances will pay for the wall. Mexico won't pay a DIME. The Orange Clown flat out lied and NOBODY on the right gives a shit.

[Newpublius]

Americans who buy beer, tequila, tomatoes, avocados, berries, cell phones, cars and appliances will pay for the wall. Mexico won't pay a DIME. The Orange Clown flat out lied and NOBODY on the right gives a $#@!.

But he's promising to LOWER taxes elsewhere. So now that you figured out that taxes levied by the government impact your bottom line, now recall that when taxes are LOWERED elsewhere.....that too will filter through to the pricing.

In aggregate, local, state, federal I am paying 56%, sorry guys but the tariff is going up on foreign trade and down on ME. I'd rather it not but I don't see why foreign trade is so sacrosanct.

[Bethere]

And as it is with most taxes the cost will be carried over to the consumer. So if I want or need to buy a product that comes from Mexico who is paying for the wall? I am, the American taxpayer. Not exactly the deal trumpeted during the campaign by The Salesman.

Exactly.

[maineman]

But he's promising to LOWER taxes elsewhere. So now that you figured out that taxes levied by the government impact your bottom line, now recall that when taxes are LOWERED elsewhere.....that too will filter through to the pricing.

In aggregate, local, state, federal I am paying 56%, sorry guys but the tariff is going up on foreign trade and down on ME. I'd rather it not but I don't see why foreign trade is so sacrosanct.

he promised to make Mexico pay for the wall, too, didn't he? why in the world do you believe this clown's promises?

[Bo-4]

But he's promising to LOWER taxes elsewhere. So now that you figured out that taxes levied by the government impact your bottom line, now recall that when taxes are LOWERED elsewhere.....that too will filter through to the pricing.

In aggregate, local, state, federal I am paying 56%, sorry guys but the tariff is going up on foreign trade and down on ME. I'd rather it not but I don't see why foreign trade is so sacrosanct.

Sorry NP but me no believe you're paying 56%

If I'm wrong?

Get a new CPA!!

[Newpublius]

And as it is with most taxes the cost will be carried over to the consumer. So if I want or need to buy a product that comes from Mexico who is paying for the wall? I am, the American taxpayer. Not exactly the deal trumpeted during the campaign by The Salesman.

Taxes of this nature are shared actually. Producers want consumers to eat it, and vice versa. In actuality they meet in the middle somewhere depending on their respective elasticities of supply and demand.

[Newpublius]

Sorry NP but me no believe you're paying 56%

If I'm wrong?

Get a new CPA!!

At all levels. I know you don't believe it because you live in ID.

Consider:

Median NJ household income 75k
median house 300k
average property tax 2% of value

Look these things up if you disbelieve me

6k property tax
Self employment tax is 15.3% $11,475

That's $17,475.00 off of 75k = 23.3%

That household still has not paid sales tax, gas tax, NJ income tax, and federal income tax.

Everybody with respect to those is differently situated. But even MIDDLING individuals are paying regularly > 40% , where taxes are SINGLE greatest expense.

Upper middle class.....ALL greater than 50%

So please don't fall for that liberal trap that taxes aren't bad. They are.

We're not voting for Trump because we're racist, mispgynist pigs, we're voting for him BECAUSE YOU'RE TAKING MOST OF MY MONEY.

Its outrageous.

[Bethere]

Taxes of this nature are shared actually. Producers want consumers to eat it, and vice versa. In actuality they meet in the middle somewhere depending on their respective elasticities of supply and demand.

Our friends don't know what elasticity is, dude.

[Beevee]

It appears that the White House is reneging on its suggestion of a 20% tax.
I wonder why?

[Newpublius]

he promised to make Mexico pay for the wall, too, didn't he? why in the world do you believe this clown's promises?

Why would I believe that? I had no belief that Mexico would directly pay for the wall, I always knew he meant to pay for it indirectly by tariffs.

That's what should pay for it, in a way not dissimilar from me paying for tolls I use.

[Newpublius]

It appears that the White House is reneging on its suggestion of a 20% tax.
I wonder why?

Because CONGRESS possesses this power......

[Bethere]

At all levels. I know you don't believe it because you live in ID.

Consider:

Median NJ household income 75k
median house 300k
average property tax 2% of value

Look these things up if you disbelieve me

6k property tax
Self employment tax is 15.3% $11,475

That's $17,475.00 off of 75k = 23.3%

That household still has not paid sales tax, gas tax, NJ income tax, and federal income tax.

