Be ready for the new coming value added tax

Discussion in 'Fred's House of Pancakes' started by Georgina Rudkus, Nov 14, 2024.

  1. Georgina Rudkus

    Georgina Rudkus Senior Member

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    That's the new national sales tax that the new administration will call tariffs.
     
  2. ETC(SS)

    ETC(SS) The OTHER One Percenter.....

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    Don't you mean retaliatory tariffs?

    @ VATs
    What?
    No argument about how the rest of the world is doing it.....???
     
  3. Georgina Rudkus

    Georgina Rudkus Senior Member

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    That's the new national sales tax that the new administration will call tariffs.
     
  4. Georgina Rudkus

    Georgina Rudkus Senior Member

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    No, the importer pay the tariff and adds it to the consumer. It is the same as the value added tax as they pay in Canada.
     
  5. bisco

    bisco cookie crumbler

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    we're on an austerity program for the next four years. the last four haven't been a lot of fun either
     
  6. Georgina Rudkus

    Georgina Rudkus Senior Member

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    They can't make things in the US as cheap as in China.

    Made in USA may cost as much as 5-6 times as made in China.

    Even if the tariffs double the price, consumers will still choose made in China.

    Basically, that's 100% inflation.
     
  7. bisco

    bisco cookie crumbler

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    we've been living in a false economy since nixon
     
  8. Georgina Rudkus

    Georgina Rudkus Senior Member

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    The factories in China are feverishly working overtime to produce orders to ship before the new tariffs go into effect.
     
  9. bisco

    bisco cookie crumbler

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    a drop in the bucket compared to what will be needed everyday for the next four years
     
  10. Georgina Rudkus

    Georgina Rudkus Senior Member

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    I'm going on a buying spree on Amazon for anticipated future needs of imported items expecting that their prices will likely double.
     
  11. bisco

    bisco cookie crumbler

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    if you can be sure you are gonna need it, it's a good play. we don't buy much anymore except for perishables.
     
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  12. Georgina Rudkus

    Georgina Rudkus Senior Member

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    Same here, but material and goods that I purchased years ago will have greater sales value due to inflation and the coming tariffs.
     
  13. Hayslayer

    Hayslayer Junior Member

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    Years back, when gas went crazy (around 2012 or 13?), I watched 3 guys fill 8 55 gallon drums full of gas at about 3.75 a gallon. Talked to them for a few minutes and all they could talk about was how the news was saying gas was going to go to $10 a gallon and they were planning ahead. A week later, prices started dropping and we never saw that price again for several years. I still laugh about that one.

    Don't waste your time trying to look in a crystal ball, because the people selling the crystal ball are lying. But, if you insist, at least stock up on poop paper like the other preppers did for covid. At least you'll eventually use that, regardless of what the world does.
     
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  14. Georgina Rudkus

    Georgina Rudkus Senior Member

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    How are tariffs, eventually paid by the consumer going to be less, if implemented?

    Be ready to pay even more for your next car. The whole car or if not, many parts of the car are imported.
     
  15. ETC(SS)

    ETC(SS) The OTHER One Percenter.....

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    Inflation.

    You're going to pay more for your car no matter who won the last election.
    AND both parties seem to be cosmically thick on the difference between winning and 'not losing.'

    175 nations have VATs, and for the last 100 years or so "progressives" (they don't DARE call themselves liberals after the 90's!!!) have been sating that we "need to be more like Europe..."

    ...this was......of course BEFORE the 'EU"..... ;)
     
  16. ETC(SS)

    ETC(SS) The OTHER One Percenter.....

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    AND 174 other nations?
    Reciprocity is about the same as 'fair trade' - isn't it?
    You're right btw...about the VAT being economically the same thing as a tariff only without 'borders.'

    Doesn't math demand that EVERYTHING gets 'added to the consumer?'

    Meet the new boss.
    Same as the old boss.
     
  17. Prodigyplace

    Prodigyplace 2025 Camry XLE FWD

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    So buying US made has no importer and therefore no tax. That is the whole point of the tariff much like Canada did in the 1960s forcing many US companies to create Canadian subsidiaries to avoid it. Not Canada says even a 10% tariff from the US will be devastating to them.
     
  18. Georgina Rudkus

    Georgina Rudkus Senior Member

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    That's great, if the same or equivalent product is made domestically and cost the same or less or is of better quality than the imported item.

    If not, it's basically a new inflated price to the consumer.

    If the price of the imported item becomes so high, no one will buy. Then, no tax ir tariff will be collected. It becomes a lose lose situation for commerce.
     
  19. Prodigyplace

    Prodigyplace 2025 Camry XLE FWD

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    If the price becomes too high, it is an incentive for the company to produce their goods in the US, increasing the US economy and reducing the trade deficit.

    How else do you incentivize companies based on greed & profits? I know most advertise they work for your best interests, but you know that is a lie.
     
  20. Georgina Rudkus

    Georgina Rudkus Senior Member

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    It might reduce the trade deficit and also reduces the GDP.

    Another lose lose situation.