To answer @jeffstein.bsky.social’s question: Yes, Trump’s plan for massive tariffs would be the biggest tax hike in US history — hitting poor, working class, and middle class Americans the hardest.
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The Trump Revenge Tour will continue to come for us all, payback for the audacity to vote him out of office in 2020. The ashes of America in the wake of his scorn is just a side bonus for all his rootin' tootin' lootin' buddies
Trump's tariff's are going to damage our economy, not help it. Our technology is already behind China so protecting US corporations to make more profit without having to compete fairly is a big mistake. His tax breaks will raise the debt and increase interest rates. Musk/Trump are idiots.
If you’re not a billionaire, Trump thinks you’re a loser.
He cares not one iota about the American people. We just let a wolf into the henhouse.
Now we are surprised he is going to eat us. We are absolutely screwed at this point.
It’s almost as if Trump and his fellow doofi think Americans are going to continue the same buying habits with tariffs in place as before the costs increase by as much as 25%. They base projections on simply adding the 25% to the pile. This is how casinos go bankrupt.
Which is PRECISELY what they want. It took the fuckers four years to come up with the plan to get in our wallets and steal us blind. All because goobers were upset about the price of eggs - caused by a virus.
I recently had a conversation with the chair of the economics department of a major university. He said that he was not aware of one economist at any university that actually supports the Trump tariffs and thinks that they are a good idea. Not even one!
The BIG ISSUE is how CBO will score this BS which is a scheme to give tax breaks to people who don't need them & balloon the deficit
CBO's staff is appointed by the Director based on competence. There WERE 275 staff members, mostly economists or policy analysts with advanced degrees
Still the case?
Basically, just don't plan on buying anything but necessities this year, unless something breaks, and then look into repair costs, because they might actually make sense now.
None of this shit makes any sense. Why didn’t 2-3M more Democrats get off their butts and vote in November? Trump barely won and that makes me so mad!😡
Doubt it would be that large because it would crush the economy and people would stop buying. And just a reminder that a tariff is typically a regressive tax affecting the poor far more than the rich. I'm sure there will be a carve out for Canadian Bombardier private jets
Hey the quicker they do it the quicker we can hammer them on being incompetent turds. Only say this since the leadership of a certain party is doing zero to stop it except whine that they have no power. Can we please get a crew of replacements for the useless ones?
A car has about 20,000 parts that cross the border multiple times. 4 to 5 border crosses is about 80k-100k value adds for 2600 model trims, or a database with 260M entries. The EO states that the Customs must create process (aka giant bureaucracy) track 260M entries at the top end.
Some entries will point to the same part as parts are shared across cars. Car companies and suppliers will also have to create giant bureaucracies to stay complaint, adding to your car price.
This will stifle innovation, because changing a major component like a transmission, engine or motor will take months to get Customs approvals for every part that goes in such a complex component. Companies will resist changing parts to avoid the Customs approval penalty, like medical devices.
US car tech will stagnate, while Chinese cars that currently change every 6 months, race ahead to grab market share in the rest of the world, followed by Korean, Japanese and EU cars. In 10 years, US cars will ONLY be sold in the US at high prices and low quality, just like Soviet cars once were.
Meanwhile China, Japan and South Korea and more are expanding free trade between themselves increasing their trade and business growth while we are raising tariffs destroying our economy, raising all our prices on everything and discouraging trade.
And he can do it without any approval. 25% is the most he can do, but think that's paying 125 for what you just bought yesterday for 100. And he wants that on everything, and anything with parts fro another country
The President does not set tariff rates, Congress does. The only time the President can lawfully do it is in the interests of national security in response to price dumping. Which Trump can hardly claim.
that's a very ambitious number since it doesn't take into consideration the amount of lost trade due to tariffs...there is no certainty that any of the products coming into the US would continue to come...we are already seeing this as other nations are banding together to redirect trade
I picture the Trump administration with one of those rotating Bingo cages with ping pong balls in it so they can say "look, we don't just pull these numbers out of our ass!"