Everybody with respect to those is differently situated. But even MIDDLING individuals are paying regularly > 40% , where taxes are SINGLE greatest expense.

Upper middle class.....ALL greater than 50%

So please don't fall for that liberal trap that taxes aren't bad. They are.

We're not voting for Trump because we're racist, mispgynist pigs, we're voting for him BECAUSE YOU'RE TAKING MOST OF MY MONEY.

Its outrageous.

They are at nearly historic lows.

The top marginal rate for Republican Eisenhower in the cherished good old days of the fifties was over 90%.

It's now 39.6%.

Have a great day.

[Newpublius]

Our friends don't know what elasticity is, dude.

Fancy way of saying who wants it more. A drug addicts demand for drugs is inelastic....he'll pay ANY price. Other products have greater elasticity, raise the price of Coke to $2 and lots of people buy Pepsi

[Newpublius]

They are at nearly historic lows.

The top marginal rate for Republican Eisenhower in the cherished good old days of the fifties was over 90%.

Have a great day.

Oh, you mean ONE rate charged was 90%. The government though still OVERALL collected far less. That means they took 90% ON THE MARGIN. Few paid that. Government spending is at a post ww2 high.

The taxes are unacceptable and what's more there's NO LIMIT. Always a little bit more.....and you turkeys are promising Sanders and you'll be taking 75% and telling me how reasonable it is compared to Eisenhower when the country was fighting a major war in Korea

There's another thing....peace. Stop fighting wars.

[Beevee]

Because CONGRESS possesses this power......

Are you inferring that the President of the United States doesn't realise that?

[decedent]

Just In


http://www.nbcnews.com/news/us-news/trump-suggests-canceling-meeting-mexico-s-president-after-shots-fired-n712461


http://res.cloudinary.com/luvckye9s/image/upload/v1485466989/14_vzeanm.png

In other words, Americans will be paying for the wall.

[Newpublius]

They are at nearly historic lows.

The top marginal rate for Republican Eisenhower in the cherished good old days of the fifties was over 90%.

It's now 39.6%.

Have a great day.

Again conflating ONE rate with the MYRIAD of other taxes they shove up our asses.

[Newpublius]

In other words, Americans will be paying for the wall.

No, actually both sides will pay for that

[Newpublius]

Are you inferring that the President of the United States doesn't realise that?

No, I think he does. He just realized he can't get it through...

[Bethere]

Fancy way of saying who wants it more. A drug addicts demand for drugs is inelastic....he'll pay ANY price. Other products have greater elasticity, raise the price of Coke to $2 and lots of people buy Pepsi

You don't have to explain it to the master. I took micro in school--both dots and micro economics, haha--I already knew.

we have posters talking about supply and demand curves who don't know what X and Y are.

talk to them.

[Beevee]

No, I think he does. He just realized he can't get it through...

Either he doesn't discuss policies with the people he appointed or the White House information is spurious.
Either way, it doesn't look good.

[Beevee]

Double post

[MMC]

In other words, Americans will be paying for the wall.

Wrong.....and this was already discussed with the across the board tax on imports and with the border adjustment.

[Bo-4]

At all levels. I know you don't believe it because you live in ID.

Consider:

Median NJ household income 75k
median house 300k
average property tax 2% of value

Look these things up if you disbelieve me

6k property tax
Self employment tax is 15.3% $11,475

That's $17,475.00 off of 75k = 23.3%

That household still has not paid sales tax, gas tax, NJ income tax, and federal income tax.

Everybody with respect to those is differently situated. But even MIDDLING individuals are paying regularly > 40% , where taxes are SINGLE greatest expense.

Upper middle class.....ALL greater than 50%

So please don't fall for that liberal trap that taxes aren't bad. They are.

We're not voting for Trump because we're racist, mispgynist pigs, we're voting for him BECAUSE YOU'RE TAKING MOST OF MY MONEY.

Its outrageous.

Cool, but i don't get it. My house recently appraised for 350

My self employed income for last year will be around 90

My quarterly estimated taxes are 2k per (i do have a buttload of legit write-offs)

And NO ..neither I nor Uncle Sam is taking "most of your money".

Sheesh - Trump has paid noting for the past 18 years or so .. divvy up my friend!

[Bethere]

Oh, you mean ONE rate charged was 90%. The government though still OVERALL collected far less. That means they took 90% ON THE MARGIN. Few paid that. Government spending is at a post ww2 high.

