- cross-posted to:
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- cross-posted to:
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- [email protected]
Summary
Donald Trump is poised to impose massive import tariffs on goods from Canada, Mexico, and China, effectively raising taxes on U.S. households by an estimated $3,000 annually.
Unlike past tax increases that targeted the wealthy, these tariffs disproportionately impact low- and middle-income workers.
While Trump claims the measures address immigration and fentanyl concerns, experts argue they serve as a revenue source to offset tax cuts for the rich.
Critics contend that Trump’s tariffs lack a clear industrial strategy and primarily burden American consumers.
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critics are right
They aren’t ours, so give to a good cause. I know many will say that we should use for our own citizens, but this is effectively free aid to Ukraine and underpins a block to Russia’s strategic expansion.
Congrats, USA!
Finally someone says what it is.
TARRIFFS ARE A SALES TAX.
TARRIFFS ARE A SALES TAX.
TARRIFFS ARE A SALES TAX.And every consumer hates a sales tax.
Trump Set to Whack US Working Class With Historic $2,000 Tax Hike
They updated the article FYI.
I recently updated my W4 to have a stupidly high deduction so I pay almost no federal taxes.
I fully realize I’ll owe this (and maybe penalties) later, but that’s a future me problem and, frankly, I plan to delay, deny, and dispose (of the IRS letters) as long as I can without something like jail time.
I wouldn’t be surprised if these tax hikes are imposed, then Musk/Trump issue checks with their faces that give ‘free money’ to everyone in an attempt to curry favor.
If that happens, I will turn that crap into Euros.
“Whack”? Seriously? Jfc.
I kept saying this, and I’m glad others are realizing it.
He steamrolled tariffs because it’s a tax on the working class. He will never raise taxes for the ruling class.
At this point I think it’s just market manipulation. They are already going back on some of the tariffs.
Which ones?
Is taxing his own corporation to generate revenue also a tax on his citizens?
I think you’re confusing Trump’s ill-informed theory with actually theory and practice.
If foreign goods are taxed, those companies will not simply absorb the hit to their profits. They will instead increase their prices, which hurts the consumer.
You may be thinking, “then won’t consumers buy other products?” If so, you need to think a step further. Are there other products that are just as cheap? Will other companies simply raise their prices to match and take advantage of the extra profit? Are there even locally made alternatives to the product, and, if so, are they cheaper than even the tariff price?
In practice, tariffs are only effective if there are local competitors within the same price bracket, and your populace can absorb the difference in price without much pain.
https://www.usimportdata.com/blogs/top-10-us-Imports-data-by-country-product-hs-code-database Electronics, vehicles, fuels, medicines, and plastics are among our top imports. Home built vehicles are usually expensive. For example, when you think cheap, you think of a Toyota Corolla or a Honda Civic something. We know fuel is important. Medicines are not an optional cost. Plastics are part of everything. Our economy relies a lot on imports. The US shifted away from manufacturing and towards a service economy a long time ago. We don’t have a many home-built goods as we used to.
Tariffs will hurt the average citizen by corporations increasing their prices to absorb the profit losses imposed by the tariffs. There are often no comparable local alternatives, and many of these goods are not optional. Americans will pay this price. In effect, this makes it a tax on normal citizens
Personally, I like the idea of restoring local manufacturing, and I think tariffs can play a role in this… but to do so without harming citizens requires subsidizing local industry to provide cheaper homemade alternatives along with a more gradual adjustment. We would also need to reduce the cost of living in order to make lower wages livable such that the labor cost of local manufacturing is lower. But we all know that’s not happening - we desperately need wages to go up right now to make the cost of living bearable. Slapping double-digit tariffs on goods suddenly is a great way to destabilize an economy. So uh… fuck Trump.
Corporate welfare must end. Welfare for billionaires must also end. That’s your tax dollars at work.
Here’s an article showing that individuals, not just corporations, get abundant welfare in the hundreds of millions.
Is this supposed to make sense? Moron.
Oh wow. One might just think you’re a taint-licking moron, and they’d be right.
No need to be hostile, I just hear many people pushing for taxing corporations, and it popped into my head. Why is taxing foreign companies evil but taxing domestic companies good, or are all taxes passed to consumers in the end?
It’s not hostile it’s tough love. You’re talking bullshit and they’re trying to warn others of your idiocy.
Hey man, there’s no need to lump the taint lickers in with this guy.
