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Trump’s farm bailout has cost taxpayers more than double the auto bailout

Discussion in 'Current Events' started by cd8ed, Oct 8, 2019.

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  1. cd8ed

    cd8ed Well-Known Member Past Donor

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    “Back when General Motors and Chrysler faced bankruptcy during the Great Recession, Presidents George W. Bush and Barack Obama pumped billions into a rescue of the auto industry. That bailout ultimately cost the public about $12 billion when everything was settled and loans repaid.

    But that looks like small potatoes compared with the farm bailout underway now. So far, Trump’s direct payments to farmers hurt by his trade dispute with China have totaled some $28 billion — more than twice what the auto bailout cost, according to calculations from Bloomberg Businessweek. And the payments are still flowing with no end in sight to the trade dispute. [source]”

    Such a strange event is happening in this country; we are piling on massive debt, cutting taxes for the extremely wealthy, and enacting bailout programs (that will never be repaid) during what many deem as a great rocket ship of an economy all while the fed is engaging in quantitative easing — even if they are not calling it that...

    Feels almost like the economy is being propped up doesn’t it?
     
    cd8ed, Oct 8, 2019
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  2. nopartisanbull

    nopartisanbull Well-Known Member

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    They'll soon be chanting; "FY2019 Revenues are up 4%!"...….up $120 billion

    Well, Custom duties are up $30 billion, and Trump’s direct payments to farmers hurt by his trade dispute have totalled $28 billion, thus, revenues are up 3%.

    Also, Trump's GDP boosting expenditures have increased by $110 billion, and growth spurs revenues. In other words, another DISMAL revenue growth rate considering the fact, after the full implementation of Bush's and Kasich's tax cuts, their revenue growth rates have skyrocketed above 10%.

    In addition, a few Trumpeteers have been chanting; "Deficit spending is up mostly due to ENTITLEMENTS"

    Definition of entitlements; "a government program that provides benefits to any individual meeting certain eligibility requirements", thus, what are farm subsidies, earned benefits or entitlements?
     
    nopartisanbull, Oct 10, 2019
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  3. cd8ed

    cd8ed Well-Known Member Past Donor

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    Adding in the deficit spending — during a “rocket ship of an economy” — along with the measures the FED is implementing we are probably closer to zero percent growth.

    Those are good welfare to the right people though, while making sure poorer families don’t starve or have housing are the bad people.
     
    cd8ed, Oct 10, 2019
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  4. Borat

    Borat Banned

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    Borat, Oct 10, 2019
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  5. cd8ed

    cd8ed Well-Known Member Past Donor

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    Read what? It’s behind a paywall.

    Lots of words like “could and “on pace” in your sentiment.
    Meaning they also might not happen.

    try again
     
    cd8ed, Oct 10, 2019
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  6. Borat

    Borat Banned

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    Difficulties with arithmetics? The revenue from CHINESE tariffs by tens of billions of dollars exceeds the payouts to AMERICAN farmers.

    Rejoice, Trump is making a ton of money for the country. You're welcome. Lol
     
    Borat, Oct 10, 2019
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  7. Junkieturtle

    Junkieturtle Well-Known Member Donor

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    You collected $100 billion in tariff's....from the American people. You're celebrating how much more money the American people have to pay to get the same things they were paying less for before Trump.
     
    Junkieturtle, Oct 10, 2019
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  8. Borat

    Borat Banned

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    Tariffs are not collected from people, tariffs are collected from importers.

    Taxes are collected from people. Those very taxes that you libs want to raise to 70%, they would be collected from people if libs have it their way.

    Duh
     
    Last edited: Oct 10, 2019
    Borat, Oct 10, 2019
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  9. cd8ed

    cd8ed Well-Known Member Past Donor

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    Please don’t edit down posts because they delete your narrative. It just makes you look weak and pathetic :/

    No one doubts your integrity though so I don’t guess it matters.
     
    cd8ed, Oct 10, 2019
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  10. cd8ed

    cd8ed Well-Known Member Past Donor

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    Where do you think these importers get their money from?
    Let me guess, you think they are footing the bill

    :roflol:
     
    cd8ed, Oct 10, 2019
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  11. Borat

    Borat Banned

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    Let me try to help you with your difficulties on economic matters cause it's reality simple. If the inflation is low, the consumers AREN'T footing the bill. Can you figure out the rest on your own?

