Rich people, in the form of massive tax cuts
this post was submitted on 05 Mar 2025
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"then what's all the cuts to medicaid and snap and other benefits and programs going to?"
more tax cuts for the rich.
"how about all the other 'savings' from 'doge'?"
more tax cuts for the rich.
"then why is the deficit still growing by billions and billions?"
more tax cuts for the rich.
"when is it our turn?"
never!
Not to mention Melon Husk is VERY disingenuous about how much money he's supposedly saving
I don't like this TV show. Change the channel! The show is so depressing that I don't want to watch. I mean, can you imagine living that way? It would be infuriating!
This. It sounds like a cynical answer, but it's ultimately the correct and most concise one.
So, on import of whatever, the bill is still $xxx but there's an extra tax line for 25% that adds on top and goes to the government. Now they build a car with that and the car is now ~25% more expensive. The customer pays the +25% for the car.
Government doesn't need to collect as much tax from people who make over $1,000,000 because they got 25% from that import and so its a tax cut.
Is my smooth brain correct?
The rich when tax cuts go into effect. It's always been a mass transfer of wealth and the plan from the beginning. It's why we always knew any bargaining was bull.
The US government, that's how import tariffs work.
The last round of tariffs were paid almost uniformly and directly to large farming conglomerates to keep them silent on the matter. The amount actually left over after paying farmers wasn't much, certainly not enough to cover the damage it did in other industries. There's no doubt in my mind that it will be turned into a market manipulation scheme wherein they will invest in the subsidized markets after buying stocks in the relevant corporations once the market settles to its new low state.
I wonder if it will tie into their new strategy to buy crypto reserves which only make sense if they are going to skim it.
Having a crypto reserve makes sense if you plan on tanking the economy and US dollar for profit.
Or if you personally own a lot of crypto and are looking to manipulate the market.
The cool part is you can double and triple dip. Buy bitcoin, promise to make a US Crypto reserve, sell it during the boon, make your own memecoin and profit off that as well
Then maybe do it again when you maybe waste money on a Crypto reserve
It's a form of taxation so the government collects it. When a good is imported, 25% of the value of that good needs to be paid by the buyer to the government. My understanding.
That is also my understanding as someone who regularly checks to make sure my boss paid the tariff on the stuff we import. Containers are not removed from ships until you have proven the tariff has been paid.
Elon.
Remember everyone. View tariffs as kind of a federal sales tax. Sales tax typically affect lower classes more than upper classes. It will also compete with other sales taxes at other government levels. Those smaller governments rely on it more than the federal government.
Meaning, to grossly oversimplify, this will ultimately cost more for people with less wealth, and it will degrade your local governments ability to provide services due to less income.
To answer OP's question. They already have plans to pass more tax cuts for the rich (federally). That money has to come from elsewhere. This is one form of the elsewhere.
Tariffs are just a way to raise taxes and blame someone else for them
Well the US collects taxes and a tariff is a tax so yeah, it will generate funds to run the government. I think this is why Trump likes them. He sees a huge influx in the taxes collected. Plus his followers are so stupid they think China/Canada/Mexico is paying them. Win/win for him. No wonder he thinks it's the greatest word in the dictionary.
The best way to lower inflation is to pull excess cash out of circulation. It's a correction for the cash influx that we saw through the COVID relief funds.
It's not a popular choice, but pulling cash out of circulation is necessary to reduce inflation.