A lot of comments here suggest people didn’t read the article. It’s pretty clear he intends to increase tarifs, and that would substitute income tax. Hey even MAGAS as demented as trump still gotta fund that war machine somehow.
As for how effective it could be? Well it’s at least interesting, as it will effectively be a 75% consumption tax on manufactured goods as a replacement. This would probably reduce consumption (great), crash manufacturing (bad), and boost white collar sectors (especially finance).
Basically this will negatively impact blue collars, and benefit white collars and the rich. Oh look, the big con continues.
And the silver lining - any negative consequences will be blamed on liberals/Democrats/THE JOOS, oops, I mean “the globalists”. What am I saying, they’ve been doing that for at least 40+ years…if you didn’t feel the glory of the golden showers of Ronnie’s trickle down economics, well, it’s because THEY took it, or THEY subverted Ronnie’s holy and virtuous plans.
Yeah, but his base thinks that China pays the tariffs because they don’t know how anything works. Hell, Trump might believe that China pays the tariffs because he doesn’t know how anything works.
A lot of comments here suggest people didn’t read the article. It’s pretty clear he intends to increase tarifs, and that would substitute income tax. Hey even MAGAS as demented as trump still gotta fund that war machine somehow.
As for how effective it could be? Well it’s at least interesting, as it will effectively be a 75% consumption tax on manufactured goods as a replacement. This would probably reduce consumption (great), crash manufacturing (bad), and boost white collar sectors (especially finance).
Basically this will negatively impact blue collars, and benefit white collars and the rich. Oh look, the big con continues.
And the silver lining - any negative consequences will be blamed on liberals/Democrats/
THE JOOS, oops, I mean “the globalists”. What am I saying, they’ve been doing that for at least 40+ years…if you didn’t feel the glory of the golden showers of Ronnie’s trickle down economics, well, it’s because THEY took it, or THEY subverted Ronnie’s holy and virtuous plans.Tariffs are a pass-through cost. This would invariably hurt the US economy.
Fucking rubes.
Yeah, but his base thinks that China pays the tariffs because they don’t know how anything works. Hell, Trump might believe that China pays the tariffs because he doesn’t know how anything works.
You spell “food” funny.
I’d expect a sudden inflation, with suddenly expanded after tax income chasing the same or reduced goods due to less imports.