Calling it a “tax increase” when it’s not is kind of infuriating because it just muddies the conversation. Comparing it to a tax increase is fine but saying it’s “effectively” one is worse than useless - it either confuses people, gives them the wrong idea, or gives them an easy out to say it’s bullshit.
I hate when my side does stuff like this.
Tarrifs are a tax, they are going up, and it’s a sales tax which are commonly regressive (hit lower income families more).
You’re saying a tariff doesn’t count as a tax because it gets hidden in the final price of goods?
Maybe corporate America will tack on a “tariff fee” like those bs restaurant service fees to tell consumers it’s not their fault.
I’m saying people are going to look for this tax increase they heard about and not find it on their paycheck.
Feel free to tell me the downside of being accurate here.
It would be accurate to call a tariff what it is: a tax. Maybe the downside is ostrich-heads won’t be able to bury their heads in the sand and pretend it’s not a tax.
People are very used to paying taxes that don’t show up on their pay statement. Things like sales tax, property tax.
A tariff is a sales tax, pure and simple. Sales taxes hit lower income people harder than the rich because they have to put a higher percentage of their income into it.
I agree, but framing it like this just gives the other side an opportunity to call bullshit.
Why give them the ammo?
Why craft your message with the primary goal of not angering a bunch of snowflakes who are going to attack you literally no matter what you say. We’re up against people that think wearing a tan suit is a newsworthy scandal and electing a rapist is fine. Or do you need me to say “found civilly liable for sexual assault but never criminally convicted of rape”?
Because any rational person is going to immediately assume you’re talking about directly raising taxes, not indirectly like this.
Trying to conflate the two makes it appear as though you’re trying to trick your audience. It’s not a good look and we can be better than that.
No average person says “my taxes went up $3000 this year!” referring to anything other than their income tax.
This is the exact water muddying I mentioned. Call things what they are and explain what they mean.
There is zero downside to explaining it correctly:
“Trump’s newest round of tariffs are projected to cost the average citizen $3000 per year”
Same power without the bullshitting. And you don’t have someone looking at their paycheck wondering if it’s taken effect yet.
Nobody is saying that tariffs are income taxes, but I pay a bunch of taxes each year that are not income taxes. I have sales taxes at stores, property taxes a couple times a year, and hidden ones like gas taxes. Now we are going to pay more import taxes so that the ultra rich don’t have to pay as much capital gains. To call them anything else is lying to yourself.
Tell me how telling people their taxes are going to go up $3000 is better than explaining that the tariffs will cause their yearly goods expenses to go up by the same.
This article is for the layman, not someone who understands tariffs. And instead of explaining that, it says “it’s basically the same thing as your taxes going up!”
If I (someone who makes around $30,000 a year) owes anything CLOSE to 2 grand in federal taxes theyre gonna have to send the IRS after me to collect. 🤷 Sorry dumpy donnie.
The burden is coming in the price of goods you purchase not in a tax that is due.
the irs has been gutted, tehy wont be coming after you anyways.
When the IRS is under-funded, they’re less able to go after the wealthy and are left the poor who won’t be able to fight it.
Don’t worry he’s getting rid of half of the irs so there won’t be anyone to enforce tax laws.
You won’t see $2k more in Federal Income Tax, you’ll pay higher prices on store shelves (because of the tariffs the Federal government collected from the importer of the goods, which ultimately get passed on to you the consumer)
I call it “trickle down getting-fucked”
And pay $1,540 extr in actual income tax
I’m not paying taxes for fucking musk to destroy the country.
Yes you are, lol.
You won’t be paying more taxes, directly. Things will just cost a lot more and you’ll blame foreign companies instead of senseless import taxes that you’re paying. It’s a hidden tax
Rest assured I’m only going to blame the fucking rich Nazis for this horseshit… They’re the ones that single-handedly undermined this country for their own benefit, by deceiving people too stupid to understand that up is up and down is down… There is no other country that should want to do business with the US which sucks but it isn’t their fault it’s all this shit stain and his goddamn Nazi enablers doing this.
he has such a wierd stance. he such severe lordosis from the lifts and girdle.
I think the off-center weight in his diaper fucks with his center of gravity.
To be fair, COVID-19 was also a factor in 2020
Though the orange goon’s abysmal handling of the situation didn’t help.
Most definitely
This went into effect today.
I don’t want to give up too many secrets, but…
…the ultimate way to own Libs is to destroy the economy and raise taxes on everyone that voted for you. Ssshhhhhhh…don’t tell anyone, they’ll be so pissed. ;)
