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Business, Economics, and Tax Policy 8: Bezos Takes Over the World

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Re: Business, Economics, and Tax Policy 8: Bezos Takes Over the World

aparch said:
So much winning on the trade war front. A 10% tariff on different Chinese goods is being added to the existing list.
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From the CNN article:

Washington (CNN Business)President Donald Trump tweeted Thursday that he will add a new tariff on $300 billion of Chinese-made products on September 1, which would effectively put a tax on all Chinese goods coming into the United States.
"Trade talks are continuing, and during the talks the U.S. will start, on September 1st, putting a small additional tariff of 10% on the remaining 300 billion dollars of products coming from China into our country," he tweeted.

The new tariffs could hit US consumers harder than the earlier rounds. It would tax goods like iPhones and other consumer electronics, sneakers and toys. Last year, Trump imposed tariffs on about $250 billion in Chinese-made goods, targeting industrial materials and components.
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This is insane. Absolutely insane.

Oh, and just remember, this is the same as a federal sales tax. This is going to disproportionately hit the poor.
 
Re: Business, Economics, and Tax Policy 8: Bezos Takes Over the World

Deutsche Gopher Fan said:
Oh no I’m sure all the shoe companies will come home for labor. Who doesn’t want to average $350 for shoes
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I've been thinking about this recently. If the rich paid their fair share and we were all paid living wages, it might work to onshore more manufacturing. If there is a downward pressure in income distribution, we could all afford to pay for stuff that isn't cheap crap made in China.

It would never happen, but I suppose I can dream.
 
dxmnkd316 said:
I've been thinking about this recently. If the rich paid their fair share and we were all paid living wages, it might work to onshore more manufacturing. If there is a downward pressure in income distribution, we could all afford to pay for stuff that isn't cheap crap made in China.

It would never happen, but I suppose I can dream.
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CEOs would need to make less than 400 times their average worker.
 
Re: Business, Economics, and Tax Policy 8: Bezos Takes Over the World

Deutsche Gopher Fan said:
Oh no I’m sure all the shoe companies will come home for labor. Who doesn’t want to average $350 for shoes
Click to expand...

New Balance was championing the Chinese tariffs because they make their shoes in the USA. I remember reading an article about it this past spring.
 
dxmnkd316 said:
I've been thinking about this recently. If the rich paid their fair share and we were all paid living wages, it might work to onshore more manufacturing. If there is a downward pressure in income distribution, we could all afford to pay for stuff that isn't cheap crap made in China.

It would never happen, but I suppose I can dream.
Click to expand...

Every trade deal we ever made needed labor protections and wage minimums for these countries workers. Bring their standard up to meet ours, rather than bring ours down to them.

Alas, never underestimate the power of greed.
 
Re: Business, Economics, and Tax Policy 8: Bezos Takes Over the World

dxmnkd316 said:
I've been thinking about this recently. If the rich paid their fair share and we were all paid living wages, it might work to onshore more manufacturing. If there is a downward pressure in income distribution, we could all afford to pay for stuff that isn't cheap crap made in China.

It would never happen, but I suppose I can dream.
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That's the thing. It's dang near impossible to do with a limited budget and/or on "Everyday use" type items. We've reached a point to where final cost trumps all.
 
Re: Business, Economics, and Tax Policy 8: Bezos Takes Over the World

St. Clown said:
New Balance was championing the Chinese tariffs because they make their shoes in the USA. I remember reading an article about it this past spring.
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They make a small selection of their shoes in the USA, not all of them...
 
Re: Business, Economics, and Tax Policy 8: Bezos Takes Over the World

RaceBoarder said:
That's the thing. It's dang near impossible to do with a limited budget and/or on "Everyday use" type items. We've reached a point to where final cost trumps all.
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Most companies are "price takers," in economics. Unless you can create an outstanding brand to distinguish your product, you take what price you're able to assess the public will pay. There are variations to this, but in the grand scheme of things, those variations are fairly minor. With that in mind, companies see the one way they can increase profit is to 1) sell more goods, and 2) decrease the input costs of those goods. Even with wages increasing for an individual, that person only needs so many salad tongs in his/her life. Therefore, a company will attempt to reduce their bottom line to the absolute lowest they can.

With the tariffs, two things happen, 1) prices of products go up, thus reducing the purchasing power of all consumers, hitting the lowest income ones the most; 2) companies start to fail as people still need to purchase X quantity of various staples, so they stop going out to eat for dinner, or don't go to the movies, etc.. This, of course, has a snowballing effect to then not only increase costs to businesses and consumers, but then reduces revenues to non-staple goods and services providers. The first people to be laid off are not the upper echelon of earners, it's the poor people. So low income earners are being hit on both sides. Meanwhile, we're told how easy it is to win a trade war.
 
Re: Business, Economics, and Tax Policy 8: Bezos Takes Over the World

RaceBoarder said:
That's the thing. It's dang near impossible to do with a limited budget and/or on "Everyday use" type items. We've reached a point to where final cost trumps all.
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Right, because our income inequality is so ****ing absurd and half this country can barely afford these everyday use items.

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Re: Business, Economics, and Tax Policy 8: Bezos Takes Over the World

I agree with both of you. As a whole, the US has reached the Point of No Return if you will.
 
Re: Business, Economics, and Tax Policy 8: Bezos Takes Over the World

This also gives me hope:
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Sure, there are educational black holes that swallow up incurious people. But Michigan, Indiana, Iowa, Tennessee, Arizona, South Carolina, and Florida are all looking for more information.
 
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