Trump's tariffs now cost Americans more than Obamacare taxes

[TheCount]

It’s official: The latest round (https://www.usatoday.com/story/money/nation-now/2018/09/18/china-tariff-auto-industry-impact/1346276002/) of tariffs now means that the total tax increase on Americans from enacted tariffs exceeds the tax increases from the Affordable Care Act, (un)popularly known as “Obamacare.”On Sept. 19, President Trump imposed a 10 percent tax on $200 billion of Chinese imports. On Jan. 1, 2019, this tax will rise to 25 percent. But even without that January tariff rate increase, trade taxes on American businesses and consumers will exceed those of the ACA.

With the added $20 billion in trade taxes coming from this latest round of tariffs, the National Taxpayers Union Foundation now estimates (https://www.ntu.org/foundation/detail/trump-trade-taxes-will-exceed-obamacare-taxes-next-year) the total annual cost of enacted tariffs to be $41.65 billion. That easily outpaces the tax bill from the Affordable Care Act for next year ($34.6 billion) after accounting for recent changes (https://www.jct.gov/publications.html?func=startdown&id=5058) to the ACA.

The $67.2 billion estimated 2019 tax burden of the Affordable Care Act prior (https://www.cbo.gov/system/files?file=115th-congress-2017-2018/costestimate/52939-hr1628amendment.pdf) to those changes is lower than the cost of new trade taxes once a scheduled $30 billion tariff increase takes effect in January. If every currently proposed tariff is enacted, the total trade tax burden will nearly double even the tax burden of the pre-reform ACA — NTUF estimates the net total of proposed and enacted trade taxes to be $132.55 billion. That would offset more than 70 percent of the $188.8 billion (https://www.jct.gov/publications.html?func=startdown&id=5053) in 2019 individual income tax cuts.


https://www.washingtonexaminer.com/opinion/trumps-tariffs-now-cost-americans-more-than-obamacare-taxes

[Danke]

Sounds legit.

[Danke]

https://www.youtube.com/watch?v=EVhxGEffzcY

[Aratus]

Trump's high tariffs...

[Swordsmyth]

If you don't count the Chinese dropping their prices to compensate or the regulatory costs etc. that Obamacare causes. :rolleyes:

[nobody's_hero]

As someone who doesn't worship at the altar of consumerism, I think I will survive the tariffs. Obamacare, on the contrary, was essentially unavoidable.

[oyarde]

I paid no obummercare fines nor will tariffs effect me . I am not a slave .

[spudea]

Name a single product that actually increased in price to the end consumer.

[r3volution 3.0]

Name a single product that actually increased in price to the end consumer.

Washing machines

[thoughtomator]

Bastiat would have a stroke reading this garbage.

[spudea]

Washing machines

False. I searched multiple brands and models using an Amazon price tracker and compared to 6 months ago the prices are the same or lower.

[CaptUSA]

Bastiat would have a stroke reading this garbage.

Can you clarify what garbage?? Bastiat was adamantly opposed to protectionism.

[r3volution 3.0]

False. I searched multiple brands and models using an Amazon price tracker and compared to 6 months ago the prices are the same or lower.

Largest Ever 3-Month Increase in Washing Machine Prices (http://www.aei.org/publication/washing-machine-tariffs-started-trumps-trade-war-result-historic-3-month-increase-in-washing-machine-prices/)

http://www.aei.org/wp-content/uploads/2018/07/cpiwasher3.png


If you’re unfortunate enough to be shopping for a new washing machine, you can thank the Trump tariffs on imported washing machines, washing machine parts, steel and aluminum for the largest three-month price increase — 16.4% from February to May this year — in the 40-year history of the BLS series for Major Appliances: Laundry Equipment that started in January 1978 (see chart above).

[Anti Federalist]

What a load of horse shit.

Between my employer and myself I am paying well over $1500 a month in health care insurance costs.

Any price increases of retail and durable goods has been negligible to the point of non existence and certainly no where near over $1500 a month in increases.

