@colinl5951 You clearly do not understand. It also applies to raw materials. US companies need to export, with tariffs the US goods will not be bought. Doh 😂 😂
2 місяці тому+83
I have the conclusion that there are many people who dont mind suffering if they think they are sticking it to the other guy .
They are already suffering. They see those that are not suffering as being "unjustly rich" and are trying to bring everyone down to their level of misery. This also drove the Dubbya "New Normal" after his economic crash. Obama proved that it was entirely inflicted by the 1%.
100% Spot on. He's packing the government with rich CEO's and people with stakes in these industries. You can predict more decisions to benefit big corporations over the common working man.
The tariffs is a cash cow for the grifter. There will be a long line of industry & company executives in his ears asking for exemptions. Crony capitalism & patronage like in banana republics.
I am learning MORE about it. I just hope you don't face another "Toilet Paper Crisis". I say, "You", because I live in Canada, and want to know how this will affect ME.
I wonder why Politicians and Journalists don’t revisit the outcome of the Smoot-Hawley Tariff Act of 1930. Yes it was a long time ago, during The Great Depression, but a quick review provides insight into the repercussions of the Tariff Act and what the US economy may look forward too, if the Trump Administration proceeds with their updated tariff act. The outcome of the Smoot-Hawley Tariff Act was that global trade decreased by greater than 60% and the Great Depression was exacerbated and extended by several years.
Even if they did this unfortunately, the recipients are a large portion of the US population who couldn't care less about history or logic. It just so happens that they form what's called MAGA. God help us for the next 2 years until we take back the house and the senate. We're in for a rough ride.
Almost everything we buy is either made or has parts made or is grown in China or other countries. These tariffs will make EVERYTHING you buy more expensive. Food, clothes, home goods, electronics, tools. Its adorable listening to trumpsters claim they voted for trump "because of the cost of groceries". They literally just voted to make groceries more expensive 😅
@@halas7388 _"BUT YOU WILL STILL ASK FOR A MINIMUM WAGE INCREASE."_ $290 (pre-tax) a week to live on won't pay for much, especially when you figure in income taxes take out (leaving you $255 before medicare and unemployment insurance).
Exactly, and deporting 5 million working immigrants is also gonna send produce cost sky high. Hope the magats like paying $25 for 1 box of strawberries.
@@halas7388 You are the richest country in the world with the worst working live balance..... it's about time you copped on to the fact that you're been robbed blind.
I hope we all know that it doesn't matter who is in the 'top job' because this is a systemic problem -- greed. We have allowed many of our economic sectors, to take advantage of the American people. It's disgusting and frightening for the future of our country. My husband and I will be retiring in the next two years n another country. We are absolutely worried that SS! will no longer be funded. we'll have to rely on his pension, a 403 (b) and a very prolific Investment account with Stephanie Janis Stiefel my FA. Our national debt is bloating and expanding every month. Our government needs to get spending under control and cut the federal budget.
I know this lady you just mentioned. Stephanie Janis Stiefel is a portfolio manager and investment advisor. She gained recognition as an employee of neuberger berman; a renowned investor she is. Stephanie Janis Stiefel has demonstrated expertise in investment strategies and has been involved in managing portfolios and providing guidance to clients.
I’m planning on moving to Thailand in the next 5 years if trump’s government doesn’t do anything with the high prices of groceries and taxes What about you??
@@davemichael6994 I didn't, until I started looking at different sources of information. From what I understand, this Tariff is on Imports. Either way, I still try to buy Local. For the most part, I find that less expensive.
@@jesusacosta5176 Tariffs are meant to force trade balances and to ensure more homemade manufacturing. This video is slightly misleading. He didn't capture where the money the government realized from those tariffs went to. Those were the funds used to subsidize the farmers and there were still more funds left from the tariffs. The taxpayers didn't pay for it twice.
There are 8 billion people worldwide, and the US market is only a small fraction of China's global trade. US exports account for less than 4% of China's GDP, whereas nearly 80% of US products are made in China.
There is a reason Trump and Musk think tariffs are beautiful, because they will be profiting from increased tariffs at the expense of American consumers.
The cult was told there'd be unicorns on clouds. 😂 When the Oompa Loomoa deports 25% of the workforce and imposes tariffs on eveything they'll cone to understand how he was able to bankrupt several casinos.😂🍿
@josephsonora3787 How does that address the price increases associated with tariffs and labor shortages in farm work, neat processing, and construction? Why is Moody's giving the US a 75% chance of recession based on the Mad Fatter's policy positions?
@archangel763 but kamella and joe and Obama DID have details? But you still voted for them anyway without details right lol. Hes the only one with a plan. Any plan in fact! Im with the man with a plan
It's time to address the renewal of corporate tax policies. In the 1950s and 1960s, corporate taxes for the wealthiest businesses were as high as 60%. This era coincided with a significant economic boom, marked by widespread prosperity, strong infrastructure development, and a thriving middle class. Back then, corporations contributed their fair share, ensuring the government had the resources to invest in the country's growth. Today, however, corporate tax rates have drastically decreased, benefiting the wealthiest corporations and billionaires. This shift has widened the wealth gap and placed a heavier burden on ordinary taxpayers. Many MAGA supporters have been swayed by Republican rhetoric, failing to see that their elected officials often prioritize the interests of billionaires and large corporations over working families. It's crucial to revisit policies that ensure corporations contribute equitably to society. Fair taxation is not about punishing success but about creating a balanced system that uplifts everyone. The prosperity of past decades serves as a reminder that when corporations invest in the nation, the entire economy thrives.