    PS Trump collects a windfall of $70 billion in profits, the consumers aren't paying more, the farmers are happy.... the libs are outraged lol
     
    Last edited: Oct 10, 2019
    Borat, Oct 10, 2019
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  12. MolonLabe2009

    MolonLabe2009 Banned

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    From article: "...according to calculations from Bloomberg Businessweek."

    More fake news.
     
    MolonLabe2009, Oct 10, 2019
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  13. Gdawg007

    Gdawg007 Well-Known Member

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    So anyone who has data that doesn't agree with your beliefs is fake? It's time to evaluate the actual data being presented, not the source, because you're continue dismissal of data in the face of reality is getting your boy in serious trouble.
     
    Gdawg007, Oct 10, 2019
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  14. truth and justice

    truth and justice Well-Known Member

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    truth and justice, Oct 10, 2019
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  15. truth and justice

    truth and justice Well-Known Member

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    LOL You clearly have no clue what tariffs are!
     
    truth and justice, Oct 10, 2019
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  16. cd8ed

    cd8ed Well-Known Member Past Donor

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    Except consumers are paying more.
    But enjoy your delusions.
     
    cd8ed, Oct 10, 2019
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  17. cd8ed

    cd8ed Well-Known Member Past Donor

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    Care to show the flaw in their methodology?
    Their accuracy and factual reporting is rated as high by all five of the top reviewing agencies.

    guess they are all fake news also.
    Everything is fake news apparently, unless it comes from the fraud adulterous bankrupt liar that currently resides in our White House — unless he’s playing golf.
     
    cd8ed, Oct 10, 2019
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  18. Borat

    Borat Banned

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    Rejoice, you're wrong again, the inflation is very very low. Life is good, the tariffs bring in $70 billions in extra cash, the farmers are happy and American consumers are NOT paying for it. Open the link, see for yourself and applaud Trump for job well done.

    https://www.usinflationcalculator.com/inflation/current-inflation-rates/
     
    Borat, Oct 10, 2019
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  19. truth and justice

    truth and justice Well-Known Member

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    You still haven't said who is paying these tariffs......................
     
    truth and justice, Oct 10, 2019
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  20. Borat

    Borat Banned

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    Economists 101 class is in another classroom. I am not your online tutor either. Google what you don't know, don't ask me. Duh

    That been said, i have given you absolutely undeniable facts:

    1. $70 bln windfall profit after helping the farmers.

    2. Very low inflation proving that customers are not paying for it

    That is all that matters to the American people, the rest is just your attempts to muddy the waters.
     
    Last edited: Oct 10, 2019
    Borat, Oct 10, 2019
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  21. cd8ed

    cd8ed Well-Known Member Past Donor

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    Look up quantitative easing and get back with us.
     
    cd8ed, Oct 10, 2019
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  22. cd8ed

    cd8ed Well-Known Member Past Donor

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    No one is, it’s free money!
    Just like Mexico paying for the wall!
     
    cd8ed, Oct 10, 2019
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  23. HB Surfer

    HB Surfer Well-Known Member Past Donor

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    Trade Wars are costly. I am almost always against them. But, this one with China... TOTALLY SHOULD HAVE HAPPENED A DECADE AGO!

    I blame Clinton, Bush, Obama, etc. for letting it get this bad. China's incredibly abusive tactics and draconian treatment of their people and others needs to be put in check. If it doesn't happen now, they will overrun the world with their Authoritarian practices and slave labor.
     
    HB Surfer, Oct 10, 2019
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  24. Borat

    Borat Banned

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    It IS free money as far as American consumers are concerned. Given very low inflation they are absolutely not paying for it. And farmers are happy. And extra $70 bln in treasury coffers.

    What's your problem again?
     
    Last edited: Oct 10, 2019
    Borat, Oct 10, 2019
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  25. AFM

    AFM Well-Known Member Past Donor

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    China's theft of IP and technology costs the US $400B per year.
     
    AFM, Oct 10, 2019
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