[Anti Federalist]

False. I searched multiple brands and models using an Amazon price tracker and compared to 6 months ago the prices are the same or lower.


Largest Ever 3-Month Increase in Washing Machine Prices (http://www.aei.org/publication/washing-machine-tariffs-started-trumps-trade-war-result-historic-3-month-increase-in-washing-machine-prices/)

http://www.aei.org/wp-content/uploads/2018/07/cpiwasher3.png

So who is wrong here?

You both can't be right.

[r3volution 3.0]

So who is wrong here?

You both can't be right.

Well, I posted sourced CPI data; spudea posted unsourced personal anecdotes.

[dannno]

This is a pretty narrow sliver, but Sears seems to be increasing their prices on washing machines.. interestingly, the Electrolux brand may be cheaper than it was 6 months ago, but everything else is up.





Kenmore 41262 4.5cu.ft. Front-Load Washer - White


https://www.sears.com/kenmore-41262-4.5-cu-ft-front-load-washer/p-02641262000P?plpSellerId=Sears&prdNo=1&blockNo=1&blockType=G1

https://web.archive.org/web/20180319003027/https://www.sears.com/kenmore-41262-4.5-cu-ft-front-load-washer/p-02641262000P?plpSellerId=Sears&prdNo=1&blockNo=1&blockType=G1

Retail Price increase:

0.85%

Catalog Price increase:

12.8%

Samsung WF42H5000AW 4.2 cu. ft. Front-Load Washer - White


https://www.sears.com/samsung-4.2-cu-ft-front-load-washer-white/p-02646322000P?plpSellerId=Sears&prdNo=3&blockNo=3&blockType=G3

https://web.archive.org/web/20180324223734/https://www.sears.com/samsung-4.2-cu-ft-front-load-washer-white/p-02646322000P?plpSellerId=Sears&prdNo=3&blockNo=3&blockType=G3


Retail Price Increase:

13.4%

Catalog Price Increase:

14.2%


LG WM3770HVA 4.5 cu. ft. Front Load Washer w/ TurboWash® - Graphite Steel


https://www.sears.com/lg-wm3770hva-4.5-cu-ft-front-load-washer-w/p-02645583000P?plpSellerId=Sears&prdNo=16&blockNo=16&blockType=G16

https://web.archive.org/web/20170627155840/https://www.sears.com/lg-wm3770hva-4.5-cu-ft-front-load-washer-w/p-02645583000P?plpSellerId=Sears&prdNo=16&blockNo=16&blockType=G16

Retail Price Increase:

34.7%

Catalog Price Increase:

9.1%


Bosch WAT28401UC 500 Series 2.2 cu. ft. Compact Washer - White


https://www.sears.com/bosch-500-series-24inch-compact-washer-white/p-02649242000P?plpSellerId=Sears&prdNo=29&blockNo=29&blockType=G29

https://web.archive.org/web/20170429162510/https://www.sears.com/bosch-500-series-24inch-compact-washer-white/p-02649242000P?plpSellerId=Sears&prdNo=29&blockNo=29&blockType=G29

Retail Price increase:

15.6%

Catalog Price increase:

4.4%


Electrolux EFLS517SIW 4.3 cu. ft. Front-Load Perfect Steam™ Washer - White


https://www.sears.com/electrolux-efls517siw-4.3-cu-ft-front-load-perfect/p-02648532000P?plpSellerId=Sears&prdNo=47&blockNo=47&blockType=G47

https://web.archive.org/web/20180324230753/https://www.sears.com/electrolux-efls517siw-4.3-cu-ft-front-load-perfect/p-02648532000P?plpSellerId=Sears&prdNo=47&blockNo=47&blockType=G47

Retail Price Increase:

0% (Price in cart might be even lower, could be a price reduction)

Catalog Price Increase:

0%

[dannno]

Well, I posted sourced CPI data; spudea posted unsourced personal anecdotes.

Ya, we should always trust the government data :rolleyes:

You would discredit yourself less if you didn't talk so much.

