Trump Wants 20% Import Tax to Pay for Wall With Mexico

Hot topic starting now that Trump announced a "plan" to tax imports from countries the U.S. has a deficit with.

The deficits in play are trade deficits.

The plan is to tax 20% on imported goods (probably selectively).

This sounds like a way to discourage imports and create new American innovations via free market "price adjustments".

Let's see how many ways this can be interpreted by people for/against.

They're using the "Wall" as a backdrop issue.

Well ?

Trump Wants 20% Import Tax to Pay for Wall With Mexico

US President Donald Trump has decided to impose a 20 percent tax on all imports from Mexico in order to pay for the border wall, White House Press Secretary Sean Spicer told reporters on Thursday.

“When you look at the plan that’s taking shape now, using comprehensive tax reform as a means to tax imports from countries that we have a trade deficit from, like Mexico. If you tax that $50 billion at 20 percent of imports … by doing it that we can do $10 billion a year and easily pay for the wall just through that mechanism alone,” Spicer said.

He should bump it to 25 and provide legal support for those immigrants who'll renounce Mexico citizenship and pay taxes here as proud American citizens. Felony free of course.

a reply to: xuenchen

The cost would only be passed on to the consumer. No government would actually be paying for it.

The way I see it, is if companies can't make money by importing products into the U.S. Then they will probably open up shop in the U.S., which brings jobs. Think about it we account for 25%+ of the entire worlds consumer market. Someone will fill that gap.

originally posted by: Natas0114
He should bump it to 25 and provide legal support for those immigrants who'll renounce Mexico citizenship and pay taxes here as proud American citizens. Felony free of course.

Remittance payments should be illegal by American citizens naturally..

a reply to: xuenchen

Do you know how much oil we import from Mexico. That 20% will be passed along in retail sales at the pump.

www.businessinsider.com...

originally posted by: reldra
a reply to: xuenchen

The cost would only be passed on to the consumer. No government would actually be paying for it.

I bet competition will force "going out of business" sales nationwide.

Consumer awareness will accelerate and crappy items will be exposed.

originally posted by: reldra
a reply to: xuenchen

The cost would only be passed on to the consumer. No government would actually be paying for it.

like we're not already paying for it with garbage products and engineered solvency?
Washing machines and refrigerators and automobiles used to last 20 years, now, 5....
Seriously?

originally posted by: olaru12
a reply to: xuenchen

Do you know how much oil we import from Mexico. That 20% will be passed along in retail sales at the pump.

www.businessinsider.com...

"" The US will still need oil from Mexico and Venezuela during Trump's presidency ""

We will ?

Maybe petroleum products get a waiver since prices are based on worldwide bid/ask prices.

So your $100 grocery bill just went up to $120.

Thanks Trump. (Is it too early for that yet?)

a reply to: Natas0114

Bingo! I'll pay 20 percent more for a product that is going to last me 75 percent longer any day.

originally posted by: FauxMulder
a reply to: Natas0114

Bingo! I'll pay 20 percent more for a product that is going to last me 75 percent longer any day.

Planned obsolescence isn't going away for 20%. It's never going away because it generates profits here and abroad.

Capitalism....Inflation under Trump will skyrocket and your American dollars will be worth less....much less.

www.wsj.com...

I don't care because I know how to invest for the coming Inflationary spiral. It's gonna be rough for the American working man. Trump will piss on your leg and tell you it's raining....his devotees will believe anything he says. lol

originally posted by: FauxMulder
a reply to: Natas0114

Bingo! I'll pay 20 percent more for a product that is going to last me 75 percent longer any day.

Your going to pay 20% more for the same quality product

a reply to: underwerks

Buy products that aren't made in Mexico. Problem solved.

originally posted by: Konduit
a reply to: underwerks

Buy products that aren't made in Mexico. Problem solved.

That is a thought. There will be less imports if no one is buying them, less import tax taken in and then no wall. Thank you!

originally posted by: Middleoftheroad
The way I see it, is if companies can't make money by importing products into the U.S. Then they will probably open up shop in the U.S., which brings jobs. Think about it we account for 25%+ of the entire worlds consumer market. Someone will fill that gap.

Or they'll do what they've always done, continue with their existing business model and just pass on the cost to the consumer.

If I was a betting man I know which one my money would be on.

a reply to: reldra

That's the point darling. Less imports means less companies moving to Mexico.

a reply to: reldra

The cost to Mexico is that they'll import less because people will buy less. Welcome to the first day of Econ 101.

originally posted by: Konduit
a reply to: underwerks

Buy products that aren't made in Mexico. Problem solved.

Can I live in this world where things work how they should instead of how they do?

originally posted by: Whereismypassword

originally posted by: FauxMulder
a reply to: Natas0114

Bingo! I'll pay 20 percent more for a product that is going to last me 75 percent longer any day.

Your going to pay 20% more for the same quality product

No. Go buy a made in china tacforce pocket knife for 10 bucks. Then go buy a made in USA spyderco for a 150. See witch one is still in good condition after a couple years. I've been carrying and using my 150 dollar made in USA knife every day for 4 years now and its still in great condition.