Trump Again Claims Tariffs Will Result in Large Income Tax Cuts

[buckeye]

We all know Biden and the democrats caused inflation that got out of hand too quickly because of massive increased govt spending in an economy that was rapidly recovering from the democrat caused covid nightmare.

The Fed then rapidly raised interest rates to ward off the inflation that caused a huge increase in interest expense for US debt.

 

[Care4all]

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?

If anything ....it shifts IRS taxes to the consumers, including the very poorest, who never made enough taxable income above the standard deduction to be taxed, no?

 

[Missourian]

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

Zincwarrior

Is falling demand for imported goods necessarily a bad thing?

We are addicted to cheap shit from overseas.

Imagine money is to a country as blood is to a body.

Money that circulates inside the country carries sustenance to the cells (businesses and people) many times over. But money that flows overseas is gone at a minimum for an extended period and likely forever. It sustains and enriches other people and businesses.

The countries that blood flows to becomes stronger, and the one it flows from becomes weaker.

We are weakening ourselves in the long term to benefit in the short term...but eventually we are going to arrive at the same termination point.

Today we can stem the flow and reinvigorate the country, as we continue to be the engine of the world economy. A short term harm will pay off in a long term gain.

If we wait until our blood supply has enriched others like China, they become the engine and WE'LL become the second world nation working for peanuts to make cheap products for the Chinese.

 

[jc456]

Zincwarrior

Is falling demand for imported goods necessarily a bad thing?

We are addicted to cheap shit from overseas.

Imagine money is to a country as blood is to a body.

Money that circulates inside the country carries sustenance to the cells (businesses and people) many times over. But money that flows overseas is gone at a minimum for an extended period and likely forever. It sustains and enriches other people and businesses.

The countries that blood flows to becomes stronger, and the one it flows from becomes weaker.

We are weakening ourselves in the long term to benefit in the short term...but eventually we are going to arrive at the same termination point.

Today we can stem the flow and reinvigorate the country, as we continue to be the engine of the world economy. A short term harm will pay off in a long term gain.

If we wait until our blood supply has enriched others like China, they become the engine and WE'LL become the second world nation working for peanuts to make cheap products for the Chinese.

Dude, the fact they are arguing is confirmation of dependency

 

[Missourian]

If anything ....it shifts IRS taxes to the consumers, including the very poorest, who never made enough taxable income above the standard deduction to be taxed, no?

Everyone should pay taxes.

 

[Marener]

Zincwarrior

Is falling demand for imported goods necessarily a bad thing?

We are addicted to cheap shit from overseas.

Imagine money is to a country as blood is to a body.

Money that circulates inside the country carries sustenance to the cells (businesses and people) many times over. But money that flows overseas is gone at a minimum for an extended period and likely forever. It sustains and enriches other people and businesses.

The countries that blood flows to becomes stronger, and the one it flows from becomes weaker.

We are weakening ourselves in the long term to benefit in the short term...but eventually we are going to arrive at the same termination point.

Today we can stem the flow and reinvigorate the country, as we continue to be the engine of the world economy. A short term harm will pay off in a long term gain.

If we wait until our blood supply has enriched others like China, they become the engine and WE'LL become the second world nation working for peanuts to make cheap products for the Chinese.

Well, decreased demand is pretty bad if you're someone who sells things. The less demand, the less you sell, the less you sell the less the revenue, the less the revenue the less the profit.

Why would I be concerned about some wealth flowing out of the country when this country creates so much wealth?

 

[BluesLegend]

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.

Worse, because the Washington idiots never pay any of the debt off the low interest debt will be refinanced at higher interest rates mushrooming the annual interest on the debt.

 

[BluesLegend]

Everyone should pay taxes.

These assholes in government jobs raise taxes, gift themselves a raise, then PRETEND to pay taxes with MY money they just took out of MY wallet.

 

[leftwinger]

If anything ....it shifts IRS taxes to the consumers, including the very poorest, who never made enough taxable income above the standard deduction to be taxed, no?

True that. But after $2K-$3K rents they don't have disposable free money anyways. High earners buy & dock boats. What is the answer? Doing nothing?

It can be improved, maybe needing adjustments on-going. Poor can't live now at $3K rent near SJ CA where they are needed to work for one example.

Stop your Riots & mayhem, get on-board with those trying to save you dumb Oxyen.

 

[Marener]

We all know Biden and the democrats caused inflation that got out of hand too quickly because of massive increased govt spending in an economy that was rapidly recovering from the democrat caused covid nightmare.

The Fed then rapidly raised interest rates to ward off the inflation that caused a huge increase in interest expense for US debt.

Although spending in the Biden administration was part of the cause of inflation, it was far from the only cause.

 

[Care4all]

Everyone should pay taxes.

I disagree on income or tariff taxes. You can't get blood out of a turnip.

They already pay social security tax, which has been used by the govt for what income taxes should have been paying, to fund the govt. They pay state sales taxes, federal and state gasoline taxes, the most in state and federal cigarette taxes, liquor taxes, state income taxes in some states and Medicare taxes.....fees to get driver's licence, fishing licence, hunting licence....

Taxes are never ending in this country....

To take from those with very very little, even more with IRS or tariff taxes....is just plain wrong...Imho!

 

[leftwinger]

Well, decreased demand is pretty bad if you're someone who sells things. The less demand, the less you sell, the less you sell the less the revenue, the less the revenue the less the profit.

Why would I be concerned about some wealth flowing out of the country when this country creates so much wealth?

$38T? Yet you still chirp about wealth? They stole or wasted most of "our wealth". Time to fix it or it wiil end in a mess.

 

[postman]

our country's history?

You mean when tariffs paid the cost for our military taking over the airports in the war of 1812?

 

[Marener]

$38T? Yet you still chirp about wealth? They stole or wasted most of "our wealth". Time to fix it or it wiil end in a mess.

You're confusing federal debt with trade deficit.

 

[jc456]

You mean when tariffs paid the cost for our military taking over the airports in the war of 1812?

it means history, 1812 is history, right? When was the first income tax for the US?

 

[postman]

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!

Tariffs, if you put the on the Laffer curve, would a graph which starts out at it's peak, and diminishes to a much lower equilibrium level. Which means the income from tariffs is designed that the first year revenue, is the most it will ever bring in. And it's ultimate goal is actually to reduce tariff income to ZERO.

 

[buckeye]

Although spending in the Biden administration was part of the cause of inflation, it was far from the only cause.

It was and remains the major cause of the Biden inflation.

 

[Zincwarrior]

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

And we could not afford to purchase six sailing frigates for the Navy.

 

[postman]

$38T? Yet you still chirp about wealth? They stole or wasted most of "our wealth". Time to fix it or it wiil end in a mess.

Or it will end in a mess.

Under Trump the fix, started out in a mess.

With $5 trillion in stock market equity gone.
Our export markets in turmoil.
And the man in charge just put a 10% tariff on uninhabited islands.

 

[jknowgood]

And we could not afford to purchase six sailing frigates for the Navy.

I think we had more than 6 ships in 1913.