The taxes are unacceptable and what's more there's NO LIMIT. Always a little bit more.....and you turkeys are promising Sanders and you'll be taking 75% and telling me how reasonable it is compared to Eisenhower when the country was fighting a major war in Korea

There's another thing....peace. Stop fighting wars.
Sorry, but you doth protest too much.

17060

http://www.factcheck.org/2012/07/tax-facts-lowest-rates-in-30-years/

[Bo-4]

They are at nearly historic lows.

The top marginal rate for Republican Eisenhower in the cherished good old days of the fifties was over 90%.

It's now 39.6%.

Have a great day.

Yep, i just called BS also!

[Newpublius]

Either he doesn't discuss policies with the people he appointed or the White House information is spurious.
Either way, it doesn't look good.

I'm pro-NAFTA here. I hope he can't kill it. But between that and income taxes, if I have to suffer one to get the other, I'll take it.

As an aside in my leather business I couldn't ship NAFTA origination (US MADE) products to Mexico at all. Forst on leather items a 5% luxury surchsrge imposed by Mexico UNLESS you sell to a business. Then when you ship it customs males sure they workngood and hard not to get it through customs so basically NAFTA with rspect to Mexico was of absokutely no use to me. It shoyld've been a boon for business because its a big country with lots of people, like having a 51st state to sell too.....very disappointing.

[Newpublius]

Yep, i just called BS also!

And I explained it, didn't I?

Did I not conclusively show a middling NJnhousehold pays 23.3% without paying a single dime in income taxes?

[Newpublius]

Sorry, but you doth protest too much.

17060

http://www.factcheck.org/2012/07/tax-facts-lowest-rates-in-30-years/

Oh, ALL FEDERAL TAXES. I LIVE IN NJ IT ALL COUNTS.

And just as an aside self employment tax is 15.3% over and above what your federal income tax is.

Like I noted "In aggregate, local, state, federal I am paying 56%"

[Bo-4]

No, actually both sides will pay for that

I'd love to see details, however you don't have any :)

[Bethere]

Oh, ALL FEDERAL TAXES. I LIVE IN NJ IT ALL COUNTS.

Reagan's answer to that?

Move.


U.S. tax burden at lowest level since '58 - USATODAY.com

Americans are paying the smallest share of their income for taxes since 1958, a reflection of tax cuts and a weak economy, a USA TODAY analysis finds.

The total tax burden — for all federal, state and local taxes — dropped to 23.6% of income in the first quarter, according to Bureau of Economic Analysis (http://content.usatoday.com/topics/topic/Bureau+of+Economic+Analysis) data.

By contrast, individuals spent roughly 27% of income on taxes in the 1970s, 1980s and the 1990s — a rate that would mean $500 billion of extra taxes annually today, one-third of the estimated $1.5 trillion federal deficit this year.

http://www.usatoday.com/money/perfi/taxes/2011-05-05-tax-cut-record-low_n.htm

[Newpublius]

I'd love to see details, however you don't have any :)

How could you have details of a tax that hasn't been inposed. google up inpact of tariff on a previously untaxed market and you'll see the S & D curve diagrams explaining how the producers and consumers uktimately share the tax burden.

[Newpublius]

Reagan's answer to that?

Move.


U.S. tax burden at lowest level since '58 - USATODAY.com


http://www.usatoday.com/money/perfi/taxes/2011-05-05-tax-cut-record-low_n.htm

That's where TN comes in, but sadly I write to you from the People's Republic of NJ

[Bo-4]

And I explained it, didn't I?

Did I not conclusively show a middling NJnhousehold pays 23.3% without paying a single dime in income taxes?

Define "middling"

[Bethere]

That's where TN comes in, but sadly I write to you from the People's Republic of NJ

You shouldn't have voted for Chris Christie.

[Newpublius]

Define "middling"

I did above. If you dont want to read it, don't read it. Median household income in NJ is 75k, median house is 300k with a property tax that is 2%. NJ's municipalities' propery tax is what does it but even in states with lower taxes, you're still in a situation are the single largest expense. BY FAR. The second you are upper middle class in NJ, you are over 50%. When I had the business it was WORSE because of the property tax on the business.

Pay utilities there's tax on that and in a business that is 'above' the profit line, it deducts from your taxes but a straight rate still looks smaller than it is.

[Newpublius]

You shouldn't have voted for Chris Christie.

This all existed before him.

