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-   -   Tariffs Surprise - Personal Experience (https://www.talkofthevillages.com/forums/villages-florida-non-villages-discussion-93/tariffs-surprise-personal-experience-356535/)

Bill14564 02-13-2025 08:35 PM

Quote:

Originally Posted by Normal (Post 2409385)
Money spent….entitlements.
……

Nice essay but SS taxes are not loans to the Govt. SS taxes are taxes that fund Govt payments according to a set of rules. When necessary, the rules can change and payments adjusted accordingly.

Normal 02-13-2025 08:46 PM

Federal Income Tax
 
Quote:

Originally Posted by Bill14564 (Post 2409388)
Nice essay but SS taxes are not loans to the Govt. SS taxes are taxes that fund Govt payments according to a set of rules. When necessary, the rules can change and payments adjusted accordingly.

Federal income tax is a tax. Social security is a different deduction unless you have a job where the state ( ie. Ohio teachers) has their own pension investment program. Unfortunately, you even pay a tax on the Social Security you receive. So we are paying taxes on our tax?

Bill14564 02-13-2025 08:52 PM

Quote:

Originally Posted by Normal (Post 2409390)
Federal income tax is a tax. Social security is a different deduction unless you have a job where the state ( ie. Ohio teachers) has their own pension investment program. Unfortunately, you even pay a tax on the Social Security you receive. So we are paying taxes on our tax?

SS is a tax.

Yes, you pay taxes on up to 85% of the retirement income provided by SS depending on how much additional income you have.

FloridaGuy66 02-13-2025 09:26 PM

Quote:

Originally Posted by defrey12 (Post 2409222)
Simple solution: BUY AMERICAN. The pain we feel now will ensure our grandchildren have a future.

That's not a viable solution. First of all, the raw materials for many things cannot be sourced all in the US and it's not cost effective to import these raw materials here and then find people to work for minimum wage to produce the item at a competitive price. Factories here won't operate at a loss just to be patriotic.

It's simply cheaper and more efficient to have many things produced offshore. Otherwise, the price of almost EVERYTHING will go up. That will really put our grandchildren in a bad position with everything costing more and wages not going up at all.

FloridaGuy66 02-13-2025 09:34 PM

Quote:

Originally Posted by GoRedSox! (Post 2409386)
The only way I can respond to this is: Look around your house. Let's start in the closets. If you are like most people, you will be hard pressed to find anything made in the USA. LL Bean even went overseas. Shirts, pants, shoes, socks, underwear, coats, sweaters....maybe some folks have some, but many, many families in this country don't have any articles of clothing made in the USA. Let's now go to appliances, microwave, dishwasher, washer and dryer, refrigerator....how many are made here in the USA? My Whirlpool appliances in my Villages house....made in China and most appliances are not made here. TV's, sound equipment...most made in China...I'm not sure if any TV's are made here anymore. Cars? 50% not made here. Our cellphones? Nope, not made here.

I think some people in the US that aren't well travelled don't understand this at all. We don't have even 5% of the population to open all of these theoretical factories to make all of this stuff. Plus 99% of this stuff is being made by people making lower wages. These are the jobs we DON'T want in the US!

MorTech 02-13-2025 10:47 PM

Figure you spent $105 on that charger delivered. It is still cheaper than buying overpriced American junk. The $15 UPS tax collection fee seems a little high but collecting taxes for the State ain't free.

Cuervo 02-14-2025 04:29 AM

There is a giant wage disparity between many countries and the United States and companies in this country will take full advantage of it. To believe these companies because of 25% tariff will come rushing back to the U.S. is a dream. Even at a 25% rate it still more profitable to farm out the work offshore. Also, these companies are not going suffer financially from any of the tariffs, because they will pass it on to the consumer.
An example is Apple, do you really believe if you put a 25% tariff on their phones, they are going to start making them here.

mikempp 02-14-2025 06:49 AM

Quote:

Originally Posted by Cuervo (Post 2409100)
When it comes to tariffs the majority of the economist stand firm that the burden will fall on the American people and will start an economic battle that all parties will suffer. Look for those who have doubts this is even the beliefs of the Wall Street Journal, who main interest is the stability of the U.S financial markets.

So your solution is ship the jobs to China so you save $15?

Bill14564 02-14-2025 07:01 AM

Quote:

Originally Posted by mikempp (Post 2409434)
So your solution is ship the jobs to China so you save $15?

For the most part, that ship has already sailed.

Tariffs on manufactured goods *might* be explained as a means to bring jobs back to the US. If we can tax the foreign-made goods to the point they are more expensive than American-made then perhaps consumers will choose to buy American. To be successful this requires there to be American-made goods to buy and it depends on the American manufacturer to not see this as an opportunity to increase their prices.

Tariffs on parts and components (integrated chips, steel, aluminum, etc) will increase the cost to manufacture items in America and therefore increase the price of American-made goods. Sure, it *might* be possible to rebuild the US steel industry but not quickly and the price of the steel produced will still be higher than the pre-tariff price (otherwise we would already be making that steel here). So again, prices to Americans will go up.

Is America willing to pay more to support American products, American jobs, and the American economy? Not voluntarily and not happily. Americans will notice the higher prices and the resulting higher inflation numbers.

Normal 02-14-2025 07:34 AM

Made in Japan
 
Tariffs did fix a problem we had in the 60s when everything seemed to be labeled, “Made in Japan”.


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