In an income based tax system the majority of the tax revenue comes from wealthy people.
In a tariff based tax system that majority of revenue shifts to the middle class
Who does Trump care about? Of course l. Do you see why Trump loves tariffs?
How many billionaires are publicly speaking out against these Tariffs today? None.
Trump just instituted the largest tax hike in history while he plans further tax cuts for people that make over 650,000. It is really the first step in a seismic tax shift onto the middle class.
The senate just headslammed DJT the first. That's good. The House won't touch this, not even with the holy m'aga flagpole their people used to bash in the heads of capitol police, but good on a few R senators to buck the king.
🚨 MAJOR BREAKING: In a devastating loss for Donald Trump, the Senate has just voted to CANCEL Trump's tariffs on Canada by a vote of 51-48. FOUR Republicans voted for the measure: Lisa Murkowski, Mitch McConnell, Rand Paul, Susan Collins.
This post was edited 51 seconds after it was posted.
The senate just headslammed DJT the first. That's good. The House won't touch this, not even with the holy m'aga flagpole their people used to bash in the heads of capitol police, but good on a few R senators to buck the king.
🚨 MAJOR BREAKING: In a devastating loss for Donald Trump, the Senate has just voted to CANCEL Trump's tariffs on Canada by a vote of 51-48. FOUR Republicans voted for the measure: Lisa Murkowski, Mitch McConnell, Rand Paul, Susan Collins.
Good. We shouldn’t have tariffs on our 51st state.
The senate just headslammed DJT the first. That's good. The House won't touch this, not even with the holy m'aga flagpole their people used to bash in the heads of capitol police, but good on a few R senators to buck the king.
🚨 MAJOR BREAKING: In a devastating loss for Donald Trump, the Senate has just voted to CANCEL Trump's tariffs on Canada by a vote of 51-48. FOUR Republicans voted for the measure: Lisa Murkowski, Mitch McConnell, Rand Paul, Susan Collins.
Tariffs on Australia is 10%, but on an Australian Territory, Norfolk Island, population 2,200 and exports to USA of under $300K, he has slapped 29%. I wonder if they know where Norfolk Island is? Are they confusing it with Norfolk in the UK perhaps?
biden wasn't give autocratic ability to change the economic course of the nation all by his lonesome, without congress. and if he had been given that, he wouldn't have used it.
the problem here is that trump is bypassing congress to do terrible things to us, in the name of phony national emergencies.
congress wouldn't agree to any crazy biden plan and it wouldn't have agreed to this crazy trump plan either.
this is all on you idiots for voting for this. And on congress for handing over the government to a moran.
Well, there is obviously a HUGE difference. Biden is not an economist. Trump is, and perhaps the goat. Wharton. Top of his class. So, nobody on this site should be talking economic policy. The big dog is all over it.
As has been shown repeatedly on this board, President Trump was *not* at the top of his class at Wharton, though he did graduate.
I have to think this poster is a troll. Well played.
Speaking of Trump being an absolute moron and his cabinet too cowardly to challenge him
Trump has imposed a 10% tariff on goods coming from the Heard and McDonald Islands, an Australian territory which lies in between Madagascar and Antarctica. Why is that incredible? Because the Heard and McDonald Islands are uninhabited.
And
Indonesia imposes tariffs on coffee imports, which seems to have prompted Trump to put 32% across the board tariffs on all goods coming from Indonesia. But as author James Surowiecki pointed out on X, the U.S. exports no coffee to Indonesia,
...and 10% on Australia, yet USA exports much more to Australia than we do to them, plus we can cancel the multibillion $ AUKUS submarines deal.
yet another Trump Uni of Economics gem
And we already have a free trade agreement that is massively skewed in favour of the US. Definitely the art of some kind of deal.
And our PM has publicly stated 'these are not the actions of a friend'. Given our propensity for being overly diplomatic, that's as close to saying 'get f**cked USA' as you'll ever here.
A hundred years or so of goodwill gone in, what is it, 2 months?
Do you not realize that "a giant amount of revenue for our government" equals "a giant tax increase for you and me"?
(assumes that you reside in the US)
Again, it will not be fully paid my you and me, but a lot will get absorbed by the market. Also, I’d rather pay tax on consumption than income.
The other side is reducing waste and fraud. I’ve never liked taxes, because I always assumed they were being wasted. If we can minimize the waste, the extra tax on consumption is reasonable.
I’m not saying this is going to be seamless or that the government will be a well oiled machine, but I think it only needs to be marginally better.
What is your solution for the tackling the $36.7T debt? We are now spending more on interest than we are on defense.
Who is this market to whom you refer? Near as I can tell, the market is you and me (and the rest of us Americans).
in the long run, I think it will work … I don’t care what the experts say
Well, if that wasn't patently obvious 😂 Listen, I love Americans, and have met many wonderful people of all political persuasions, but you guys are just so unbelievably f**ked, it's difficult to put into words just how insane it is. Just as well you've got the 'greatest country on earth', because you're going to be doing it by yourself from now on.
Well, there is obviously a HUGE difference. Biden is not an economist. Trump is, and perhaps the goat. Wharton. Top of his class. So, nobody on this site should be talking economic policy. The big dog is all over it.
As has been shown repeatedly on this board, President Trump was *not* at the top of his class at Wharton, though he did graduate.
I have to think this poster is a troll. Well played.
Either he failed macroeconomics or he cheated. Possibly both given his penchant for being a liar.