[MMC]

No, actually both sides will pay for that

Not at all.....and don't forget the leftness will deflect to other issues and the illiberals will talk about whatever else that doesn't pertain to the issue.



They are both wrong. Trump absolutely can make Mexico pay. And the answer lies in a provision of the corporate tax-reform plan House Republicans are planning to take up after Trump’s inauguration — the so-called “border adjustment.”


Trump criticized the border adjustment this weekend, telling the Wall Street Journal (http://www.wsj.com/articles/trump-warns-on-house-republican-tax-plan-1484613766) “Anytime I hear border adjustment, I don’t love it.” Here is why he should: It would force Mexico to give us every penny we need to pay for the wall, and then some.


The House Republicans’ plan (https://abetterway.speaker.gov/_assets/pdf/ABetterWay-Tax-PolicyPaper.pdf) would lower the corporate tax from 35 percent to 20 percent and apply the tax based on the location of consumption rather than the location of production. It would do this through a “border adjustment” that exempts exports while taxing imports. Under the plan, all imports coming into the United States would be subject to the 20 percent tax, but exports would have the tax refunded — making them tax-free.


Here is where the wall comes in: As economist Martin Feldstein explains (http://www.wsj.com/articles/the-house-gops-good-tax-trade-off-1483660843), the border adjustment would raise hundreds of billions in tax revenue — not from U.S. consumers or corporations, but from our foreign trading partners. Under the border adjustment, the United States would refund the tax on exports and charge it on imports — so the net revenue would be negative if we had a trade surplus, and positive if we had a trade deficit. Because the United States has a trade deficit, Feldstein calculates the border adjustment would bring in about $120 billion a year, or $1 trillion over a decade.


How much will the wall cost? Trump has put the price at between $8 billion (http://www.cnn.com/2016/02/09/politics/donald-trump-border-wall-cost-8-billion/) and $12 billion (https://www.washingtonpost.com/news/fact-checker/wp/2016/02/11/trumps-dubious-claim-that-his-border-wall-would-cost-8-billion/?utm_term=.89ae4ef2306a). Others have suggested it could be higher, between $15 billion and $25 billion (https://www.washingtonpost.com/news/fact-checker/wp/2016/02/11/trumps-dubious-claim-that-his-border-wall-would-cost-8-billion/?utm_term=.a23e99f34d81). Either way, the full cost would be more than covered in one or two years by the $13 billion in annual revenues we would collect from Mexico. Indeed, over several years, the border adjustment could force Mexico to pay not only for the wall, but for the costs of a lot of Trump’s other border-security measures — from expediting the deportation of criminal aliens to hiring more screeners to conduct “extreme vetting.”


And here is the really brilliant part: There is nothing Mexico could do about it. Mexico might find ways to retaliate over specific measures targeting it — such as increased fees for visas or taxing remittances. But with the border adjustment, Mexico would have no recourse to complain, because such a measure is global in nature and would affect all U.S. trading partners equally. Plus, how could Mexico object when it is one of the 160 countries around that world that has a “border adjusted” VAT of its own? .....snip~


https://www.washingtonpost.com/opini...=.bfaf4ce8810d (https://www.washingtonpost.com/opinions/yes-trump-can-make-mexico-pay-for-the-border-wall-heres-how/2017/01/17/7edf7872-dcbf-11e6-ad42-f3375f271c9c_story.html?utm_term=.bfaf4ce8810d)

[Bethere]

This all existed before him.
http://www.usatoday.com/money/perfi/taxes/2011-05-05-tax-cut-record-low_n.htm
Americans are paying the smallest share of their income for taxes since 1958, a reflection of tax cuts and a weak economy, a USA TODAY analysis finds.

[Newpublius]

http://www.usatoday.com/money/perfi/taxes/2011-05-05-tax-cut-record-low_n.htm
Americans are paying the smallest share of their income for taxes since 1958, a reflection of tax cuts and a weak economy, a USA TODAY analysis finds.

Nonsense, if a family of 4 is poor they receive medicaid and food stamps effectively a tax recipient. How do you think that balances out in the end. If the government at all levels is spending 40% of GDP how do things balance out in the end?

America is not a low tax nation, complete myth.

[Common Sense]

When I hear this claim that the tax revenues will be collected from Mexico, I can't help but laugh.

Who do you think pays the 20% tax on goods imported from Mexico? The American importer does. That importer just passes it on to the American consumer.

This isn't complex, yet you'd think a good portion of people have brain damage around here.

