Long Island Watch Talks Tariffs

[Selym]

his fist video.

Sounds like something Terry might be into!

[hoppyjr]

his fist video.

Sounds like something Terry might be into!

Don’t be mean! Everyone knows Terry only likes three fingers.

[demer03]

All I can say is for me…states, contractors, and end users are sending lots of interest our way and are wanting to make sure we are a US manufacturer using predominantly US material. It appears it will bring more business in the door for us. I hope others as well.

Anywho….Ireland is amazing, if anyone was on the bubble…

It’s a beautiful place and I have to say, the people are as friendly, as I read, they were. Enjoy Mike…looks like you’re having amazing weather too. Safe travels.


Sent from my iPhone using Tapatalk

So friendly. Weather could not have been better for springtime.

[mattcantwin]

his fist video.

Sounds like something Terry might be into!

[River Rat]

This might be the real reason for tariffs and it's not for bringing jobs back to America. It's a tax so he can do away with income tax only way to pull it off. Don't know if it would be cheaper to pay a tax like tariff or income tax but the tariffs might not be enough to pay for the govt. It's a possibility. It will put states in a bind if the income tax goes away the states will look like turds charging income tax and property taxes I guess a tariff will turn into a sales tax for the feds, I am so used to paying income taxes it doesn't bother me at my age it's what paid me in the Navy I am willing to pay for national security. But I guess it bothers the ones with too much money who want to keep all their money.

[Ryeguy]

This might be the real reason for tariffs and it's not for bringing jobs back to America. It's a tax so he can do away with income tax only way to pull it off. Don't know if it would be cheaper to pay a tax like tariff or income tax but the tariffs might not be enough to pay for the govt. It's a possibility. It will put states in a bind if the income tax goes away the states will look like turds charging income tax and property taxes I guess a tariff will turn into a sales tax for the feds, I am so used to paying income taxes it doesn't bother me at my age it's what paid me in the Navy I am willing to pay for national security. But I guess it bothers the ones with too much money who want to keep all their money.

I don't think you are too far off the mark, Mike.

My simplistic interpretation is the government has been overspending for years and accumulating debt.

Like anyone in this situation, you would try to:
1) Cut costs (AKA "DOGE")
2) Increase income

Increasing the Federal income tax is the kiss of death for any President, so I guess Trump is trying to do so using tariffs.

Some might argue that tariffs are more fair than an income tax because you can choose to not buy something (or buy alternative products with lesser tariff amounts). You cannot choose to not pay income tax.

Personally, I am against any inhibitors to trade. At worst, I would like to only reciprocal (and equal) tariffs in place to level the playing field.

As mentioned earlier, I would much rather see businesses get incentivized through tax breaks to bring manufacturing back to the USA (like Ireland did with the pharmaceutical industry back in the 1960's and 1970's).

[shaneotool]

I sell plumbing supplies. I've received notices from manufacturers and prices are going up across the board. 5-15%. I heard that they may go up a bit more too.

If you need something, I'd get it now. Will be more expensive next month.

[hoppyjr]

This might be the real reason for tariffs and it's not for bringing jobs back to America. It's a tax so he can do away with income tax only way to pull it off. Don't know if it would be cheaper to pay a tax like tariff or income tax but the tariffs might not be enough to pay for the govt. It's a possibility. It will put states in a bind if the income tax goes away the states will look like turds charging income tax and property taxes I guess a tariff will turn into a sales tax for the feds, I am so used to paying income taxes it doesn't bother me at my age it's what paid me in the Navy I am willing to pay for national security. But I guess it bothers the ones with too much money who want to keep all their money.

A tax on purchases / consumption is better than a tax on income, as you aren’t taxed on money you don’t spend.

Let’s give this time to work itself out. I suspect there are multiple motives for these moves. Keep in mind, Trump was talking about this very issue 39 years ago, so it’s not new. Democrats also have been vocal about the unfair trade practices for years too.

[DocHollidayDDS]

This might be the real reason for tariffs and it's not for bringing jobs back to America. It's a tax so he can do away with income tax only way to pull it off. Don't know if it would be cheaper to pay a tax like tariff or income tax but the tariffs might not be enough to pay for the govt. It's a possibility. It will put states in a bind if the income tax goes away the states will look like turds charging income tax and property taxes I guess a tariff will turn into a sales tax for the feds, I am so used to paying income taxes it doesn't bother me at my age it's what paid me in the Navy I am willing to pay for national security. But I guess it bothers the ones with too much money who want to keep all their money.