@ What tax cut to the rich did Biden give that caused inflation? What tax increase did he give to the rich to lower inflation? What caused the national debt to increase by $8-trillion under Biden?
China is now the second-largest foreign holder of U.S. debt, with a claim of around $816 billion in U.S. Treasuries, almost 20 per cent of the amount held by all foreign governments. We are in debt to China who controls our economy.
So he wants to: 1) REDUCE inflation...AND increase tariffs (which are inflationary), 2) keep the US $ strong so it will maintain its reserve currency status AND rebuild US manufacturing (which requires a weak currency to be competitive) It's like I want to become the hotdog eating champion AND lose 100lb
Also let's not forget the tariffs he imposed on some canadian goods AFTER he renegociated the trade deal. Now Heinz makes Ketchup in Canada (with our tomatoes) for the canadian market.
@@OilCanHarry2U You do remember he was already President for 4 years right? and for the first 3 of those before COVID shut down the world he actually did an arguably good job. Inflation was low, unemployment was low, domestic manufacturing was up ect...... It could even be argued that he handled COVID as well as could be expected as out deaths-per-capita were no higher than any other developed country
@ inflation was low, off the back of Obama. Unemployment was low, off the back of Obama. Domestic manufacturing was destroyed by Trump.Thousands died BECAUSE of Trump.
I really appreciate the nuance about tariffs. They're not inherently good or bad, it's just a tool like any other. And like any tool, it can be great or misused.
I'm a Vietnamese farmer in Vietnam, 2 years ago we still sell our strawberries with prices of 300.000vnd/kilogram, but 1 year later our bussiness got struggling by chinese strawberries flooding our market with 1/3 of the prices. I wish our gorvement would have set some tarriffs on chinese goods back then, but it didn't happend. I had to find another job with lower income, so did many people. I believe there're people in US might be in the same situation like many of us did.
@@markcosenza3274Remember when Biden lied and said he graduated at the top of his class but when you actually look it up you find that he was really near the bottom?
Protective tariffs. import tariffs. Customs fees. Its much more complicated than what you think. As the worlds largest consumer we have many smart options for leverage.
This was a good explanation, but overlooks one major thing. Everyone keeps discussing tariffs and saying that they might increase prices, yet when they give an example, always use an example in which is does increase prices. The sole purpose of a tariff is to increase prices. There is no debate about it. In the example of the Chinese EV, there is a domestic product to promote, but the he wants to just add it to everything, even when there is no domestic product, all based on the theory that this will convince manufacturers to come back to the US, but that would only cause an even larger price increase, due to the huge increase in labor costs, unless Americans are willing to work at third-world, sweatshop rates of pay.
BRIC is a joke. The US is quite corrupt and abuses their currency heavily but they are the best house in a bad neighborhood. It's the US$, the Euro and everyone else.
There was a time when the U.S. made practically everything. If we had self-sufficient goods and services and made our own products like we used to, we wouldn't have to be bothered by tariffs.
Not really... it impacts a lot more that what you buy, depending on your situation it could have a major hit on your entire financial well being. If your employer uses a lot of imported components then the rising manufacturing costs might put them out of business and you'd loose your job or get less hours. If the Donald is stupid enough to start a trade war with the EU then it will introduce retaliatory tariffs on your exports, but they will do it with a particularly brutal twist, they will go after the economies of Red states and corporations who made large contributions to the Republicans. Depending on the financial impacts on your state's economy or your employer it could have much far reaching consequences.
@dooley-ch but it is economic correction then if imported chips cost more, and business loses clients. It seems like that niche of business isnt really that important to community.
Most American people do not understand tariffs and they have voted for Trump and will be putting all of us in a four year struggle. Thank you President Elon Musk, oh, I meant gonna be vice president Donald Trump.
This is the reason i am currently buying as many large ticket items right now. Just bought a new vehicle, replacing my older appliances and getting my large ticket items right now. All these items are going up 20% plus and interest rates are affordable. Buy these items now. Tarrifs will disappear once Trump is out.
@@rack9458 well! The Ford truck I bought is built in Kansas. Well TOTO, guess we aren't in Kansas anymore. I am Canadian and have always bought as much as I can in North America. With Tarrifs, I will now be forced to buy anywhere else except the US. Europe has a lot of good products and need to turn to China. US isn't the world. It's a big world out there.
@@rack9458 canada is filled with many products from other global locations. You need to open your eyes. We have free trade agreements with Europe and other global locations but like I said. I do prefer to support local as in North America but Trump's tarrifs are changing myself and many other Canadians the way we will be purchasing.
I am amazed to see a non-biased informational segment on MSNBC. Thank you so much for not just going the "tarries are bad and Trump will destroy the economy" route. even going so far as to remind people that most of the tariffs Trump imposed in his first term are still in place today and Biden even significantly added to them over the last 4 years.
I want to see a cost analysis if China decides to not sell other goods to U.S vs. retaliation. The former would hurt even more because it would mean we would have to manufacture it ourselves which will cost $$$ or buy it from another country which also will be more expensive.
@@inquisitvem6723 No dout China and other nations would retaliate but that might not be a terrible thing. As the segment mentioned, in Trumps first term he slapped huge tariffs on vehicle imports. As a result Toyota opened manufacturing plants in the United States to avoid the tarries. Toyota is now the 2nd largest vehicle manufacturer in the United States just behind ford generating tens of thousands of jobs and billions in taxable revenue.