[Bethere]

Nonsense, if a family of 4 is poor they receive medicaid and food stamps effectively a tax recipient. How do you think that balances out in the end. If the government at all levels is spending 40% of GDP how do things balance out in the end?

America is not a low tax nation, complete myth.

I didn't make the case we are a low tax nation. Nice strawman.

Do you want my passcode so you can just post freely on my behalf?

[Bo-4]

DUDE bores me even more than Talulah ^

[Beevee]

I'm pro-NAFTA here. I hope he can't kill it. But between that and income taxes, if I have to suffer one to get the other, I'll take it.

As an aside in my leather business I couldn't ship NAFTA origination (US MADE) products to Mexico at all. Forst on leather items a 5% luxury surchsrge imposed by Mexico UNLESS you sell to a business. Then when you ship it customs males sure they workngood and hard not to get it through customs so basically NAFTA with rspect to Mexico was of absokutely no use to me. It shoyld've been a boon for business because its a big country with lots of people, like having a 51st state to sell too.....very disappointing.

As I've mentioned elsewhere, when buying cheese produced in the US, the limit to import into Canada is 2kg per person. When I mentioned at Customs that it was produced there and subject to NAFTA she said 'yes, but there is a limit'

[Newpublius]

When I hear this claim that the tax revenues will be collected from Mexico, I can't help but laugh.

Who do you think pays the 20% tax on goods imported from Mexico? The American importer does. That importer just passes it on to the American consumer.

This isn't complex, yet you'd think a good portion of people have brain damage around here.

This is false, the tax incidence is separate from who the payor is. Yes, many importers do pay the tariff, and in many circumstances the exporting party pays the tariff. That depends on the circumstance in question.
https://api.eyefi.com/3/files/2198437685/thumbnails/a4b9470f0580e043be718ddf706a817f23acce2a/s2048/image.jpg?v=4

[Newpublius]

As I've mentioned elsewhere, when buying cheese produced in the US, the limit to import into Canada is 2kg per person. When I mentioned at Customs that it was produced there and subject to NAFTA she said 'yes, but there is a limit'
Exactly the kind of trade barriers that shouldn't exist. Now, if Canada is doing this unilaterally, that is a minor deviation from NAFTA and the cheeseheads in Wisconsin can urge politicians to bring a trade dispute. I've had China just flat out block websites and products and Mexico simply not send anything to Mexico AT ALL. It just doesn't get through. (I used to manufacture leather jackets). It wasn't a question of 'limits' it was just them acting contrary to their existing trade agreements. The US violates trade agreements too, there's no excusing that either.

When you ask people to pay for the general police power of the state which protects the trade generally, including the military which also protects international trade, and then those nations' trade with your country is protected thereby and treated favorably, its chutzpah to whack somebody over the head for over half his income and to preclude him from some of the benefits of free trade generally with those nations. That's what China and Mexico have done, not Canada of course.

[Newpublius]

DUDE bores me even more than Talulah ^

OK, well then we won't talk, if the conversation doesn't stimulate you, fine. But don't engage me on this message board and then turn around and say you're bored. You know what? Go outside and grab a fucking potato and stick your dick in it you fucking piece of shit. We're done.

[Bethere]

I actually think you are more reasonable and educated than your teammates.

Jmho.


OK, well then we won't talk, if the conversation doesn't stimulate you, fine. But don't engage me on this message board and then turn around and say you're bored. You know what? Go outside and grab a $#@!ing potato and stick your dick in it you $#@!ing piece of $#@!. We're done.

[Chris]

But he's promising to LOWER taxes elsewhere. So now that you figured out that taxes levied by the government impact your bottom line, now recall that when taxes are LOWERED elsewhere.....that too will filter through to the pricing.

In aggregate, local, state, federal I am paying 56%, sorry guys but the tariff is going up on foreign trade and down on ME. I'd rather it not but I don't see why foreign trade is so sacrosanct.

If taxes are lowered elsewhere.

But isn't that the government picking winners and losers ?

[Newpublius]

If taxes are lowered elsewhere.

But isn't that the government picking winners and losers ?

They are, I don't support the tariff, but Trump represents the necessary political compromise to get the win to get the taxes lowered at all. In other words, I have to accept a tradeoff because Romney can't win (mull that one!)

[Newpublius]

I actually think you are more reasonable and educated than your teammates.

Jmho.

Fair enough, the blowhard in me is just NYC btw.