A tax on purchases / consumption is better than a tax on income, as you aren’t taxed on money you don’t spend.

Let’s give this time to work itself out. I suspect there are multiple motives for these moves. Keep in mind, Trump was talking about this very issue 39 years ago, so it’s not new. Democrats also have been vocal about the unfair trade practices for years too.

Yep, I've seen videos in recent days of much younger versions of Nancy Pelosi and Chuck Schumer railing against China's unfair trade practices (not just tariffs) from the floor of Congress. Wonder when they lost their enthusiasm for balancing the scales?

It looks like the EU, Japan, South Korea, Taiwan and others are going to fall into line with zeroing out tariffs in the near future, so hopefully the market will respond positively to these deals as they are finalized. China is the big bad here, and currently it's been back-and-forth reciprocal increases, so now we'll have to wait to see who blinks first. But as the deficit partner in trade with them, we're certainly in the stronger position to wait things out. However, our government actually has to care about what its citizens think, whereas China isn't hampered by that issue.

[hoppyjr]

As of just now, Trump paused tariffs for 90-days because over 70 countries have contacted the USA and want to either renegotiate or have dropped tariffs altogether.

He also hit China with 125% effective immediately, as they still don’t seem to get it.

Dow currently up 2,600 points

It’s working….

[Ryeguy]

As of just now, Trump paused tariffs for 90-days because over 70 countries have contacted the USA and want to either renegotiate or have dropped tariffs altogether.

He also hit China with 125% effective immediately, as they still don’t seem to get it.

Dow currently up 2,600 points

It’s working….

Well, my investment portfolio is happy, but I don't think Marc at Long Island Watch is any happier.

[hoppyjr]

As of just now, Trump paused tariffs for 90-days because over 70 countries have contacted the USA and want to either renegotiate or have dropped tariffs altogether.

He also hit China with 125% effective immediately, as they still don’t seem to get it.

Dow currently up 2,600 points

It’s working….

Well, my investment portfolio is happy, but I don't think Marc at Long Island Watch is any happier.

I like Marc, but this is a much larger issue that any one man. The future depends on the right moves being made. I believe history will prove this to be a right move.

[DocHollidayDDS]

As of just now, Trump paused tariffs for 90-days because over 70 countries have contacted the USA and want to either renegotiate or have dropped tariffs altogether.

He also hit China with 125% effective immediately, as they still don’t seem to get it.

Dow currently up 2,600 points

It’s working….

Well, my investment portfolio is happy...

I had a buy order on AAPL that triggered yesterday when it hit $175, so I'm pretty happy today.

[Ryeguy]

As of just now, Trump paused tariffs for 90-days because over 70 countries have contacted the USA and want to either renegotiate or have dropped tariffs altogether.

He also hit China with 125% effective immediately, as they still don’t seem to get it.

Dow currently up 2,600 points

It’s working….

Well, my investment portfolio is happy, but I don't think Marc at Long Island Watch is any happier.

I like Marc, but this is a much larger issue that any one man. The future depends on the right moves being made. I believe history will prove this to be a right move.

I was just being a wise guy. I heard someone make the point earlier that Marc had built a major portion of his business on the assumption of abundant / never-ending inexpensive Chinese manufacturing.

I think the risk of that ending wasn't something he calculated for, and now his business is compromised.

If balancing the trade books with China means the end of San Martin / Tactical Frog / etc. type watches, I think that is a sacrifice I am willing to make.

[DocHollidayDDS]

If balancing the trade books with China means the end of San Martin / Tactical Frog / etc. type watches, I think that is a sacrifice I am willing to make.

Ditto.

Maybe that shrinks the hobby for a bunch of people, but as has been pointed out, there are far greater issues to think about here than the loss of affordable watch collecting, which is a decidedly first-world problem.

