US records first budget surplus in 20 years

[sean]

spending is up 142b over the first 6 months of the year compared to last year

[ziggy1891]

@King_Canuck

@ziggy1891

@Gregbrady

i like tariffs as an economic tool
tax consumption on goods made in other countries makes much more sense than income tax

General tariffs are a regressive tax hitting the working class the hardest. It also protects inefficient companies from competition, which also raises the general cost of living.

Except there has been no inflation since liberation day.
At some point Trump is right and all you people calling for increased prizes due to tariffs are wrong

We’re three months in. How’s your understanding of supply chain inertia?

You’ll make a better point if it’s the case a year from now, but I doubt it’ll be. I trust basic economics over your and Trump’s wishful thinking. When costs go up, prices go up.

[anothertmaguy]

There’s been sneak Fed buying of treasuries that I’m sure Powell knows about but will not say it aloud. That is the only reason the 10 year treasury yields are still below 5%. Foreign buyers of US treasuries have decreased massively. Money supply has to be increasing.

Inflation is coming.

[410Sprint]

Tariff paid by businesses or corporations, cost passed on to the customer. Econ 101

[metrocksncn]

I cut a check to the IRS.

[Gregbrady]

the consumer that buys foreign made shit. I like tariffs more than pretty much any other type of tax. They make tons of sense and are way better than an income tax

[Jamie999]

Tariffs make sense when they drive spending domestically either through domestic companies getting those sales or from reduction in units of imported goods (but no domestic replacement)…

However with a product with inelastic demand AND no domestic substitute.. They just turn into a tax on locals… Thats the primary situation they should be avoiding.

[ziggy1891]

@Jamie999

Tariffs make sense when they drive spending domestically either through domestic companies getting those sales or from reduction in units of imported goods (but no domestic replacement)…

However with a product with inelastic demand AND no domestic substitute.. They just turn into a tax on locals… Thats the primary situation they should be avoiding.

Yeah, but you’re not taking countermeasures into account. When the US puts up tariffs against Western countries it has free trade with its export industry will be met with tariffs on its products. That lowers demand on domestically produced goods. You’re shrinking the available market. And you’re lowering price competition on that smaller market.

It’s basically the Prisoner’s Dilemma with complete information. Tariffs will be met with tariffs and that makes it worse for everyone.

[Jamie999]

@ziggy1891

@Jamie999

Tariffs make sense when they drive spending domestically either through domestic companies getting those sales or from reduction in units of imported goods (but no domestic replacement)…

However with a product with inelastic demand AND no domestic substitute.. They just turn into a tax on locals… Thats the primary situation they should be avoiding.

Yeah, but you’re not taking countermeasures into account. When the US puts up tariffs against Western countries it has free trade with its export industry will be met with tariffs on its products. That lowers demand on domestically produced goods. You’re shrinking the available market. And you’re lowering price competition on that smaller market.

It’s basically the Prisoner’s Dilemma with complete information. Tariffs will be met with tariffs and that makes it worse for everyone.

Ya but usa already has the freest market in the world with lowest tariffs. They get fucked by many decades of trade negotiations made to fuck the country to enrich friends and donors.

[Jamie999]

Hilarious coming from you anyway…

[Jamie999]

EU has higher tariffs than USA does. How come you’re not lobbying your own government to reduce them.

[ziggy1891]

@Jamie999

@ziggy1891

@Jamie999

Tariffs make sense when they drive spending domestically either through domestic companies getting those sales or from reduction in units of imported goods (but no domestic replacement)…

However with a product with inelastic demand AND no domestic substitute.. They just turn into a tax on locals… Thats the primary situation they should be avoiding.

Yeah, but you’re not taking countermeasures into account. When the US puts up tariffs against Western countries it has free trade with its export industry will be met with tariffs on its products. That lowers demand on domestically produced goods. You’re shrinking the available market. And you’re lowering price competition on that smaller market.

It’s basically the Prisoner’s Dilemma with complete information. Tariffs will be met with tariffs and that makes it worse for everyone.

Ya but usa already has the freest market in the world with lowest tariffs. They get fucked by many decades of trade negotiations made to fuck the country to enrich friends and donors.

How is the EU, UK and Canada fucking over the US?

@ziggy1891

“Before the trade war, the average US tariff rate on imports from the EU was 1.47 percent, while on EU imports from the US it was 1.35 percent.”

[ziggy1891]

@Jamie999

Hilarious coming from you anyway…

No idea what this is supposed to mean.

[Jamie999]

Why aren’t you lobbying EU to reduce their tariffs?

[Jamie999]

You never gave a shit till TDS kicked in.

[Jamie999]

And your TDS kicked in because you think he will stop funding Ukraine war which you want to go on forever for whatever reason.

[ziggy1891]

@Jamie999

Why aren’t you lobbying EU to reduce their tariffs?

Hate to break it to you, but the OG isn’t the lobbying power house you believe it to be. It’s an obscure message board where people discuss issues that interest them. Trump tariffs are something completely different from the slow moving, bureaucratic trade negotiations of the EU.

Now how about you answer the question you obviously lack an answer to, instead of trying to deflect from it.

[Jamie999]

You’re a propagandist i dont owe you shit. You never engage any conversation in good faith.

Fuck off.

[ziggy1891]

@Jamie999

You’re a propagandist i dont owe you shit. You never engage any conversation in good faith.

OK, so you don’t know how the EU, UK and Canada is fucking over the US. You just made that up - but you discuss in good faith and I don’t.

You’re kind of full of shit then.

[410Sprint]

Yes. Better to tax what is purchased rather than on one’s personal income. Imagine the possibility!!!