Overall I believe we currently import $3T year. This would mean that everyone gets to pay what would essentially be a 20% national sales tax on everything they buy. The poorest among us will be hit the hardest. This would be a horrendously regressive tax plan.
Thanks for the reply!..Im interested as I worked in the industry for many years and I never came across a European manufacturer. Lots of brands but all made in China/Vietnam. which model of rucksack have you bought?
I'm pretty sure your Osprey pack was made in either China or Vietnam, and I'm pretty sure your new one was as well.
I may well stand corrected but could you look on the labels please.
Of course your point on US firm vs Euro firm still stands and is well made. 😀
Since these number he's inventing are ultimately going to come out of Americans' pockets, then what happens after everyone goes broke? Do the rich finally pay something then, since they'd be the only ones left with any money?
Don't know where this think this $600 billion is coming from… they won't even make it through the first year with the economy crashed from all the tariffs… be lucky to collect $6 billion.
What country would go along with this tariff bs for ten years? China, Japan and South Korea already planning to work together to tell the US to F off. 10 years??? How dumb are these ding dongs?
Exactly. It’s a regressive tax. Look, if they want to try the historically bad effects at taxing purchases and lowering income tax they can. But at least they should be real about it. This is targeted sales taxes, plain and simple.
The phrase "couldn't care less" sorta defines this entire administration. Economy in the toilet? Couldn't care less. Everyone in the world hates us? Couldn't care less. Massive security failure that put our fliers at risk? Couldn't care less. Kids getting measles? Couldn't care less 🤦🏽♂️
One of the biggest tax hikes in history and it will paid for overwhelmingly by the working class. All so the billionaire oligarchs can get more tax cuts.
All the money Trump looks to collect goes to the Office of Budget and Management discretionary funds — which I’m sure Trump is exercising control over. Will he use the funds to cover the damages his tariffs did like first term, or just pocket it for himself?
However, the legacy media will not refer to it as such. They will cheerfully deduct tariffs from their reported prices, just to make sure that their reporting is double-plus good.
@bsky.app please create something besides a heart …. I don’t want to hear this I want a 😡✊🏽 this tax to the poor while letting the billionaires get richer !
Doing the math on that, it's over $3,200 per working citizen per year in additional costs. That they'd have to eat. Assuming working Americans don't just simply avoid buying the tariffed items. (Which may be largely inescapable.)
It's hard to believe that an institution of higher learning even more prestigious than The Wharton School is gone. But, like the guy wrote, "Everything Trump Touches Dies."
What the average person fails to see, it seems, is the tariffs are a way to fund the government at the same time as they are rating the coffers for the ultra rich!
As any savvy person knows, the people who buy the products are the ones who pay the tariffs!
They won't. They will look for other trading partners. The United States is not friends with anyone anymore and it's not just Canada that is turning away, more will do the same.
Suburban White Women are to blame for this. They got suckered back into believing Trump is a good guy and better for the economy than a Black/Indian Woman who was a prosecutor, Senator and Vice President. They are to blame for this mess
Not this one. Neither time
Unfortunately I am in Maga land. I can't get through to these people. I think they're really going to have to suffer before they figure it out.
So all these imported goods tariff increases will raise $600 billion for the US treasury.
As the tariffs will also be passed onto the consumer, they'll be charged $600 billion more ++
As the tariffs will be percentage-based on cost, they'll pay more than the $600 billion.
This is entirely dependent on Americans' buying habits, so, no, with people losing jobs and costs of goods and rents and loans rising, they won't be purchasing anywhere near the dollar value of stuff to generate anywhere near this amount. Stupid, stupid, stupid Stain and his Gang.
Hmm it's almost as if he doesn't care how it will hurt Americans and their trade partners, but Elon's child gang are ready to 'misplace' it all from the treasury.
Tariffs act as a regressive tax. Means they hurt lower income people harder than upper. Virtually all purchases will be impacted. Lower the income, the less discretionary spending available (if any). Higher costs via tariffs squeezes available funds. Lower income households bear more pain. Yay MAGA.
Who is going to buy all these overpriced goods? With the hikes in material costs, businesses will suppress labor costs. Disposable income will shrink. You don't have to be an economist to figure out the end of the story.