@@ryant2568 just remember Japan is an ally with the U.S, so it’s not a problem with them and that isn’t major $ compared to like China. Japanese auto manufacturers have been in the states for years now and we’re still in the red overall. So in the big scheme, Japanese plants haven’t put much of a dent for our trade deficit. Also, you do know that we had to give our farmers $28bil of our tax money due to the agricultural tariff war with China. We couldn’t sell to China due to retaliation. Just remember that Trump wants to INCREASE the tariffs, not just keep current ones in place.
We certainly do not, because it impacts way more than just them and some of the damage done will never be undone. The EU is the biggest purchaser of US military hardware outside the US, if as part of it's retaliatory measures they shop in Europe instead, that market will never return and even worse it will have given wings to the European manufacturers in their ability to compete with US manufacturing.
Germany’s economy is tanking, they were the powerhouse of the EU. They stopped buying cheap gas from the Russians when the USA pressurised them to sanction Russia. Schulz has had his first meeting with Putin in two years, I think we know that Schulz is about to do business again with Putin. What’s ironic is that the Russian economy is booming, Putin found a way to bypass the sanctions and sell oil and gas to India and China. Russia is now a members of BRICS. They stopped buying USA hegemony is dying.
Seems like you are incredibly easily led. That is old news that happened long before the election and it's only a temporary measure while they while the EU enhances it's Maghreb-Europe Gas Pipeline. But here is one for ya. The EU is the biggest purchasers of US military hardware outside the US and they are working on consolidating that purchasing power and now as a result of Trump's silly games they are moving towards spend it in Europe instead. A large slice of the market lost to the US and a new set of European competitors given wing to compete against the US. And as we have seen with cars and planes, the US does not do so well in such competitions.
@@dooley-ch Yes, it is old news. It was announced Nov. 8. Three days after the election. My point was that tariff's are beneficial. Also if they are so inflationary why under the Trump administration's first term inflation was at 1.35%. No sir, I am not easily led and I am factual. You sir seem to live in a land of make believe, and it just did not end well for you.
President Biden has quadrupled tariffs on electric vehicles from China - from 25% to an eye-watering 100% - in a move designed to bolster U.S. jobs and manufacturing. "I'm determined that the future of electric vehicles be made in America by union workers. Period," Biden said on Tuesday. Former President Donald Trump first imposed the tariffs, which are taxes paid by Americans who import goods, on vehicles and a wide range of other China-made products. After a review, the Biden administration opted to keep all of the tariffs and even increase some of them - including on solar cells, batteries, computer chips, steel and aluminum.
Since 2018, Brazil has exported more to BRICS members than to the United States and the European Union (EU) combined. The BRICS, now numbering 11 countries, account for a large share of the world's natural resources, including 72% of rare earth minerals and 42% of oil. The current Brics now contribute 31.5% of world GDP, while the G7's share has fallen to 30%. The BRICS are expected to contribute more than 50% of global GDP by 2030, and the proposed enlargement will almost certainly advance this.
Would you rather only have service industry jobs that pay nothing for the rest of your life? Everythings got a trade off. Small price increase for longterm bennifets. Worth it
Just got a notice from my state retirement association that my ins. payment will increase 20% starting January 1. Gonna have to drop my dental insurance though.
All foreign companies should increase the price for maximum profit gain, don't worry, American stake holders are also eager to increase American made prices when foreign product prices coming too close.
Precisely this guy should just report and stop playing politicians. leave the running of the country to those capable. Namely The Trump crew which includes the world's smartest man
Why would it be odd? Some of the tariffs he introduced would have been introduced regardless of who was president - basically the same ones the EU introduced. And last time around Trump was not proposing to start a trade war with the EU and similar trading blocks so most of his tariffs did not have much of an impact and some were repealed.
Lowering inflation would drop it below the Fed’s 2% sweet spot. Most market sectors increased their prices after the pandemic, I get it, but they’ve kept prices inflated going on 5 years, while wages have flatlined during the same period. The housing market and automobile industry, even grocery stores, have been some of the worst culprits. The idea of buying your first home, having your first child, and getting that stereotypical minivan is no longer viable for 20- and even 30-somethings. That’s a massive chunk of the middle-class. Republican supply-side economics has never been a remedy for the average person and his tariffs will hurt American consumers.
Again, MSNBC AND CORPORATE MEDIA where was this type journalism before the election?! Instead of talking about stuff like Biden's debate and age y'all should have been warning America about $hitttt like this! You are part responsible for the $hit show that's about to happen to Americans!
Protection tariffs never have been a good idea. Usually they cause the domestic industry to neglect staying competitive with it's international peers. This mechanism heavily contributed to the decline of the US steel industry and now you guys want to see if the same works with your other industries as well?
tariffs are basically taxes that the u,s consumers YOU have to pay extra, China is trying to make a better cheaper deal but the u,s amurica doesn't want that, they're too greedy.
NOW you do this story?!?! Where was this (the description of what a tariff is and (most importantly) who pays it) back when it mattered to the election?
Didnt have high prices 50 years ago when we made it here, we can do it again. Even if we gotta suffer higher prices for a while its worth it. The alternative is work at mcdonalds forever
Yes retrumplicans, YOU will be paying for these tariffs. Congratulations.
