So the thing about tariffs is the government gets the money. $830 x 131 million US households means Trump is extracting $108 billion from people. And what will he do with it? Obviously pass it to his oligarch friends, there’s a reason Musk is trying to take the treasury.
this post was submitted on 01 Feb 2025
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But at least we got insufficient warning to act rationally.
Tbf, we did get a warning
I never understood the steel tariff either. Without a support act to improve american manufacturing it just made prices higher....
We know exactly how these tariffs are going to work because we have history to prove it
His Tariffs combined with big >$4 TRILLION tax cuts for the wealthy are a way of dumping tax burden to the poor
Well today is the day. I'm really hoping it's been all bluff and bluster but I'm thinking there's a slim chance of that
I thought it'd be more than that. That's... Uh... Kind of tame?
Depends on if you're a paycheck away from trouble or not. Many are now...and tariffs and other effects from this admin can push many more to that point.
The source for the data is from the Tax Foundation, which is ostensibly non-partisan, but their president and CEO worked as policy staff for three different Republicans, so YMMV.
I thought so too. It probably is being reported kind of tame. It's probably worse.
Wanted to add to this as well: In 20 US states, the minimum wage is 7.25 an hour. If someone is working minimum wage, this represents almost three weeks of work- more, because of income taxes. It would represent the consumption of, like, 20% of your gross income?
So that's going to kill people, either directly or by overwork.
Needs an update for counter-tariffs, counter-sanctions, counter-counter-tariffs... and so on.
Lol, that's not right.
The tariffs combined with the gutting of FAA and musks fascist salute might just be enough for the maga cultists to leave the cult.
Methinks you give them too much credit to their ability to rationalize and think. THeir frontal lobes are smaller than their amygdala.