[Bethere]

Fair enough, the blowhard in me is just NYC btw.

I graduated from an elite Midwestern university populated almost exclusively by escapees from NJ and NY. I am totally used to it.

[Ethereal]

I graduated from an elite Midwestern university...

Get a refund.

[decedent]

They are at nearly historic lows.

The top marginal rate for Republican Eisenhower in the cherished good old days of the fifties was over 90%.

It's now 39.6%.

Have a great day.


And there were far less loopholes for the wealthy back then. They had to pay more of their fair share.


http://s3.amazonaws.com/content.washingtonexaminer.biz/web-producers/041415 Tax Code Complexity.jpg

[decedent]

Wrong.....and this was already discussed with the across the board tax on imports and with the border adjustment.

https://cdn.meme.am/cache/instances/folder123/250x250/72929123.jpg

[ripmeister]

But he's promising to LOWER taxes elsewhere. So now that you figured out that taxes levied by the government impact your bottom line, now recall that when taxes are LOWERED elsewhere.....that too will filter through to the pricing.

In aggregate, local, state, federal I am paying 56%, sorry guys but the tariff is going up on foreign trade and down on ME. I'd rather it not but I don't see why foreign trade is so sacrosanct.

That may be but what if we didn't have the tariff tax added into consumer prices. The actual tax cut you refer to would be even better. This has the potential to be a classic bait and switch by The Salesman. Vote for me because I'm going to build a wall and Mexico is going to pay for it. Oh wait, now that you have voted for me, actually you are going to have to pay for the wall.

[ripmeister]

Taxes of this nature are shared actually. Producers want consumers to eat it, and vice versa. In actuality they meet in the middle somewhere depending on their respective elasticities of supply and demand.
Perhaps but my expenses will go up to pay for the wall. I'm paying for the wall.

[del]

no one with half a brain ever thought mexico was going to pay for the wall.

[ripmeister]

Oh, you mean ONE rate charged was 90%. The government though still OVERALL collected far less. That means they took 90% ON THE MARGIN. Few paid that. Government spending is at a post ww2 high.

The taxes are unacceptable and what's more there's NO LIMIT. Always a little bit more.....and you turkeys are promising Sanders and you'll be taking 75% and telling me how reasonable it is compared to Eisenhower when the country was fighting a major war in Korea

There's another thing....peace. Stop fighting wars.

This debate is not about the tax structure it's about what Trump promised and what he proposes to deliver.

[ripmeister]

The other aspect of,this tariff is that it is one of the most regressive forms of taxation because it directly affects consumer prices.

[maineman]

no one with half a brain ever thought mexico was going to pay for the wall.

Trumpeteers all thought it...which proves your point. They got less than half of less than half of the popular vote all, with less than half a brain.

[resister]

Trumpeteers all thought it...which proves your point. They got less than half of less than half of the popular vote all, with less than half a brain.Link? Sounds like some exaggeration, on your part.

[FindersKeepers]

Cool, but i don't get it. My house recently appraised for 350

My self employed income for last year will be around 90

My quarterly estimated taxes are 2k per (i do have a buttload of legit write-offs)

And NO ..neither I nor Uncle Sam is taking "most of your money".

Sheesh - Trump has paid noting for the past 18 years or so .. divvy up my friend!

Something is wrong here. At 90K, your self employment tax, alone (15.3%) is going to cost you $13,770. And 90K puts you in the 25% federal tax bracket, which means another $22,500. I know you can back half the self employment out of income for figuring the federal, but that's getting beyond my tax knowledge. And, we haven't even begun to figure in your State taxes, property taxes, etc.

Now, if you're saying the 90K is gross, then it's not really the "adjusted" income from Form 1040, meaning your actual SE income would be much lower if you have all those deductions you mentioned. Are you really saying that the 90K is your gross on Schedule C? Because, by the time you take work-related deductions, your SE is going to drop substantially.

I think maybe you're using the wrong figure. I'll bet you're using the "Income from Sales and Services" figure from the top of your Schedule C.

[FindersKeepers]

no one with half a brain ever thought mexico was going to pay for the wall.

In a sense they will pay -- but we will, also.

A 20% tariff will raise the cost of goods coming from Mexico and drive some of their sellers out of business. That's a loss to Mexico in revenue.

It will also stimulate US sellers to increase production of those goods/produce, which will bring more tax revenue into US coffers.

But, I do agree that US citizens who purchase Mexican goods will also pay.