You wanted trump he is going to add minimum of 20 % on every thing we all use 👤
😂. Yes they will.
No....be buying American products
@@tonisumblin2719😂stooge
@colinl5951 You clearly do not understand. It also applies to raw materials. US companies need to export, with tariffs the US goods will not be bought. Doh 😂 😂
I have the conclusion that there are many people who dont mind suffering if they think they are sticking it to the other guy .
They are already suffering. They see those that are not suffering as being "unjustly rich" and are trying to bring everyone down to their level of misery. This also drove the Dubbya "New Normal" after his economic crash. Obama proved that it was entirely inflicted by the 1%.
yea but..🤦🏻♀️
That's all republicans.
I agree.
Im sure that was you a few weeks ago.. or 4 years ago
60% tariff Chinese cars? Guess who whispered this in Donald? Tesla wants to keep its stock value.
100% Spot on. He's packing the government with rich CEO's and people with stakes in these industries. You can predict more decisions to benefit big corporations over the common working man.
The tariffs is a cash cow for the grifter. There will be a long line of industry & company executives in his ears asking for exemptions. Crony capitalism & patronage like in banana republics.
Guess which country will stop providing neccesary minerals to Tesla
@@Pnoydoc8 Bingo
There are no Chinese cars in US right now.
I am stocking up on my favorite olive oil, because I do understand tariffs!
I'm doing the same with baby oil for the next P Diddy party. I hear Kamala & the Obama's will be there!
I am learning MORE about it. I just hope you don't face another "Toilet Paper Crisis". I say, "You", because I live in Canada, and want to know how this will affect ME.
Haven forbid you might have to buy an inferior. olive oil.
@@michaelhapgood782especially the American made stuff. Gross. They put it in plastic bottles.
@@Down_the_Wind we are facing a drought the oil I buy is a blend of California and Argentina in plastic bottles
I wonder why Politicians and Journalists don’t revisit the outcome of the Smoot-Hawley Tariff Act of 1930. Yes it was a long time ago, during The Great Depression, but a quick review provides insight into the repercussions of the Tariff Act and what the US economy may look forward too, if the Trump Administration proceeds with their updated tariff act. The outcome of the Smoot-Hawley Tariff Act was that global trade decreased by greater than 60% and the Great Depression was exacerbated and extended by several years.
Even if they did this unfortunately, the recipients are a large portion of the US population who couldn't care less about history or logic. It just so happens that they form what's called MAGA. God help us for the next 2 years until we take back the house and the senate. We're in for a rough ride.
Those who don't know history are doomed to repeat it
This is music to MAGA ears. They want to destroy the economy and this is exactly what they'll get.
@@Xamarin491 Remember though, he's the stable genius, let him work his magic!🤣🤣
@@stephenrasmussen8160 “person, woman, man, camera, TV”
Almost everything we buy is either made or has parts made or is grown in China or other countries. These tariffs will make EVERYTHING you buy more expensive. Food, clothes, home goods, electronics, tools. Its adorable listening to trumpsters claim they voted for trump "because of the cost of groceries". They literally just voted to make groceries more expensive 😅
I can't wait to pay more. I'll have to ask Maga supporters " are you better off 2 years ago?
BUT YOU WILL STILL ASK FOR A MINIMUM WAGE INCREASE.
@@halas7388 _"BUT YOU WILL STILL ASK FOR A MINIMUM WAGE INCREASE."_
$290 (pre-tax) a week to live on won't pay for much, especially when you figure in income taxes take out (leaving you $255 before medicare and unemployment insurance).
Exactly, and deporting 5 million working immigrants is also gonna send produce cost sky high. Hope the magats like paying $25 for 1 box of strawberries.
@@halas7388 You are the richest country in the world with the worst working live balance..... it's about time you copped on to the fact that you're been robbed blind.
I hope we all know that it doesn't matter who is in the 'top job' because this is a systemic problem -- greed. We have allowed many of our economic sectors, to take advantage of the American people. It's disgusting and frightening for the future of our country. My husband and I will be retiring in the next two years n another country. We are absolutely worried that SS! will no longer be funded. we'll have to rely on his pension, a 403 (b) and a very prolific Investment account with Stephanie Janis Stiefel my FA. Our national debt is bloating and expanding every month. Our government needs to get spending under control and cut the federal budget.
I know this lady you just mentioned. Stephanie Janis Stiefel is a portfolio manager and investment advisor. She gained recognition as an employee of neuberger berman; a renowned investor she is. Stephanie Janis Stiefel has demonstrated expertise in investment strategies and has been involved in managing portfolios and providing guidance to clients.
I’m planning on moving to Thailand in the next 5 years if trump’s government doesn’t do anything with the high prices of groceries and taxes
What about you??
Been debt free for two years thanks to Stephanie Janis Stiefel. So sad to see my friends in their 40s with car loans, mortgages and credit card debt.
Please stop gentrifying countries
How can i reach Stephanie if you don't mind me asking?
Heard she’s an IA.
The former president was the king of bankruptcy. This is what th U S economy has to look forward to.
@@americanpatriot-r8p5w You mean the guy that's worth $6 Billion dollars and employs thousands of people that love him?😂😂😂
Kamala Harris can't even manage her checkbook & you think she was going to fix the economic problems she created?
5 days on UA-cam? How's the weather in Beijing?😂😂
I hope not! Either way, I hope you will be alright.