I was telling a friend the other day, somewhere down the road I'd rather spend money on one nice USA-made/assembled watch that cost $1500 than on five Chinese-made watches that cost $300 each. Surely there's a market for more than just RGM to be an American watchmaker? I can't be the only one who would love to see a company like Hamilton making watches here again. Whether or not Swatch Group has any interest in that prospect, remains to be seen, but I think there would be a market for it.

[hoppyjr]

If balancing the trade books with China means the end of San Martin / Tactical Frog / etc. type watches, I think that is a sacrifice I am willing to make.

Ditto.

Maybe that shrinks the hobby for a bunch of people, but as has been pointed out, there are far greater issues to think about here than the loss of affordable watch collecting, which is a decidedly first-world problem.

I was telling a friend the other day, somewhere down the road I'd rather spend money on one nice USA-made/assembled watch that cost $1500 than on five Chinese-made watches that cost $300 each. Surely there's a market for more than just RGM to be an American watchmaker? I can't be the only one who would love to see a company like Hamilton making watches here again. Whether or not Swatch Group has any interest in that prospect, remains to be seen, but I think there would be a market for it.

Shinola had a decent concept, but a shitty name, and Detroit?

Weiss does field watches well, divers not so much.

Matt G. has the USA made cases, but QC wasn’t strong. I was very hopeful he could have had the “American Sinn”

Surely someone can put it all together.

[Selym]

This might be the real reason for tariffs and it's not for bringing jobs back to America. It's a tax so he can do away with income tax only way to pull it off. Don't know if it would be cheaper to pay a tax like tariff or income tax but the tariffs might not be enough to pay for the govt. It's a possibility. It will put states in a bind if the income tax goes away the states will look like turds charging income tax and property taxes I guess a tariff will turn into a sales tax for the feds, I am so used to paying income taxes it doesn't bother me at my age it's what paid me in the Navy I am willing to pay for national security. But I guess it bothers the ones with too much money who want to keep all their money.

A tax on purchases / consumption is better than a tax on income, as you aren’t taxed on money you don’t spend.

Let’s give this time to work itself out. I suspect there are multiple motives for these moves. Keep in mind, Trump was talking about this very issue 39 years ago, so it’s not new. Democrats also have been vocal about the unfair trade practices for years too.

I think we can all agree that the most egregious of taxes is a tax on property.

You can own your house and land free and clear, but if you can't come up with the property tax, it will be taken from you...and there's no guarantee that the tax won't increase to a point where you can't afford it. This is a particular hazard for retired people on fixed incomes.

In other words, you never truly own your property. You're perpetually renting it.

[HapaHapa]

As of just now, Trump paused tariffs for 90-days because over 70 countries have contacted the USA and want to either renegotiate or have dropped tariffs altogether.

He also hit China with 125% effective immediately, as they still don’t seem to get it.

Dow currently up 2,600 points

It’s working….

Well, my investment portfolio is happy...

I had a buy order on AAPL that triggered yesterday when it hit $175, so I'm pretty happy today.

Lol same/similar here.

[hoppyjr]

This might be the real reason for tariffs and it's not for bringing jobs back to America. It's a tax so he can do away with income tax only way to pull it off. Don't know if it would be cheaper to pay a tax like tariff or income tax but the tariffs might not be enough to pay for the govt. It's a possibility. It will put states in a bind if the income tax goes away the states will look like turds charging income tax and property taxes I guess a tariff will turn into a sales tax for the feds, I am so used to paying income taxes it doesn't bother me at my age it's what paid me in the Navy I am willing to pay for national security. But I guess it bothers the ones with too much money who want to keep all their money.

A tax on purchases / consumption is better than a tax on income, as you aren’t taxed on money you don’t spend.

Let’s give this time to work itself out. I suspect there are multiple motives for these moves. Keep in mind, Trump was talking about this very issue 39 years ago, so it’s not new. Democrats also have been vocal about the unfair trade practices for years too.

I think we can all agree that the most egregious of taxes is a tax on property.

You can own your house and land free and clear, but if you can't come up with the property tax, it will be taken from you...and there's no guarantee that the tax won't increase to a point where you can't afford it. This is a particular hazard for retired people on fixed incomes.

In other words, you never truly own your property. You're perpetually renting it.

In Washington State they are removing caps that have existed to prevent excessive property tax increases. Now counties can raise property taxes at will. It will hurt people.