[MMC]

Link? Sounds like some exaggeration, on your part.

As usual, huh?

[MMC]

In a sense they will pay -- but we will, also.

A 20% tariff will raise the cost of goods coming from Mexico and drive some of their sellers out of business. That's a loss to Mexico in revenue.

It will also stimulate US sellers to increase production of those goods/produce, which will bring more tax revenue into US coffers.

But, I do agree that US citizens who purchase Mexican goods will also pay.

Correct FK.....only those buying Mexican goods will pay. Although, with the fruits and vegetables, you are once again Right. Production will increase with American growers.

But in the end.....Mexico will pay for that wall. They have a Vat for their country. So they will need to get use to seeing one with the US now.


Note how those with only half a brain cell doubted that Mexico will be paying for that wall.

[FindersKeepers]

Correct FK.....only those buying Mexican goods will pay. Although, with the fruits and vegetables, you are once again Right. Production will increase with American growers.

But in the end.....Mexico will pay for that wall. They have a Vat for their country. So they will need to get use to seeing one with the US now.

For sure, Mexico will pay. They'll also pay in a decrease of illegal immigrant money being earned in the US and sent back to families in Mexico.

If Mexico was smart, they'd deal now to help fund the wall, and to set up measures on their side to deter illegals coming here. Because this tariff is going to put the crunch on them.

And, I'm getting more and more away from shipped in produce, god only knows what kind of pesticides they use down there, and buying more local organic produce. We all should. Once US production steps up, prices at the market will stabilize.

Now, as far as Corona goes -- well, its fans will just have to accept the increase.

[Newpublius]

Cool, but i don't get it. My house recently appraised for 350

My self employed income for last year will be around 90

My quarterly estimated taxes are 2k per (i do have a buttload of legit write-offs)

And NO ..neither I nor Uncle Sam is taking "most of your money".

Sheesh - Trump has paid noting for the past 18 years or so .. divvy up my friend!

Your 1/4 payments are of course the equivalent of withholding. Those payments of course will reduce what you ultimately have to pay.

Everybody is situated differently. In my corcumstamces my self employment income was the LLC which was a 'disregarded entity' for purposes of federal taxes. I file Schedule C, I do NOT consider gross sales to be my gross income. I consider the profit to be my income and its that number which is subject to SE tax and fkows through to the 1040 is taxed. A 1099 contractor you get a 1099, you of course tend to think of that as what you make and you get to deduct your incidentals. I'm not sure if they take the SE from the 90 or the 90 less the incidental expenses, you tell me, you do that.

This year I am in between, the vusiness income ended march and my employment income began.

My business had a location too, so that location itself was taxed, Inpaid property tax there too and utikities has taxes on them etc. Let's say you gross 200k and make a profit of 100k (a high margin). You'd tend to calculate the taxes off the 100k and judge your rate accordingly. But if your office costs 24k per year and you're paying 12k in property taxes, how do you not count that 12k? Just because it was an expense and did deduxt your income?

Nevertherless, uoper middle class in NJ is regularly hitting 50% and regular 'top side' of the middle class is getting uo there where they are experiencing taxation <50% but still in a oosition where taxation itself, avain, at all levels, constitutes the sibgle largest expense.

In NJ 350k house is 6500-7500 in property tax and 90k is 13,770....>22% BEFORE paying anythijg else.

A mortgage without property tax is likely south of 1600, mortgage being most family's largest non-tax expense. You can see you're already there in NJ, property tax + SE > mortgage (naturally ID different(

[Chris]

In a sense they will pay -- but we will, also.

A 20% tariff will raise the cost of goods coming from Mexico and drive some of their sellers out of business. That's a loss to Mexico in revenue.

It will also stimulate US sellers to increase production of those goods/produce, which will bring more tax revenue into US coffers.

But, I do agree that US citizens who purchase Mexican goods will also pay.


Not so sure about those outcomes.

Mexican producers can shift to other markets. Like Canada will do with shale oil if we don't build a pipeline. And that 20% increase means Americans will spend less on other things they value including new US products, so there's less to fund US expansion. Finally, history shows that US companies will not expand but simply raise prices to just under the tariffed price, look at the cost of sugar in the US.

Economists from Adam Smith on have said protectionist policies such as this are a bad idea. It's a return to mercantilism.