Yup, Trump is a failed businessman with SIX business bankruptcies, including a casino! 😂
DJT does not understand tarris
He doesn't understand anything 🤣😆
HE DOESN'T UNDERSTAND ANYTHING REALLY 😂😅😂
To be fair, I don't understand "tarris"either
@@davemichael6994 I didn't, until I started looking at different sources of information. From what I understand, this Tariff is on Imports. Either way, I still try to buy Local. For the most part, I find that less expensive.
@@jesusacosta5176 Tariffs are meant to force trade balances and to ensure more homemade manufacturing.
This video is slightly misleading. He didn't capture where the money the government realized from those tariffs went to. Those were the funds used to subsidize the farmers and there were still more funds left from the tariffs. The taxpayers didn't pay for it twice.
All the other countries will get affordable Chinese electric cars. We get overpriced crap.
Exactly……we’ve become the world’s financial slaves!
American will get much pride of a American giant auto brand called tesla 😊
I’ll never buy one because I can’t stand Elon Musk and it’s a non-union company.
Brought to you by republican pro business policy since 1876..
The irony of thinking that the cheap chinese vehicles are better than American 😂.
Sadly the people who need to learn the lessons you are teaching will not be watching a program like this.
I am shocked at how many of my customers think the export country pays the tarriffs.
People just don't want to use their heads. Just want to be led.
WE know whos leading you huh
Trump keeps lying about tariffs and his supporters keep believing him. So sad.
In2022( most recent data)$36.4 billion in agricultural products from the U.S, China says if Tariffs are introduced say goodbye to those sales
You realize we already have tariffs on China, right?
There are 8 billion people worldwide, and the US market is only a small fraction of China's global trade. US exports account for less than 4% of China's GDP, whereas nearly 80% of US products are made in China.
@cool_things_collection You are wrong. We are China's number one export destination
read what the comment said. You are not the only market@@rack9458
Smoot and Hawley are about to return to work their magic.
US export dropped 80% during the 1930s which resulted in massive unemployment, high inflation and human suffering! 😱🤬😡🥴😤😵💫👎
So does all the stuff in Trumps store go up by 60%
It's a 100% guarantee there will be tariff exemptions for gold sneakers and overpriced Bibles.
And then …. Other countries with reject America goods if she doesn’t abide by the Paris climate accord. In the long run America will lose dramatically
There is a reason Trump and Musk think tariffs are beautiful, because they will be profiting from increased tariffs at the expense of American consumers.
The cult was told there'd be unicorns on clouds. 😂 When the Oompa Loomoa deports 25% of the workforce and imposes tariffs on eveything they'll cone to understand how he was able to bankrupt several casinos.😂🍿
@josephsonora3787
How does that address the price increases associated with tariffs and labor shortages in farm work, neat processing, and construction? Why is Moody's giving the US a 75% chance of recession based on the Mad Fatter's policy positions?
This will be when ideology meets reality , i'm from the UK we suffered "brexit" take it from me REALITY wins every time 💙 from the UK
Brexit was much amplified by russian cyberpower and english media. Old people didnt understand trade with Europe and standards on things.
WE WILL BE WITHOUT SOCIAL SECURITY MEDICARE AND MEDICAID WHEN TRUMP GETS DONE!
But Elon will get billions.
Donald Trump lacks detail, forget about his policies.
America, what have you done to your country.
@archangel763 but kamella and joe and Obama DID have details? But you still voted for them anyway without details right lol. Hes the only one with a plan. Any plan in fact! Im with the man with a plan
An anti electric car petrolhead teaming up with the boss of Tesla...
amazing what you can buy when you are rich, musk bought himself a president, Harland Crowe bought himself a supreme court justice.
And where does Trumps, “ Drill, baby, drill” fit into this
Like everything from those weirdos, it doesn't make any sense. 😂😂😂😂😂
A tariff is a poor man’s tax .
Trump would not know what a traiff was, even if it bit him on the finger
I wouldn't know what a "t r a i f f" was either, would you?
@@philstanton231 I think he understands how it would benefit him and doesnt care if it brings money problems to us.
It's time to address the renewal of corporate tax policies. In the 1950s and 1960s, corporate taxes for the wealthiest businesses were as high as 60%. This era coincided with a significant economic boom, marked by widespread prosperity, strong infrastructure development, and a thriving middle class. Back then, corporations contributed their fair share, ensuring the government had the resources to invest in the country's growth.
Today, however, corporate tax rates have drastically decreased, benefiting the wealthiest corporations and billionaires. This shift has widened the wealth gap and placed a heavier burden on ordinary taxpayers. Many MAGA supporters have been swayed by Republican rhetoric, failing to see that their elected officials often prioritize the interests of billionaires and large corporations over working families.
It's crucial to revisit policies that ensure corporations contribute equitably to society. Fair taxation is not about punishing success but about creating a balanced system that uplifts everyone. The prosperity of past decades serves as a reminder that when corporations invest in the nation, the entire economy thrives.
Go ahead. Raise corporate tax to 60%. You will find every corporation leaving the USA and then the government will recieve nothing.
Corporations need these tax cuts. So do well to do people. It is the natural order of the land.
Tax cuts to the rich will cause rising debt and inflation follows
@ What tax cut to the rich did Biden give that caused inflation? What tax increase did he give to the rich to lower inflation? What caused the national debt to increase by $8-trillion under Biden?
Good luck with that. Trump has said he believes that the rich should not have to pay any tax at all! None!
