Mainecat Posted February 10, 2020 Share Posted February 10, 2020 Trump's Trade War Will Cost Average Family $1,277 This Year, Budget Office Reveals POLITICS 02/08/2020 10:30 pm ET Updated 7 hours ago Trump’s Trade War Will Cost Average Family $1,277 This Year, Budget Office Reveals The extra costs will effectively wipe out savings from the president’s tax cuts. https://www.huffpost.com/entry/cbo-1277-trump-trade-war-cost_n_5e3f5db1c5b6f1f57f125dfe President Donald Trump’s ongoing trade wars are expected to cost the average American family $1,277 this year, according to a study by the nonpartisan Congressional Budget Office. The figure is based on the negative impact of tariffs on economic growth, as well as higher prices to consumers as American manufacturers and retailers are forced to pay tariffs on imports. Trump has boasted that trade wars are “easy to win,” and has repeatedly falsely insisted that China is paying tariffs directly into the U.S. Treasury. In fact, American companies importing goods or supplies pay tariffs enacted by Trump, and typically pass on those costs to consumers. In addition, U.S. industries are hurt by retaliatory tariffs enacted by other nations when American companies try to sell their products abroad. The CBO also warns in its report that uncertainty about the future and trading relationships can cause companies to delay or drop investments in their operations, further dampening American economic growth.................................. Quote Link to comment Share on other sites More sharing options...
NaturallyAspirated Posted February 10, 2020 Share Posted February 10, 2020 Excellent! Neal Quote Link to comment Share on other sites More sharing options...
Snake Posted February 10, 2020 Share Posted February 10, 2020 5 Quote Link to comment Share on other sites More sharing options...
Sleepr2 Posted February 10, 2020 Share Posted February 10, 2020 Huffpo 1 Quote Link to comment Share on other sites More sharing options...
Mainecat Posted February 10, 2020 Author Share Posted February 10, 2020 Reported from Trumps budget office. FUCK TRUMP Quote Link to comment Share on other sites More sharing options...
spin_dry Posted February 10, 2020 Share Posted February 10, 2020 I thought China was paying for this? You mean it’s actually a tax? Quote Link to comment Share on other sites More sharing options...
f7ben Posted February 10, 2020 Share Posted February 10, 2020 It would have been fine if Trump stuck to his guns and actually fought China for our benefit. Instead he sold out and all the costs incurred were for nothing more than the Orange retard getting to claim a win Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted February 10, 2020 Platinum Contributing Member Share Posted February 10, 2020 (edited) CBO. They are like the climate change scientists of the economic world. Its fucking hilarious. They are CONSTANTLY wrong yet the media and govt use them as some kind of gold standard. Their predictions for Obamacare enrollment was off by 120%. CBO’s last projection of exchange enrollment before the exchanges opened overshot actual 2016 enrollment by 120 percent. Their predictions on govt revenue from the program was off by almost $14 billion. CBO released an estimate that the risk corridor program would net the federal government $8 billion over three years. CBO’s estimate assumed that insurers would be quite profitable selling exchange plans since insurers with “excess” profits contributed to the program while those with “excess” losses received payments from the program It turns out that CBO was significantly mistaken about insurer profitability. Insurers have incurred large losses on ACA plans, losses which have grown over time. These losses resulted in a $2.5 billion risk corridor deficit in 2014 and resulted in a $5.8 billion deficit in 2015 Edited February 10, 2020 by Highmark 1 Quote Link to comment Share on other sites More sharing options...
Zambroski Posted February 10, 2020 Share Posted February 10, 2020 19 minutes ago, Highmark said: CBO. They are like the climate change scientists of the economic world. Its fucking hilarious. They are CONSTANTLY wrong yet the media and govt use them as some kind of gold standard. Their predictions for Obamacare enrollment was off by 120%. CBO’s last projection of exchange enrollment before the exchanges opened overshot actual 2016 enrollment by 120 percent. Their predictions on govt revenue from the program was off by almost $14 billion. CBO released an estimate that the risk corridor program would net the federal government $8 billion over three years. CBO’s estimate assumed that insurers would be quite profitable selling exchange plans since insurers with “excess” profits contributed to the program while those with “excess” losses received payments from the program It turns out that CBO was significantly mistaken about insurer profitability. Insurers have incurred large losses on ACA plans, losses which have grown over time. These losses resulted in a $2.5 billion risk corridor deficit in 2014 and resulted in a $5.8 billion deficit in 2015 They remind me of “Snopes”. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted February 10, 2020 Platinum Contributing Member Share Posted February 10, 2020 4 minutes ago, Zambroski said: They remind me of “Snopes”. They are historically very inaccurate yet our politicians base votes on bills on how the CBO scored it. Easy excuse I guess to blame someone or something else. "Well the CBO scored it well." Quote Link to comment Share on other sites More sharing options...
