Changing the subject, to taxes

Since a tariff is really paid by the purchaser, the US citizen, this is the biggest tax increase in decades:

https://www.msn.com/en-us/money/news/treasury-reports-60-spike-in-tariff-revenue-as-trump-policies-take-effect/vi-AA1GnnWJ?ocid=socialshare

Top | New | Old

Heartlander · 80-89, M

If you think Tariffs are really paid by consumers, who do you think really pays corporate income taxes?

The purchaser !!!

Over the past 5 or 6 months I've read 1,000+ postings here and elsewhere proclaiming that consumers will be the ones paying the tariffs.

But until this moment, I haven't seen a single post here or elsewhere reminding everyone that it's the consumers who really pay corporate and business income taxes. Taxes are a business expense, just like salary, insurance, etc.. The higher the taxes, the higher the business has to charge for what it sells.

samueltyler2 · 80-89, M

@Heartlander and what is your point?

Heartlander · 80-89, M

@samueltyler2

The point is pretty obvious.

Corporate taxes INCREASE the prices we have to pay for stuff and Democrats yell for HIGHER corporate taxes.

Those same Democrats yell at Trump for raising tariff rates, complaining that they will increase the prices we pay.

SO..... why aren't Democrats yelling for lower corporate taxes??

Heartlander · 80-89, M

Tariffs are paid on arrival at a port of entry for their value at that point, which would be the wholesale cost, a fraction of the retail price. Retail prices are based on what a buyer is willing to pay and seller is willing to accept. An unwilling buyer to pay will go and buy elsewhere. Retailers generally have multiple places to buy. For a hint, go search Amazon. just last week I researched garden umbrellas to protect some plants getting too much sun. I found pages of tiny umbrella providers. I had a choice of which to buy from. I cannot imagine some simply increasing the price to cover the cost of a tariff. They would do as before, charge what they thought what the market would bare, just as before.

iamthe99 · M

@Heartlander You're correct, and all it will do is encourage Americans to buy imported goods because they're cheaper.

So all Trump's tariffs do is make it even harder for American companies to make a profit.

samueltyler2 · 80-89, M

@Heartlander they already have increased prices even on things not yet subject to tariffs. Go do your homework. At Costco even golf balls cost $3 more now than in March!

DeWayfarer · 61-69, M

America corporate profits are so huge that no tariff could possibly equate to the added price.

If you don't make 300% you're not considered profitable. This is why the Chinese tariff was set initially at 145%

This comment is hidden. Show Comment

iamthe99 · M

@Achelois good lord, I actually have to agree with you for once 😂

Achelois · F

@iamthe99

Haha for once eh! 😂

sunsporter1649 · 70-79, M

So buy American-made products and avoid the tax increase

beermeplease · M

@sunsporter1649 will a pair of socks made in america cost the same as a pair of socks made in china?

helenS · 36-40, F

@beermeplease They may perhaps last longer?

samueltyler2 · 80-89, M

@sunsporter1649 have you looked at labels recently? There is very little truly totally made in the USA.

GerOttman · 61-69, M

only if you buy it, which you don't have to do.

whowasthatmaskedman · 70-79, M

@GerOttman And thats the secret. The rich spend a lower % of their income on consumption of goods and services than the poor do. So a consumption tax favours the rich.😷

whowasthatmaskedman · 70-79, M

And most of this new tax is being paid by.......?😷

Add a comment...