China is now the second-largest foreign holder of U.S. debt, with a claim of around $816 billion in U.S. Treasuries,
almost 20 per cent of the amount held by all foreign governments. We are in debt to China who controls our economy.
Blame Nixon for taking Kissinger instead of a real economist when he pried open China.
So he wants to:
1) REDUCE inflation...AND increase tariffs (which are inflationary),
2) keep the US $ strong so it will maintain its reserve currency status AND rebuild US manufacturing (which requires a weak currency to be competitive)
It's like I want to become the hotdog eating champion AND lose 100lb
These days, nobody wanting to know the truth. People just want to hear what they want to hear, even it is from a proven liar.
Imagine paying 10 $ for a one dollar product 😅
Also let's not forget the tariffs he imposed on some canadian goods AFTER he renegociated the trade deal. Now Heinz makes Ketchup in Canada (with our tomatoes) for the canadian market.
With the new tariffs going into effect the car companies may as well just go out of business.
I gotta put in my order with Temu soon. I think I may not be able to afford it next year..
I freaking love Temu lol
If we want to reduce trade deficits, the US must reduce budget deficits and increase savings.All the excessive demand will dry up.
In with that typical insight of Trump's, inflation causes sales to go up. (sarcasm flag for those that need it pointed out.)
The end of the US.
get a grip.
@@ryant2568 Trump is the lit match
that will turn the USA into a dumpster fire.
You wanted this.
@@OilCanHarry2U Okay Chinese bot.
@@OilCanHarry2U You do remember he was already President for 4 years right?
and for the first 3 of those before COVID shut down the world he actually did an arguably good job. Inflation was low, unemployment was low, domestic manufacturing was up ect......
It could even be argued that he handled COVID as well as could be expected as out deaths-per-capita were no higher than any other developed country
@ inflation was low, off the back of Obama. Unemployment was low, off the back of Obama. Domestic manufacturing was destroyed by Trump.Thousands died BECAUSE of Trump.
Skipping Xmas shopping this year to buy stuff I will need before they get expensive. Once the tariffs start I will be living like a pauper.
Trump is clueless on the ramifications of tariffs incoming or outgoing.
I really appreciate the nuance about tariffs. They're not inherently good or bad, it's just a tool like any other. And like any tool, it can be great or misused.
What ever happens, in the next couple of months, I hope you will be OK. Now is the time to start & keep checking your budget.
"It was never about national security, but insecurity"
- Amurica
I'm a Vietnamese farmer in Vietnam, 2 years ago we still sell our strawberries with prices of 300.000vnd/kilogram, but 1 year later our bussiness got struggling by chinese strawberries flooding our market with 1/3 of the prices. I wish our gorvement would have set some tarriffs on chinese goods back then, but it didn't happend. I had to find another job with lower income, so did many people. I believe there're people in US might be in the same situation like many of us did.
Trump’s college professors at Wharton said he was one of the worst students they ever had. I would not trust his advice on education.
5 days on UA-cam? Tell us more Beijing propagandist!😂😂
@@markcosenza3274Remember when Biden lied and said he graduated at the top of his class but when you actually look it up you find that he was really near the bottom?
@@swimminginthoughts Biden invented lying. No joke!
Actually they said the opposite. But whatever. Who's Your Daddy Now?
Thank you for the video
Protective tariffs. import tariffs. Customs fees. Its much more complicated than what you think. As the worlds largest consumer we have many smart options for leverage.
Did they not understand what a tariff is ?
This should have come out SIX WEEKS AGO. Not six days..... People are just now learning ALL of this.
This was a good explanation, but overlooks one major thing. Everyone keeps discussing tariffs and saying that they might increase prices, yet when they give an example, always use an example in which is does increase prices. The sole purpose of a tariff is to increase prices. There is no debate about it. In the example of the Chinese EV, there is a domestic product to promote, but the he wants to just add it to everything, even when there is no domestic product, all based on the theory that this will convince manufacturers to come back to the US, but that would only cause an even larger price increase, due to the huge increase in labor costs, unless Americans are willing to work at third-world, sweatshop rates of pay.
How come we’re not hearing more about BRIC and its implications for America. them any further.
BRIC is a joke. The US is quite corrupt and abuses their currency heavily but they are the best house in a bad neighborhood. It's the US$, the Euro and everyone else.
It's pretty sad that the news has to come on and tell people how tariffs work that's pathetic.
Why weren’t you guys reporting on this before the election? 😐🙄
You are good presenter dude, love hearing you talk
Do not bet against China!!!
There was a time when the U.S. made practically everything. If we had self-sufficient goods and services and made our own products like we used to, we wouldn't have to be bothered by tariffs.
Tarrifs are like March 2020....you start to prioritize whats most important in life and dont buy things you dont need.
Yes. My technique is comparing Want vs Need. For an example, do I want an Iced Coffee, as opposed to do I NEED it?
Not really... it impacts a lot more that what you buy, depending on your situation it could have a major hit on your entire financial well being. If your employer uses a lot of imported components then the rising manufacturing costs might put them out of business and you'd loose your job or get less hours. If the Donald is stupid enough to start a trade war with the EU then it will introduce retaliatory tariffs on your exports, but they will do it with a particularly brutal twist, they will go after the economies of Red states and corporations who made large contributions to the Republicans. Depending on the financial impacts on your state's economy or your employer it could have much far reaching consequences.