How will the US get that money? If imports stop because of punishing tariffs on them, & exports decline because of retaliatory tariffs where exactly is any money coming from? I'm just a lowly Econ. minor who once had a small import business of tariffed goods and I seem to know more. Pretty sad.
I don't get this. Our economic system is built on growth. The more and more you take from the people who have nothing, it only makes sense that the economy would contract. You can't squeeze blood from a stone. 🤷
The idea is to stop the gains that workers had since the Pandemic. People were acting their wage, working 40 hours a week and taking vacations without their work phones. The 1% cannot extract value from people that know their rights.
The idea is to make workers afraid of talking back and ask for wages and benefits. The only workers in the US with protections were Federal Employees and Elon and his Incel squad is making sure that even they can be treated like shit and not be able to so nothing about it
This time we've got tariffs + preemptive unemployment, a nervous and plummeting stock market, inflation back on the rise, we're treating all our allies like adversaries, we can't trust our own intelligence agencies to keep us safe and the WH is looking more like "Weekend at Bernie's" every day. 😳
Which is what he wants. If we are poor, uneducated and sick we'll accept whatever they hand us. Work as hard as we are told too. We will not question. Slavery! That is why they want it wiped from the history books. That way we don't know how to stop it. We will just believe it's normal.
Of course he has to get rid of 3 generations before he can truly make it work. He won't see it.Neither will the authors of Project 2025. Unless of course he sends us to concentration camps and does mass killings. Then the rest will fall in line. We have to see how the votes go. Will people vote?
I wonder how they got to that number. Seems like a paper calculation, not taking into account changing numbers of companies importing less, people buying less, sectors and businesses going bankrupt, not to mention the economic effects overall (stockmarket, inflation, jobloss).
Yes, we need to stop talking about Trump’s tax cuts and instead talk about his tax INCREASES… Tariffs are nothing more than regressive taxes which disproportionately impacts those that can least afford them.
I’m betting the tariffs get put on hold. That way he can extend the bluster & threats & get more news coverage. He’s an impudent child & needs the attention. He’s more suited to be on Romper Room than a press conference
The plan is to replace the income tax with tariffs, to benefit the rich. Econ 101 teaches that tariffs reduce, not increase, overall revenues. So the result will be the ruin of the Treasury - followed by austerity and increased taxes on the middle class. True banana republic stuff.
We poor folks won’t be buying anything so I don’t see how he can make money. We will have to save every cent to fix our car or our toilet or our roof. So no more buying anything. I’ll literally shop at thrift shops until that ass is gone. So will many others.
This is assuming people will still be buying things and all the collected tariffs won’t get used to prop up failing businesses. If manufacturing gets rehomed, they’ll take their prices up to match the tariffs. Richer billionaires, inflation, recession, job losses… and no 600 billion in collections.
The depth of dishonor of the current POTUS, VP and their minions has no bottom. They’re a stain on their families, party, communities & the United States🇺🇸. A 3rd term for a convicted felon with a lifetime of dishonor, bankruptcies and failed relationships is against the U.S. Consitution #22Amendment
Funny thing is they would have benefited more if they would have just left everything alone. I think that 1% is going to shrink to a very small number of people that will benefit in the end. A lot of people who think they're rich enough, are not.
Will actually not be that much. Will spark a recession/depression. They failed business classes… common sense. Prices rise like that, demand will fall. So they will get tariffs on zero dollars.. FFS. Idiots,
This completely disregards the extreme damage it's doing to US reputation and attitudes, the majority of us in Europe now consider the US our enemies. It might take some time to notice it, but people you wouldn't expect to are now actively avoiding american companies and products.
It looks like a grand plan for a massive transfer of wealth from the lower classes to the wealth classes. The wealthy don’t plan to add their savings from tax cuts back into the community. They never do.
Plus, it is like saying "I made $15k by selling both my kidneys on the black market. Aren't I great at making deals?" The revenue from tariffs will pale against the economic damage done to the US economy because of them.
