The Meltdown over tariffs.
No Nike shoes are not going to cost 93% more.
The apoplectic meltdown over the last week from the “legacy media” and left wing pundits has been insane. I read an article from someone claiming to be a reliable source on economics saying that your Nike shoes will now cost 93% more due to the tariffs on Vietnam.
The only thing he is good at is selling brown paper bags for people to hyperventilate into. What a retard. This is how tariffs work.
Nike Vietnam make a shoe for about 2 bucks. This shoe is then sent to the US and purchased by Nike Inc for 5 bucks. This 5 bucks is then tariffed at 93% meaning they pay about 5 bucks in tariffs. This shoe is then sold for 205 bucks instead of 200.
The tariffs will make most things slightly more expensive. The tariffs will force companies that are outside the US to set up an Inc. in the US to act as an importer to keep the tariffs as low as possible, create more companies in the US and hence then transfer not only tariff money to the US coffers but also corporate tax.
IF the EU doesn´t follow suit here there will be no EU left in 20 years. It will literally be a living museum for rich Chinese and Indians to visit.
IT has been close to 2 years since my last post. I need to get back into writing.
Did you miss me??
It's just another tax that puts more of your wages into the government coffers.
Yes missed you.
Nice concise example of a tarrif.