[Chris]

Chapman writes of the standard view in economics since Adam Smith, The Folly of 'Buy American and Hire American' (http://reason.com/archives/2017/01/26/the-folly-of-buy-american-and-hire-ameri)


...Trump is never more certain than when he is completely clueless. The truth is that protection against foreign trade leads away from prosperity and strength. A country that deprives itself of foreign goods is doing to itself what an enemy might try to do in wartime—cut it off from outside commerce. It is volunteering to impoverish itself.

Countries don't "ravage" us when they make "our" products; they help us. At the risk of belaboring the obvious, the essence of trade—foreign or domestic—is that it makes both buyer and seller better off. Otherwise, they wouldn't bother.

...His belief that international commerce is bad for Americans and protection is good for us is not a theory but an ancient superstition. One of the most irrefutable insights of economics is that if a country can buy something abroad for less than the cost of making it at home, it's better off buying it. That transaction allows citizens to consume more for each dollar spent. It makes them richer.

The United States could grow all its fresh fruits and vegetables rather than buy some from Mexico—just as Mexico could grow all the corn and soybeans it needs rather than purchase from us. But the costs would be higher on either side. Open trade allows people in each country to eat more and better....

[maineman]

Link? Sounds like some exaggeration, on your part.

only slightly. Trump only got 28% of registered voters.

[MisterVeritis]

only slightly. Trump only got 28% of registered voters.
Whatever the number it was sufficient to win. Big.

[Cigar]

If someone places a tariff on my business ... guess who a pass it on to. :laugh:

[Captain Obvious]

If someone places a tariff on my business ... guess who a pass it on to. :laugh:

The welfare office?

[Cigar]

The welfare office?

If that's who paying the Bill, then that means your dumb-ass will be paying it. :laugh:

[maineman]

Whatever the number it was sufficient to win. Big.

You mean "bigly" don't you?

In fact, Trump's electoral college numbers rank 46th out of 58 elections. His actual popular vote deficit is the greatest of all time and percentage-wise, his -2.1% popular vote deficit ranks 47th out of the last 49 elections.

https://www.nytimes.com/interactive/2016/12/18/us/elections/donald-trump-electoral-college-popular-vote.html?_r=0

If that's "big" to you, I could understand why women might laugh at you when you drop your pants.

[resister]

Oh shit, the price of avacados will soar!

[maineman]

Oh shit, the price of avacados will soar!

and tomatoes, and limes, and tequila, and corona, and lots of Ford and Honda cars, and lots of LG appliances.... and lots and lots of all sorts of other stuff that is manufactured in Mexico and sold in the US...and all by 20%. Tell me again how making Americans pay 20% more for stuff is synonymous with Trump's assertions that he would make Mexico pay for the wall?

[MisterVeritis]

You mean "bigly" don't you?
I very briefly considered "bigly."

In fact, Trump's electoral college numbers rank 46th out of 58 elections. His actual popular vote deficit is the greatest of all time and percentage-wise, his -2.1% popular vote deficit ranks 47th out of the last 49 elections.
https://www.nytimes.com/interactive/2016/12/18/us/elections/donald-trump-electoral-college-popular-vote.html?_r=0 (https://www.nytimes.com/interactive/2016/12/18/us/elections/donald-trump-electoral-college-popular-vote.html?_r=0)
If that's "big" to you, I could understand why women might laugh at you when you drop your pants.
Context is always important. Trump won 30 states to Crooked's 20. Nothing else matters, does it?

[MisterVeritis]

DUDE bores me even more than Talulah ^
Bethere? Me too.

[MisterVeritis]

Trumpeteers all thought it...which proves your point. They got less than half of less than half of the popular vote all, with less than half a brain.
Whatever the truth is, we won. Fortunately you lost.

[maineman]

I very briefly considered "bigly."

Context is always important. Trump won 30 states to Crooked's 20. Nothing else matters, does it?

just don't use the word BIG when it clearly does not apply.

[MisterVeritis]

just don't use the word BIG when it clearly does not apply.
30 states versus 20 states. Bigly.

[maineman]

30 states versus 20 states. Bigly.

bfd.... he won states that have more prairie dogs than people. :rofl:

[MMC]

Oh shit, the price of avacados will soar!
Does this mean they will charge for those little packages of Hot sauce, that Hillary carries around in her purse? :laugh:

[MisterVeritis]

bfd.... he won states that have more prairie dogs than people. :rofl:
He won the contest he was competing in. Your comment reminds me that not only was Crooked, well, crooked, she was also stupid. She failed to understand the rules of the contest.

And you also fail. You have no excuse.