[Swordsmyth]

So who is wrong here?

You both can't be right.

I think I believe the guy quoting market prices instead of the one quoting government numbers.

The bureaucracy is full of people who want to make Trump look bad.

[DamianTV]

If the Tariffs cost more than Obama's Taxes, maybe we should not have sent all our jobs overseas and import everything!

[r3volution 3.0]

Ya, we should always trust the government data :rolleyes:

The BLS tends to underestimate inflation.


I think I believe the guy quoting market prices instead of the one quoting government numbers.

The bureaucracy is full of people who want to make Trump look bad.

No one quoted any market price.

[eleganz]

Nobody (with a brain) here actually believes these tariffs are permanent.

Nobody here actually thought Obamacare could be repealed, and it still isn't. Only the mandate is dead.

I'll take temporary tariffs with a near certainty of net lower tariffs in the end, over Obamacare + individual mandate, forever.

[spudea]

This is a pretty narrow sliver, but Sears seems to be increasing their prices on washing machines.. interestingly, the Electrolux brand may be cheaper than it was 6 months ago, but everything else is up.

Bosch WAT28401UC 500 Series 2.2 cu. ft. Compact Washer - White


https://www.sears.com/bosch-500-series-24inch-compact-washer-white/p-02649242000P?plpSellerId=Sears&prdNo=29&blockNo=29&blockType=G29

https://web.archive.org/web/20170429162510/https://www.sears.com/bosch-500-series-24inch-compact-washer-white/p-02649242000P?plpSellerId=Sears&prdNo=29&blockNo=29&blockType=G29

Retail Price increase:

15.6%

Catalog Price increase:

4.4%


Yes a single retailer price will highly vary based on their inventory and sale campaigns that they have going on. Here's the amazon price tracker I used that shows this Bosch model at $1124 in January, to $1025 now. Amazon can list and fulfill from several 3rd party retailers.

https://camelcamelcamel.com/Bosch-WAT28401UC-White-Stackable-Washer/product/B010DR4MOO?context=search

[spudea]

Well, I posted sourced CPI data; spudea posted unsourced personal anecdotes.

The CPI has a key flaw that they only survey urban area in 70 cities, do not survey rural areas. The BLS also provides this disclaimer in their release info: "The CPI is a statistical estimate that is subject to sampling error because it is based upon a sample of retail prices and not the complete universe of all prices."

[r3volution 3.0]

The CPI has a key flaw that they only survey urban area in 70 cities, do not survey rural areas. The BLS also provides this disclaimer in their release info: "The CPI is a statistical estimate that is subject to sampling error because it is based upon a sample of retail prices and not the complete universe of all prices."

If you're arguing that the CPI is an imperfect measure of price inflation, I agree (never claimed it was perfect).

If you're arguing that it's less accurate than the data you posted, that can't be, since you didn't post any.

[spudea]

If you're arguing that the CPI is an imperfect measure of price inflation, I agree (never claimed it was perfect).

If you're arguing that it's less accurate than the data you posted, that can't be, since you didn't post any.

post #23 shows my method. I'm satisfied with what I have presented and am confident anyone can obtain the knowledge for themselves. See sig.

[TheCount]

If the Tariffs cost more than Obama's Taxes, maybe we should not have sent all our jobs overseas and import everything!

And perhaps you shouldn't purchase anything and instead produce it all yourself.

If you did that, would you be more or less wealthy?

[r3volution 3.0]

my method

So the method is to take one model on Amazon and assume it represents the whole washing machine market in the US?

Here's another model for sale on Amazon, whose price increased $130 (26%) since February.

https://thetracktor.com/detail/B074BXLK17/

What now?

Maybe we need an average of many such price changes.

:confused:

...if only this sort of data had already been compiled and published somewhere.

[Pauls' Revere]

What a load of horse $#@!.

Between my employer and myself I am paying well over $1500 a month in health care insurance costs.

Any price increases of retail and durable goods has been negligible to the point of non existence and certainly no where near over $1500 a month in increases.

Holy Cow!