It will also crash the economy. Transferring that much wealth from the bottom to the top will make the economy collapse from the lack of resources to fuel consumption. The wealthy and everyone else will lose everything. Reason #2067 why Trump must be removed from power immediately…
The flaw in their little plan is it's contingent on people continuing to purchase these products at roughly the same rate. Just wait until car companies are begging for bailouts after sales plummet dramatically.
Exactly. I was just trying to articulate this in my head, these numbers likely don’t include curbed spending which is certainly an effect of higher prices
How many products are actually made in America? How many products are made with components that are imported? It’s not only going to raise prices, and deter discretionary spending, it will kill American businesses.
Always the same. An economy built on growth demands that people purchase more and more. When people have less and less, the outcome seems obvious. You don't have to be an economic scholar to see this. Dumb.
Extracted by asymmetrical policies that protect wealthy interest over working Americans. Such as rescuing big Banks in 2008 instead of rescuing home owners. The result is people lose homes and the bankers give themselves bonuses.
Hump still seems to think that imposing a tariff on imports will not cost American consumers more money....of course, this is the guy who has no idea of to even grocery shop because he's never done it in his life.
People need to remember they believe in eugenics so the poor, sick, disabled, and non-whites are considered worthless & a waste of a life & they want them dead. They know they'll lose some white people through this but if they're poor white people, they're totally okay with that cuz they're poor
All out of taxpayers pockets to fund tax cuts for the rich and feeding the military industrial complex. Simply money changing pockets at the expense of working folks, the sick, the old, and the poor. We are the laughing stock and pariahs of the world thanks to the Trump crime syndicate.
He’s gutting FEMA, putting tariffs on building/construction materials, and firing everyone at NOAA just as we’re heading into the Atlantic hurricane season.
I don’t think this will be just short-term pain. Businesses don’t have a good record of lower retail prices when their wholesale supply prices go down. Many companies (if they can get away with it) will continue to enjoy higher profits in the long-term.
A tariff doesn't "charge" a country anything
It is a duty/tax levied on an imported product paid by the US importer, then passed along to the American consumer as a higher price for that product
Americans, and only Americans, will pay for tRump's tariffs
We have a dumbass leading us to doomsday
“Add” 6 trillion over 10 years… …can someone ask this moron what do we do about 1 Trillion per quarter our markets shed PRECISELY because of the “grand plan” his fucktard bosses coined? Yes, the market, the place were 🇺🇸’s invest in their future and retirement. That 401k-ish place.
The middle class will be okay, they're going to get hurt, they're not going to like it, they will become the new working poor and the disabled. What this translates to is it's going to get paid for on the backs of the working poor, disabled, and disabled veterans; classes that will no longer exist.
They keep arguing facts vs theories. We have experience with tariffs.Trump has experience with tariffs. Tariffs lead to the great depression.
None of our experiences helped our country
I don’t know about anyone else but I’m not buying shit except absolute necessities (food) from this point forward. We must put this oligarchic, terrorist regime in the toilet.
These estimates are based upon current levels of economic activity which will surely fall off once these tariffs really take hold. So just another waste of time and money.
Canadian Chamber of Commerce has developed a Tariff Tracker so people can see how, by province or state, tariffs are affecting them. It is a great tool 👇
Is there a possibility that their actions causing "short term economic pain" may have a knock on effect that leads to devastating long term economic pain?
can someone please define “short term”? I’m tired of reporters parroting that term from the administration without clarifying that it could mean YEARS. Or never for manufacturing.
The Party told you to reject the evidence of your eyes and ears. American citizens, you pay every cent of tRumps tariffs! EVERY CENT!!! #TariffsAreTaxes
It’s the largest destruction of middle class wealth ever. It’s also a money grab, Trump willing perhaps to exclude some materials American companies need if they play ball with him, pay him off, funnel monies to offshore accounts to him???
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a mad king burning down his kingdom
I just looked it up. 1861-1933 averaged 50% on foreign goods and was known as the "Restriction Period".