@dooley-ch but it is economic correction then if imported chips cost more, and business loses clients. It seems like that niche of business isnt really that important to community.
When salary is the same and someone put in tariffs. The price on all you need goes up. You buy less and inflation goes down but can become deflation.
Most American people do not understand tariffs and they have voted for Trump and will be putting all of us in a four year struggle. Thank you President Elon Musk, oh, I meant gonna be vice president Donald Trump.
This is the reason i am currently buying as many large ticket items right now. Just bought a new vehicle, replacing my older appliances and getting my large ticket items right now. All these items are going up 20% plus and interest rates are affordable. Buy these items now. Tarrifs will disappear once Trump is out.
Maybe you should buy American made products. You would avoid tariffs, support jobs and taxes in your own Country.
@@rack9458 well! The Ford truck I bought is built in Kansas. Well TOTO, guess we aren't in Kansas anymore. I am Canadian and have always bought as much as I can in North America. With Tarrifs, I will now be forced to buy anywhere else except the US. Europe has a lot of good products and need to turn to China. US isn't the world. It's a big world out there.
@miked1102 Good luck on shipping cost
@@rack9458 canada is filled with many products from other global locations. You need to open your eyes. We have free trade agreements with Europe and other global locations but like I said. I do prefer to support local as in North America but Trump's tarrifs are changing myself and many other Canadians the way we will be purchasing.
I am amazed to see a non-biased informational segment on MSNBC.
Thank you so much for not just going the "tarries are bad and Trump will destroy the economy" route.
even going so far as to remind people that most of the tariffs Trump imposed in his first term are still in place today and Biden even significantly added to them over the last 4 years.
I want to see a cost analysis if China decides to not sell other goods to U.S vs. retaliation. The former would hurt even more because it would mean we would have to manufacture it ourselves which will cost $$$ or buy it from another country which also will be more expensive.
@@inquisitvem6723 No dout China and other nations would retaliate but that might not be a terrible thing.
As the segment mentioned, in Trumps first term he slapped huge tariffs on vehicle imports. As a result Toyota opened manufacturing plants in the United States to avoid the tarries.
Toyota is now the 2nd largest vehicle manufacturer in the United States just behind ford generating tens of thousands of jobs and billions in taxable revenue.
@@ryant2568 just remember Japan is an ally with the U.S, so it’s not a problem with them and that isn’t major $ compared to like China. Japanese auto manufacturers have been in the states for years now and we’re still in the red overall. So in the big scheme, Japanese plants haven’t put much of a dent for our trade deficit. Also, you do know that we had to give our farmers $28bil of our tax money due to the agricultural tariff war with China. We couldn’t sell to China due to retaliation. Just remember that Trump wants to INCREASE the tariffs, not just keep current ones in place.
@@ryant2568 Don’t forget GM and Ford have been making terrible cars for decades. We don’t need to protect them anymore.
We need Trump to do his tariffs so americans can understand how bad Trump tariffs are to them.
We certainly do not, because it impacts way more than just them and some of the damage done will never be undone. The EU is the biggest purchaser of US military hardware outside the US, if as part of it's retaliatory measures they shop in Europe instead, that market will never return and even worse it will have given wings to the European manufacturers in their ability to compete with US manufacturing.
@dooley-ch I agree, but this country needs to learn. It's the only way we learn by losing.
Crazy policies that won't work for families.
Then why Biden put 100% tariff on Chinese EVs? I thought climate change is critical and urgent
It's only okay when the left does it
Because he listened to Donald Trump and other voices of economical reason.
Because Biden was giving US EV manufacturers a chance without getting flooded with cheap Chinese EV's.
Because Biden got that idea from Trump. Biden has never had an original thought.
@@mowcowbell what’s wrong with cheap EV?
smart pant. The tarrif itself is an income of government and can be used to subsidize US consumers and pay off debt.
How about the tariffs on parts or raw materials used to make US product?
360M USD in an economy the size of the US is pocket change.
The USA is afraid of competition, simple. And the consumer is forced to pay crazy prices for NA made vehicles.
A twrriff is a tax period.
You will just psy more for imported goods.
Seems they work pretty well. The European Union has said they will no longer by Russian natural gas, but switch back to US LNG, to avoid tariff's.
Germany’s economy is tanking, they were the powerhouse of the EU. They stopped buying cheap gas from the Russians when the USA pressurised them to sanction Russia. Schulz has had his first meeting with Putin in two years, I think we know that Schulz is about to do business again with Putin. What’s ironic is that the Russian economy is booming, Putin found a way to bypass the sanctions and sell oil and gas to India and China. Russia is now a members of BRICS. They stopped buying USA hegemony is dying.
Seems like you are incredibly easily led. That is old news that happened long before the election and it's only a temporary measure while they while the EU enhances it's Maghreb-Europe Gas Pipeline.
But here is one for ya. The EU is the biggest purchasers of US military hardware outside the US and they are working on consolidating that purchasing power and now as a result of Trump's silly games they are moving towards spend it in Europe instead. A large slice of the market lost to the US and a new set of European competitors given wing to compete against the US. And as we have seen with cars and planes, the US does not do so well in such competitions.
@@dooley-ch Yes, it is old news. It was announced Nov. 8. Three days after the election. My point was that tariff's are beneficial. Also if they are so inflationary why under the Trump administration's first term inflation was at 1.35%. No sir, I am not easily led and I am factual. You sir seem to live in a land of make believe, and it just did not end well for you.
