Trump Again Claims Tariffs Will Result in Large Income Tax Cuts

[Marener]

The tariffs are being negotiated, so are the new supply chains, so you are correct, the more that gets onshored the less tariff income there is, but that would be offset by new jobs and new income tax and a smaller trade deficit.

Since Trump claims he can eliminate income tax for low income people, the new jobs won’t add the revenues.

It’s all just magical thinking.

 

[my2¢]

The tariffs are being negotiated, so are the new supply chains, so you are correct, the more that gets onshored the less tariff income there is, but that would be offset by new jobs and new income tax and a smaller trade deficit.

I first voted in '72. Being young and naive it took me to '80 to realize how silly it was to put stock into our candidates' and leaders' pipe dreams.

 

[Missourian]

If tariffs garnered $3Tr in a year I would submit it would drive us into a deep depression and a new administration extremely quickly.

Why?

While the cost of goods from overseas would increase... The equivalent amount of money would be reintroduced into the American economy to go to work here. That money would fund American manufacturing to compete with offshore manufacturing on a more level playing field.

 

[Votto]

The Freedom Caucus needs to brutally cut spending or we are toast.

Cut spending?

This is Congress we are talking about, right?

How do you like your toast?

 

[whitehall]

Trump could have said that there are 365 days in a year and the left would find a way to say the math doesn't work.

 

[kyzr]

I first voted in '72. Being young and naive it took me to '80 to realize how silly it was to put stock into our candidates' and leaders' pipe dreams.

True. The problem now is that the $36T Debt is real, the $1T interest on that Debt is real, and the bond market skepticism and downgrades on that Debt are real. Eventually, if real solutions aren't found, the dollar will collapse, that will be very bad. So we do need real solutions ASAP.

 

[1srelluc]

He knows how to play people. Play people and screw them over is all he is good at.

Odd, I don't think nor feel that I'm being screwed over by Trump.....I certainly can't say the same thing about Congress and fed district courts.....Toss in both the RNC and DNC.

 

[22lcidw]

Who in the world is telling him that this madness is even possible?

I doubt it's Bessent. He knows better. Maybe Lutnick?

I love now you are economic intellectuals. Nothing when Joe was President wasting trillions of dollars in legislation and those two trillion-dollar deficits.

 

[Votto]

The math doesn’t come close to working out even with the rosiest of projections and we aren’t cutting 3-4 trillion in spending a year. Even if it did, wouldn’t the tariff income greatly decrease if it led to onshoring which is the stated goal?

The income tax was originally passed with the help of Evangelicals. Why did they help? It was a combined agreement to support a Prohibition amendment along with the Income tax amendment. Why did they need a Constitutional amendment for an income tax? Because a decade prior, SCOTUS ruled in unconstitutional. Why did they have to also agree for a Prohibition amendment to pass the Income tax amendment? It was because the Federal government was largely funded by taxes on alcohol, so they needed to replace the revenue with the Income tax amendment.

Once both amendments were passed, they let Prohibition fail, because they were never serious about it to begin with as bootleggers would come to the Capital itself to sell it to the Congressmen. No, Prohibition was all just a ruse to pass an Income tax amendment, which they were deadly serious about keeping. So, once they let Prohibition fail, they resumed the state collecting taxes from it as well, thus doubling their revenue.

This is how Congress works. That is why if the tariffs stay, they will in no way reduce the taxes on income, they will simply double their revenue like they always do.

 

[Marener]

Why?

While the cost of goods from overseas would increase... The equivalent amount of money would be reintroduced into the American economy to go to work here. That money would fund American manufacturing to compete with offshore manufacturing on a more level playing field.

As costs increase, demand would fall. Not to mention what happens to our export market.

 

[Zincwarrior]

Why?

While the cost of goods from overseas would increase... The equivalent amount of money would be reintroduced into the American economy to go to work here. That money would fund American manufacturing to compete with offshore manufacturing on a more level playing field.

Its literally a regressive $3Tr tax that will vapor lock trade. Its even worse in that it would drive away spending on goods and jobs related to those goods. Not to mention our own exports.

 

[leftwinger]

He knows how to play people. Play people and screw them over is all he is good at.

But your OK with Asian countries (and others) unfair trade practices over decades adding to $38T hole in American future? Get off the boards marshmallow brain.

Get $1T tariff income (ERS), $1T DOGE and presto. Poor people <$200K won't pay income tax. Boom.

 

[Votto]

I love now you are economic intellectuals. Nothing when Joe was President wasting trillions of dollars in legislation and those two trillion-dollar deficits.

The spending is beyond being out of control.

Eventually it will destroy the Republic.

 

[Zincwarrior]

True. The problem now is that the $36T Debt is real, the $1T interest on that Debt is real, and the bond market skepticism and downgrades on that Debt are real. Eventually, if real solutions aren't found, the dollar will collapse, that will be very bad. So we do need real solutions ASAP.

Except you're also going to drop in a $5Tr tax cut. This is not about deficit elimination. Its about funding the tax cut.

 

[leftwinger]

funny, they can't tell us what xiden did in four years other than allow an invasion of our country.

Actually 12 yrs of Obiden sinking US farther and farther into fiscal hopelessness. That is the plan these board Stain approve.

 

[leftwinger]

These tariffs only pay for the tax cuts for the Rich ... are you paying less in withholding tax? ... didn't think so ...

Trump is protecting the Rich, not you ... we've been fooled again ...

Lying sacks of crap. SHUP fool.

 

[kyzr]

I love now you are economic intellectuals. Nothing when Joe was President wasting trillions of dollars in legislation and those two trillion-dollar deficits.

Biden? here is what Biden did with out tax dollars:

$375B EPA slush fund handled by John Podesta gave billions to charities founded only months earlier

By Isabel Vincent The Biden administration funneled at least $20 billion dollars into environmental groups, most of which had only recently been founded, The Post has discovered. In one case, forme…

www.climatedepot.com

Administrator Zeldin Terminates Biden-Harris $20B 'Gold Bar' Grants | US EPA

EPA News Release: Administrator Zeldin Terminates Biden-Harris $20B 'Gold Bar' Grants

www.epa.gov

Zeldin EPA discovers $2 billion stashed away by Biden admin for Stacey Abrams-linked climate group

Former Georgia Democratic gubernatorial candidate Stacey Abrams was a fierce supporter of former President Joe Biden.

nypost.com

The $42 billion internet program that has connected 0 people

The federal BEAD program makes little sense with the rate of private markets providing internet access.

www.washingtonpolicy.org

DOGE: Department of Government Efficiency

DOGE: Department of Government Efficiency

doge.gov

Added up the "waste, fraud, and theft" by the Biden admin was about $600b

 

[jknowgood]

If tariffs worked and resulted in onshoring...why is he doing it again in his second term...he imposed tariffs in his first term?

You do realize our country at onetime the goverment got all its money from tariffs?

 

[leftwinger]

There is an inverse relationship between gaining all this money through tariffs and bringing manufacturing back to America. The more we import the more goes into the U.S. treasury.

Under Trump we've journeyed into a wondrous land of imagination. Next stop, the Twilight Zone!

I put my limited trust in those trying to level the playing field over the business as usual gang doing nothing but adding more to $38T. As the siphon billions from cortupt NGO rackets.

 

[leftwinger]

I first voted in '72. Being young and naive it took me to '80 to realize how silly it was to put stock into our candidates' and leaders' pipe dreams.

Yeah, people like you own the mess you've created. Wake the heck up.