Will Trump go 50%+ across the board?
He cares not one iota about the American people. We just let a wolf into the henhouse.
Now we are surprised he is going to eat us. We are absolutely screwed at this point.
Спасибо!
CBO's staff is appointed by the Director based on competence. There WERE 275 staff members, mostly economists or policy analysts with advanced degrees
Still the case?
In the process we’ll shift $T out of the real economy & middle class into the financial casino where the finance & tech bros hang with the oligarchs.
Look at every single thing he does.
They all kill Americans.
People are nice though, and don't believe in monsters even when they see them killing people.
Europe and Canada are already turning their backs.
But the GOP won't let anybody interfere with him.
It’s actually not funny😤😵💫🤯😡
His base actually believed him, but we knew it was a lie.
I have a spare $5. Where can I send it to help make an impeachment happen?
He has gotten away with so many crimes & installed his goons
Thee economy will contract, and we will be in a recession
That is exactly on the horizon
because Empty Eggshell thinks Tariffs
can replace other taxes.
Do you think Trump/"GOP"
will cut YOUR taxes?
Wanna buy a bridge?
Watch Fellow Travelers to find out what happens when McCarthyism takes over again...
https://www.theguardian.com/commentisfree/2025/mar/30/just-like-mccarthy-trump-spreads-fear-everywhere-before-picking-off-his-targets?CMP=Share_iOSApp_Other
No way. He wouldn't do that. Not to ME.
*deep sigh*
But this couldn’t be further from the truth. America was popular and in demand b/c it was a good friend and ally in the past.
Now that it’s a violent arrogant idiot… #HardPass
So the figures are based on now. It's assuming Americans will keep buying at current rates.
But when the inevitable jobs losses kick in...
https://www.salon.com/2025/03/27/we-made-a-mistake-rep-bacon-suggests-limiting-presidential-tariff-powers/
And all we have to do is cut back on food by 25%.
Take stock of the boycotts and huge unemployment DOGE is creating...who do they think will be buying overpriced goods??
Every action has an equal opposite reaction!
Buckle Up❣️
Love from Canada
🤍🍁🤍
#Fightoligarchy
and USA will sit quietly bar a few thousand protestors and ignored court cases and let him do it.
especially if there’s a little kickback wink-wink to the big guy
It's a takeover attempt.
As Jon explains, it would disproportionately hit working and middle class Americans.
The bottom line is that this isn’t just a bad idea, it’s economic sabotage.
It would be one of the most reckless policies in modern history.
The day before
SS checks usually
arrive... 🤔
Anyone else think this is a problem?
$4500/year on the 131 million households in US
June 1930 (8 months later): Smoot-Hawley tariffs
1931: Food Riots, banks collapse
1933 only 1/5th of banks remained from 1930.
It is a duty/tax levied on an imported product paid by the US importer, then passed along to the American consumer as a higher price for that product
Americans, and only Americans, will pay for tRump's tariffs
We have a dumbass leading us to doomsday
Hit them where it hurts and re-prioritize all my spending
None of our experiences helped our country
I almost got thru that but we all know where any money is going
they keep talking about
is a TEN YEAR PERIOD?!
How much ya wanna bet even the people supporting this “temporary pain” thought it’d be a quarter or two? a year or two?
I’d lay even money no one thought they’d be tightening their belts into the next term much less 10 years!
That people will just pay higher prices
Not a tax though.
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Maybe Trump would like to distract from the very real special elections.
Fair. Impartial. Common Sense.
Judge Susan Crawford for Wisconsin Supreme Court April 1!
https://www.crawfordforwi.com/
They've become the opposite of everything else they claim, so why is this surprising?
That means the poor and working class get hit with a bigger % of their income.
No wonder Trump loves it.
He thinks fair means paying the same amount.
When a billionaire and a pauper pay 25% more for a $40k car, who gets financially squeezed?
Trump economics fails.
“Trump import tax”
“Trump Food Tax”
Etc.