Biden Vs. Trump Part II

Stone Mountain GA

Description

What amazed me about Trump supporters was no matter how bad he $crewed something up, they liked it! There are numerous examples, but lets focus on his Trade War with China. Our Trade Deficit (imbalance) with China was around $400 Billion in 2016. Our trade deficit world wide overall is around $650 billion now. One of the reasons is Kroger sells some pretty good frozen pizzas that are Made in Germany. The question is why is it cheaper for Kroger to import a $5 frozen pizza from a country 5,000 miles away that has an equal to or better standard of living than we do? That's another post. The reason we have a trade deficit with China is because they produce 42% of all the little things you consumers want at bargain prices. There hasn't been a TV Made in the USA in 35 years, and that goes for most household appliances from crock pots to lawn mowers to stuffed animals. Tariffs are used for 2 reasons, 1-in modest amounts from 1 to 15% to fund a nations government (see note 1). 2-tariffs are used to protect local producers from cheaper countries imports to bring their prices more in line. The thing is our trade deficit with most countries is based on they produce a product we want, and that product has not been produced here in 4 or 5 decades.. It was obvious Trump had no clue how international trade and especially Tariffs work. He proved that in 2019 when he wiped out Soy Bean sales in 2 hours, that our Farmers had established over the past 25 years with China. We know he lost that one because China announced 2 weeks later they were buying several ship loads of Brazilian Soybeans. And Trump got to spend $28 Billion in corporate welfare to bail out the farmers. President Trump told us numerous times his 25% Tariff on many Chinese Imports were being paid by China. That is not true. In the beginning some importers were able to negotiate slightly better prices with their suppliers, but that did not last long. We all saw the inflation at the cash register go up the last 3 years, starting before the new flu. President Biden has barely mentioned Trumps Tariffs that are still enforce, I wonder why. In 2018 our Treasury Department collected $41 Billion in Tariffs, by the 3rd quarter of 2019 due to the Trump Tariffs they collected $58 Billion, a 50% increase consumers paid for, regardless of which party they blindly support. Biden is a Democrat, aka a tax and spend President. With his $2 Trillion pork barrel deficit stimulus spending, he needs all the extra Tax Revenue he can get, so the Trump Tariffs are here to stay. Our imports from China have gone back up the last 3 years. The easiest way to become a Low Information Voter is to only get your information from sources you agree with. Note 1-Until 1913 our Federal Government got 85% of its tax revenues from import tariffs.