Trump’s tariffs are equivalent to one of the largest tax increases in decades

[McRocket]

And these tariffs ARE like tax increases. All tariffs ARE is a tax.

When Trump lowered taxes the Left screamed their heads off claiming he was going to starve the government of money! Raise the debt!

Raising taxes pays the government and helps pay down the debt.

So you are complaining Trump is paying down our debt.

Trump is doing a good thing for America and still you complain.

Will you make it to 2025 when Trump's finally out of office?

What if Pence replaces him? Will you jump off your house?

You say you want to serve your country, there might be a good place to start.

A man who complains if Trump lowers taxes and complains when Trump raises taxes isn't long for this world.

Show me a post where I even ONCE called for the raising of taxes? You will not be able to because I NEVER HAVE typed one.

The proper AND ONLY WAY I WILL AGREE WITH (unless a major, declared war is ongoing) cutting the deficit is through SPENDING CUTS.

Raising taxes (during peacetime) to cut the deficit is ALWAYS WRONG.

Got it now grampa?



I am no saint on here.

But at least I try and post facts.

All you seem to do is spew forth bile and tell everyone how great you are.

You must be one unhappy person.


Good day.

 

[DustyInfinity]

I hope tariff critics don't forget that China isn't our only trading partner. We aren't chained to China or their slave labor. While reviving American Manufacturing is a plus, we can also purchase goods from countries who let us in to their markets as well.

 

[iamwhatiseem]

Hilarious to see how quickly the clueless fall for the "hysteria machine" loosed by Wall Street/Investment Banks etc.
These morons don't understand that WE the middle class have been raked over the coals the past 40 years as job after job after job is outsourced to China...all in order for the elite investor class to make $billions off of Chinese slave labor.
BUT WAIT.... it's Trump doing it...SO...IT MUST BE VERY, VERY BAD!!!!!!!!!

If a homeless 3rd worlder took your job then you're pathetic and need to learn a better skill

Try again loser boy... I am doing fine.
But good to see, again, that the Democrat party forgot the very people they are supposed to be for.
Just keep talking like this and it will be more than the industrial midwest that votes Republican

 

[Norman]

'President Donald Trump, having championed one of the larger tax cuts in recent years, has now enacted tariffs equivalent to one of the largest tax increases in decades.

A CNBC analysis of data from the Treasury Department ranks the combined $72 billion in revenue from all the president’s tariffs as one of the biggest tax increases since 1993. In fact, the tariff revenue ranks as the largest increase as a percent of GDP since 1993 when compared with the first year of all the revenue measures enacted since then, according to the data.


Only the revenue raised in the fourth year of the Affordable Care Act is greater, but not by much.

The nonpartisan Tax Foundation estimates all the tariffs enacted by the president, including the latest increase from 10% to 25% on $200 billion on Chinese goods, will raise $72 billion in revenue, equal to 0.34% of U.S. gross domestic product. Revenue raised in the first year of the 1993 budget and reconciliation act equaled 0.36% of GDP.

“It’s certainly not the largest tax increase in history but it does rank among some of the bigger tax proposals over the last 20 years that have raised revenues,″ said Kyle Pomerleau, chief economist with the Tax Foundation.

The revenue raised from the tariffs is more than the tax increases from the first three years of the Obama administration’s ACA, according to the Treasury data. Only in year four of the ACA, when revenue rose by an estimated 0.46% of GDP, did it raise more than the estimate from Trump’s tariffs.'

Trump's tariffs are equivalent to one of the largest tax increases in decades


And yet Trump still insists - 100% incorrectly - that the Chinese will pay much of the tariffs.

What a moron he is.

ORANGE MAN BAD!!!! ORANGE MAN BAD!!!! ORANGE MAN BAD!!!

Try again.

 

[iamwhatiseem]

If Obama did this, the media and Democrats would be hailing this and a great move for middle America.
But, Obama would never do this. Corporatist wouldn't dream of it, he was tied to Wall Street;s apron strings tight.