Zambroski Posted February 10, 2020 Share Posted February 10, 2020 Just now, Highmark said: They are historically very inaccurate yet our politicians base votes on bills on how the CBO scored it. Easy excuse I guess to blame someone or something else. "Well the CBO scored it well." If we’ve learned anything from DC, it’s good to have an excuse and a scape goat for everything. Barry really ushered this practice into the mainstream nicely. Personal responsibility is good to shirk off. Quote Link to comment Share on other sites More sharing options...
Mainecat Posted February 10, 2020 Author Share Posted February 10, 2020 Another trump fallacy Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted February 10, 2020 Platinum Contributing Member Share Posted February 10, 2020 18 hours ago, Mainecat said: Trump's Trade War Will Cost Average Family $1,277 This Year, Budget Office Reveals POLITICS 02/08/2020 10:30 pm ET Updated 7 hours ago Trump’s Trade War Will Cost Average Family $1,277 This Year, Budget Office Reveals The extra costs will effectively wipe out savings from the president’s tax cuts. https://www.huffpost.com/entry/cbo-1277-trump-trade-war-cost_n_5e3f5db1c5b6f1f57f125dfe President Donald Trump’s ongoing trade wars are expected to cost the average American family $1,277 this year, according to a study by the nonpartisan Congressional Budget Office. The figure is based on the negative impact of tariffs on economic growth, as well as higher prices to consumers as American manufacturers and retailers are forced to pay tariffs on imports. Trump has boasted that trade wars are “easy to win,” and has repeatedly falsely insisted that China is paying tariffs directly into the U.S. Treasury. In fact, American companies importing goods or supplies pay tariffs enacted by Trump, and typically pass on those costs to consumers. In addition, U.S. industries are hurt by retaliatory tariffs enacted by other nations when American companies try to sell their products abroad. The CBO also warns in its report that uncertainty about the future and trading relationships can cause companies to delay or drop investments in their operations, further dampening American economic growth.................................. Best part is the CBO refused to estimate economic growth when it comes to tax cuts but will do it here with tariffs. CBO couldn't predict what color the sky is. Quote Link to comment Share on other sites More sharing options...
Mainecat Posted February 10, 2020 Author Share Posted February 10, 2020 28 minutes ago, Highmark said: Best part is the CBO refused to estimate economic growth when it comes to tax cuts but will do it here with tariffs. CBO couldn't predict what color the sky is. Deep State Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted February 10, 2020 Platinum Contributing Member Share Posted February 10, 2020 25 minutes ago, Mainecat said: Deep State CBO Quote Link to comment Share on other sites More sharing options...
Anler Posted February 10, 2020 Share Posted February 10, 2020 100% true. Consumers paid for the farmer bailout. How much free college could have been paid for with that $28 billion the neocons dismiss? Quote Link to comment Share on other sites More sharing options...
Mainecat Posted February 10, 2020 Author Share Posted February 10, 2020 35 minutes ago, Anler said: 100% true. Consumers paid for the farmer bailout. How much free college could have been paid for with that $28 billion the neocons dismiss? How about the trillion and a half that want to corporate America? Quote Link to comment Share on other sites More sharing options...
Anler Posted February 10, 2020 Share Posted February 10, 2020 2 minutes ago, Mainecat said: How about the trillion and a half that want to corporate America? There is always socialism for that. And that was just since september. LOL Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted February 10, 2020 Platinum Contributing Member Share Posted February 10, 2020 Impeach him. Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted February 10, 2020 Share Posted February 10, 2020 1 hour ago, Anler said: 100% true. Consumers paid for the farmer bailout. How much free college could have been paid for with that $28 billion the neocons dismiss? Fuck college- Trumps going to make sure those poor people can;t get educated in his new budget. Quote Link to comment Share on other sites More sharing options...
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