It would be one of the times Trump was noted as being the biggest at anything. So far though, Trump being the biggest at something is always a bad something.
Paired with a massive tax cut for the wealthiest Americans (which is being funded partially through the evisceration of critical services used by most Americans)
And the ones who are paying for that tax are the non-wealthy, non-rich. As long as the rich & wealthy don't pay that tax, what do they care about the middle class, the working class, and the poor!
Trump's big idea is "I'd like to buy these things from another country but I would like to pay more for them than what they actually sell for". It's like the Trump government wants a tip from the lowly American taxpayers on the goods you buy from others.
Essentially, it is increasing import taxes by 900%.
Which American companies will blame for them hiking their prices even further, so they can reap even greater shareholder and CEO profits like they did during covid...
All at the expense of regular Americans.
Meanwhile billionaire tax cuts continue.
He will ultimately run out of good trading partners. As time goes on, we "other" countries are quickly finding new trading partners to have "real" relationships with. We in Canada are saddened. We thought y'all loved us. ❤😞
It won't be raising taxes, it will be shifting them onto the working class. Giant upper class tax breaks will offset what the working class will pay in tariffs.
Trump's going to raise that money just he was going to lower grocery prices, end the Ukraine war in 24hrs and build a wall at the Mexican border. He's a chronic liar.
Businesses have to order those imports first, then tariffs are collected based on those orders. If businesses don’t want the stuff and neither do consumers - then no money flows into government coffers. This isn’t really a “winning” economic idea, if you ask me.
What Trump and his team aren't taking in to account (because he still thinks this is paid by other countries) is most of this won't see the light of day.
I'm not buying a new anything unless I absolutely have to buy it. Full stop. Consumer confidence? Nah. Consumer rejection.
For the tariffs to do that would mean the tariffs completely failed to force companies to move factories back to the United States. Because Trump openly states if the move back, there will be no tariffs: no revenue. He's literally admitting one of the stated goals of the tariffs is going to fail.
The Penn Univ should be ashamed for graduating Trump from their Wharton School of Economics program. It has been painfully clearr that T has no clue about tariffs other than how to spell it. His understanding of economics gets a “F” grade from any school.
Maga, you bought into his “knowledge”. Sad.
I find it hillarious that his own voters don't seem to understand that those are their own money.
I wonder what they will be used for. More contracts for Elon?
Comments
“Tariffs will pay for EVERYTHING, and China will pay for them!”
https://allegro.pl/oferta/plecak-turystyczny-wolfgang-wloczykij-24-l-cordura-7417578362?srsltid=AfmBOoorB3mlQcp6X1Z74evrcMLn3BWDRIJT5-RaS2wLcuFUZtJxlRi_
I may well stand corrected but could you look on the labels please.
Of course your point on US firm vs Euro firm still stands and is well made. 😀
Using the quantitative definition of great - What MAGA dreams are made of.
As any savvy person knows, the people who buy the products are the ones who pay the tariffs!
Unfortunately I am in Maga land. I can't get through to these people. I think they're really going to have to suffer before they figure it out.
As the tariffs will also be passed onto the consumer, they'll be charged $600 billion more ++
As the tariffs will be percentage-based on cost, they'll pay more than the $600 billion.
It's just a win, win, win. Unless you have to buy stuff. You know, to live.
That's $600B taken out of the economy. $600B that cannot be spent on food, shelter, clothing, movies, appliances, etc.
Massive redistribution of wealth. Massive impoverisment to follow.
Populism!!!
Fuck you Trump and MAGAts everywhere.
Which American companies will blame for them hiking their prices even further, so they can reap even greater shareholder and CEO profits like they did during covid...
All at the expense of regular Americans.
Meanwhile billionaire tax cuts continue.
Congress has abdicated its responsibilities.
Family of 4: $6,800
Mega family of 10: $17,000
I'm not buying a new anything unless I absolutely have to buy it. Full stop. Consumer confidence? Nah. Consumer rejection.
FDT.
"... and who's going to pay for it?"
"MEXICO!"
When the wall, I mean tariff revenue, never appears he'll just move onto the next outrage and his votes will forget.
How much did you win?
Bundle it up and send it all in.
Maga, you bought into his “knowledge”. Sad.
I wonder what they will be used for. More contracts for Elon?