Summary
Donald Trump is poised to impose massive import tariffs on goods from Canada, Mexico, and China, effectively raising taxes on U.S. households by an estimated $3,000 annually.
Unlike past tax increases that targeted the wealthy, these tariffs disproportionately impact low- and middle-income workers.
While Trump claims the measures address immigration and fentanyl concerns, experts argue they serve as a revenue source to offset tax cuts for the rich.
Critics contend that Trump’s tariffs lack a clear industrial strategy and primarily burden American consumers.
Finally someone says what it is.
TARRIFFS ARE A SALES TAX.
TARRIFFS ARE A SALES TAX.
TARRIFFS ARE A SALES TAX.And every consumer hates a sales tax.
he has such a wierd stance. he such severe lordosis from the lifts and girdle.
I think the off-center weight in his diaper fucks with his center of gravity.
To be fair, COVID-19 was also a factor in 2020
Though the orange goon’s abysmal handling of the situation didn’t help.
Most definitely
I kept saying this, and I’m glad others are realizing it.
He steamrolled tariffs because it’s a tax on the working class. He will never raise taxes for the ruling class.
At this point I think it’s just market manipulation. They are already going back on some of the tariffs.
Which ones?
Is taxing his own corporation to generate revenue also a tax on his citizens?
Edit) What I mean is, are domestic taxes less harmful than tariffs, should domestic corporate taxes also be as low as possible?
I think you’re confusing Trump’s ill-informed theory with actually theory and practice.
If foreign goods are taxed, those companies will not simply absorb the hit to their profits. They will instead increase their prices, which hurts the consumer.
You may be thinking, “then won’t consumers buy other products?” If so, you need to think a step further. Are there other products that are just as cheap? Will other companies simply raise their prices to match and take advantage of the extra profit? Are there even locally made alternatives to the product, and, if so, are they cheaper than even the tariff price?
In practice, tariffs are only effective if there are local competitors within the same price bracket, and your populace can absorb the difference in price without much pain.
https://www.usimportdata.com/blogs/top-10-us-Imports-data-by-country-product-hs-code-database Electronics, vehicles, fuels, medicines, and plastics are among our top imports. Home built vehicles are usually expensive. For example, when you think cheap, you think of a Toyota Corolla or a Honda Civic something. We know fuel is important. Medicines are not an optional cost. Plastics are part of everything. Our economy relies a lot on imports. The US shifted away from manufacturing and towards a service economy a long time ago. We don’t have a many home-built goods as we used to.
Tariffs will hurt the average citizen by corporations increasing their prices to absorb the profit losses imposed by the tariffs. There are often no comparable local alternatives, and many of these goods are not optional. Americans will pay this price. In effect, this makes it a tax on normal citizens
Personally, I like the idea of restoring local manufacturing, and I think tariffs can play a role in this… but to do so without harming citizens requires subsidizing local industry to provide cheaper homemade alternatives along with a more gradual adjustment. We would also need to reduce the cost of living in order to make lower wages livable such that the labor cost of local manufacturing is lower. But we all know that’s not happening - we desperately need wages to go up right now to make the cost of living bearable. Slapping double-digit tariffs on goods suddenly is a great way to destabilize an economy. So uh… fuck Trump.
Oh wow. One might just think you’re a taint-licking moron, and they’d be right.
Hey man, there’s no need to lump the taint lickers in with this guy.
No need to be hostile, I just hear many people pushing for taxing corporations, and it popped into my head. Why is taxing foreign companies evil but taxing domestic companies good, or are all taxes passed to consumers in the end?
It’s not hostile it’s tough love. You’re talking bullshit and they’re trying to warn others of your idiocy.
Is this supposed to make sense? Moron.
Corporate welfare must end. Welfare for billionaires must also end. That’s your tax dollars at work.
Here’s an article showing that individuals, not just corporations, get abundant welfare in the hundreds of millions.
Remember, if you see someone stealing food, no you didn’t.
critics are right
When did sabotaging your own economy become a hallmark of leadership? Asking for 300 million friends.
🐱🐱🐱🐱
He works for Putin. He’s been very successful at following his orders.
I thought DOGE saved taxpayer money. Since the cost of government spending is lower, taxes should be lowered. This Trump and Elon are scammers if taxes are not lowered.
Only if you make over 360k a year and above.
It saves it for distribution to billionaires.
The doge website is filled with shit like “We saved a million dollars by cutting a program that feeds starving babies” and I just have to laugh. One million isn’t even enough for the average person to retire on, the government is operating at a $1.7 TRILLION deficit PER YEAR.
😂😂😂 Oh boy those MAGA idiots that were complaining about inflation and thought voting for Trump would help them. 🤣🤣🤣
How’s that going for you? 🤡🤡🤡They’d cut off their nose to spite their face. As long as people they don’t like are hurting, they’ll suffer as well. They’ll probably just find a way to blame Biden or Obama again.
If I (someone who makes around $30,000 a year) owes anything CLOSE to 2 grand in federal taxes theyre gonna have to send the IRS after me to collect. 🤷 Sorry dumpy donnie.
You won’t see $2k more in Federal Income Tax, you’ll pay higher prices on store shelves (because of the tariffs the Federal government collected from the importer of the goods, which ultimately get passed on to you the consumer)
I call it “trickle down getting-fucked”
And pay $1,540 extr in actual income tax
The burden is coming in the price of goods you purchase not in a tax that is due.
Don’t worry he’s getting rid of half of the irs so there won’t be anyone to enforce tax laws.
the irs has been gutted, tehy wont be coming after you anyways.
When the IRS is under-funded, they’re less able to go after the wealthy and are left the poor who won’t be able to fight it.
Congrats, USA!
I wouldn’t be surprised if these tax hikes are imposed, then Musk/Trump issue checks with their faces that give ‘free money’ to everyone in an attempt to curry favor.
If that happens, I will turn that crap into Euros.
I’m not paying taxes for fucking musk to destroy the country.
Yes you are, lol.
You won’t be paying more taxes, directly. Things will just cost a lot more and you’ll blame foreign companies instead of senseless import taxes that you’re paying. It’s a hidden tax
Rest assured I’m only going to blame the fucking rich Nazis for this horseshit… They’re the ones that single-handedly undermined this country for their own benefit, by deceiving people too stupid to understand that up is up and down is down… There is no other country that should want to do business with the US which sucks but it isn’t their fault it’s all this shit stain and his goddamn Nazi enablers doing this.
Trump Set to Whack US Working Class With Historic $2,000 Tax Hike
They updated the article FYI.
I don’t want to give up too many secrets, but…
…the ultimate way to own Libs is to destroy the economy and raise taxes on everyone that voted for you. Ssshhhhhhh…don’t tell anyone, them Libs’ll be so pissed. ;)
“Whack”? Seriously? Jfc.