Bring the 1950s back. American pride....American made
Did you guys tell the people tariffs were a disaster before Nov 5?
Of course not. They won't tell you that Biden has had tariffs on China his entire term.
President Biden has quadrupled tariffs on electric vehicles from China - from 25% to an eye-watering 100% - in a move designed to bolster U.S. jobs and manufacturing.
"I'm determined that the future of electric vehicles be made in America by union workers. Period," Biden said on Tuesday.
Former President Donald Trump first imposed the tariffs, which are taxes paid by Americans who import goods, on vehicles and a wide range of other China-made products. After a review, the Biden administration opted to keep all of the tariffs and even increase some of them - including on solar cells, batteries, computer chips, steel and aluminum.
Since 2018, Brazil has exported more to BRICS members than to the United States and the European Union (EU) combined.
The BRICS, now numbering 11 countries, account for a large share of the world's natural resources, including 72% of rare earth minerals and 42% of oil. The current Brics now contribute 31.5% of world GDP, while the G7's share has fallen to 30%. The BRICS are expected to contribute more than 50% of global GDP by 2030, and the proposed enlargement will almost certainly advance this.
Now you will have the 10 dollars store....
The economy is great, but apparently not for everyone.
putting a tarrif on Chinese steel collecting the money and giving it to farmers, is not paying twice? What was US steel manufacturers gain?
I do understand tariffs, does Trumpy?
You're about a month late with this video.
Would you rather only have service industry jobs that pay nothing for the rest of your life? Everythings got a trade off. Small price increase for longterm bennifets. Worth it
wow what a great video to post AFTER the election???
This will not change anything towards China, but it will just make the common, middle classic, amurican have to pay extra, and the poor will struggle.
Just got a notice from my state retirement association that my ins. payment will increase 20% starting January 1. Gonna have to drop my dental insurance though.
The economy will be fixed by us poors. Socialism for the rich and rugged individualism for the poor
Privatize the profit. Socialize the losses.
You nail it!!!
Truth ? Truth ??
Huh, as if people care 😏
All foreign companies should increase the price for maximum profit gain, don't worry, American stake holders are also eager to increase American made prices when foreign product prices coming too close.
Then it is odd that Biden decided to keep Trumps tariff in effect
Precisely this guy should just report and stop playing politicians. leave the running of the country to those capable. Namely The Trump crew which includes the world's smartest man
Mainstream media is running constant fear pieces on tariffs. Trump must be on the right track.
Biden and Trump are both dufus
Why would it be odd? Some of the tariffs he introduced would have been introduced regardless of who was president - basically the same ones the EU introduced. And last time around Trump was not proposing to start a trade war with the EU and similar trading blocks so most of his tariffs did not have much of an impact and some were repealed.
So explain to me when Trump has crossed the line?
They voted for this 😂. The economy was going so good that they lost their minds
Lowering inflation would drop it below the Fed’s 2% sweet spot. Most market sectors increased their prices after the pandemic, I get it, but they’ve kept prices inflated going on 5 years, while wages have flatlined during the same period.
The housing market and automobile industry, even grocery stores, have been some of the worst culprits. The idea of buying your first home, having your first child, and getting that stereotypical minivan is no longer viable for 20- and even 30-somethings. That’s a massive chunk of the middle-class. Republican supply-side economics has never been a remedy for the average person and his tariffs will hurt American consumers.
Does anyone else get that shivering up your spine cause you know it's coming. Kinda feels like on purpose destruction.
How to speed run “Opfersonntag“ or “sacrifice Sundays”
Again, MSNBC AND CORPORATE MEDIA where was this type journalism before the election?! Instead of talking about stuff like Biden's debate and age y'all should have been warning America about $hitttt like this! You are part responsible for the $hit show that's about to happen to Americans!
This was talked about. The problem is that American don't research and take what candidates at face value.
Don't understand why the exporting countries can't have the tariffs put directly on them instead of the importers.
Protection tariffs never have been a good idea. Usually they cause the domestic industry to neglect staying competitive with it's international peers. This mechanism heavily contributed to the decline of the US steel industry and now you guys want to see if the same works with your other industries as well?
WHAT DOES TRUMP KNOW SINCE AMERICA 🇺🇸 CAN'T FILE FOR 🏦 BANKRUPTCY 6 TIMES LIKE HE HAS 😅😂
Keep Drinking MSDNC Kool-aid Stay Miserable and Misinformed 😂
Imagine if you weren't just a drunk loser and actually OWNED businesses?
Nothing wrong with the masses paying for this. I mean nothing is free, not even change
So you want to pay more for products? You want to pay more in your taxes?
American is richer with so many layoff though, thats sad
tariffs are basically taxes that the u,s consumers YOU have to pay extra, China is trying to make a better cheaper deal but the u,s amurica doesn't want that, they're too greedy.
Tariffs are to be paid by U.S. consumers so to drive up the inflation and leads to stagflation as a result.
So if you knew this 3 months ago why was this not posted three months ago???
NOW you do this story?!?! Where was this (the description of what a tariff is and (most importantly) who pays it) back when it mattered to the election?
Didnt have high prices 50 years ago when we made it here, we can do it again. Even if we gotta suffer higher prices for a while its worth it. The alternative is work at mcdonalds forever
and why was this not hammered home leading up to the election
It was. The majority of the population chose wilfull ignorance.
This wouldn't be an issue if we didn't send all our manufacturing jobs to China and Mexico.