Trump wants to eliminate income tax, but replace it with tariffs on imported goods.

[Marener]

This is such a colossally stupid idea.

 

[justoffal]

By 18 billion dollars. Not by 5000 billion dollars necessary to cover what income tax brought in.

You don't seem to understand the scale of the tariffs necessary to compensate for the loss of income tax revenue.

Orders of magnitude, Canadian.

And we'd have to do it to you too. At least 200% of ANYTHING you ship to us. Any product, any commodity. We're you're number one trading partner. And we'd have to fuck you too. And ourselves, of course.

Our economies would burn together.

I don't agree with the tariffs They have a propensity to boomerang. I do however agree with eliminating payroll taxes and simply going over to a 100% consumption tax. It's time to stop whining about how successful people have more money than unsuccessful ones.
Everyone needs skin in the game even the illegal aliens who come here.

 

[BlindBoo]

Such a thing can only be enacted by Congress, not the Executive. "The Congress shall have power to lay and collect taxes on incomes, ......"

A nice whistle for the Dog and Pony show.

 

[justoffal]

That's another part of Trump's plan that is so spectacularly bad.

We saw a worldwide inflationary spike in 2021/22 as the world economy started back up after COVID. There are only two major ways government can combat inflationary spikes.

The first is draconian government spending cuts. Double digit reductions annually. That's not happening under Biden or Trump.

The second is increases in the Fed Funds rate. Both have the effect of constricting money supply. Reagan knew this. Thatcher knew this. Which is why they both made massive increases to the fed funds rate (or the UK equivalent) to slow their economies. They are generally regarded as having overdone it, with a fed funds rate peaking at over 13%. But when the US economy started back up, inflation was under control.

Biden and Powell have taken a much more measured approach, increasing the fed funds to about 5.5%. It has the impact of slowly reducing inflation without sending us into a recession. The results have been solid. Our economy is leading the world at the moment.

Our inflation NOW is lower than Reagan's inflation rate AFTER the US economy came out of the 81-82 recession. With 1983 seeing an inflation rate of 3.8% (down from a peak of 12.5 in 1980). And our inflation rate today at 3.3%.

Trump's proposal....is to massively CUT the the fed funds rate. Which would fuel a SPIKE in inflation. Not a reduction.

I'm going to have to agree with this.

 

[Slade3200]

Do you have reading comprehension issues?

No, not a bidenomics supporter. Are you?

Well his plan would certainly make the price of goods skyrocket… aka inflation. So you saying it sounds good makes no sense unless you’re a fan of inflation. Please clarify your stance

 

[Mac-7]

I love bad ideas! I want 133% tariffs and to nuke hurricanes while mixing beer with liquor.

You love lies if they allow you to bash trump

 

[citygator]

You love lies if they allow you to bash trump

I noticed you didnt dispute the tariff comment. Bad idea.

 

[progressive hunter]

Income tax is better for the working classes.

Sales tax is worse for the working classes.

can you explain how??

I can avoid most sales tax by growing my own food and making my own stuff

 

[progressive hunter]

How much money does the US make from exporting?

A lot. That's be a lot of jobs going out the window.

Look at the UK leaving the EU. Something like $10,000 per year lost PER PERSON.

I dont believe you,,

 

[leftwinger]

Things are not good now $34T yet the STAIN bark at any thinking "outside the box". Maybe it will lead to something better?

Pound sand you worthless holler monkeys.

 

[citygator]

I don't agree with the tariffs They have a propensity to boomerang. I do however agree with eliminating payroll taxes and simply going over to a 100% consumption tax. It's time to stop whining about how successful people have more money than unsuccessful ones.
Everyone needs skin in the game even the illegal aliens who come here.

Then why do you fuckers complain about inflation? It's just a consumption tax for profits. You are all loons.

 

[Mac-7]

In 2022, the US exported $200 billion worth of goods to China. That would dry out very quickly. Are you ready to pay 150-200% more on everything imported from China? And that is not just finished goods. There are Chinese made components in US manufactured goods as well.

Blanket tariffs are a spectacularly bad idea. But the sound bite of eliminating income tax will reel in the people who don't understand the ramifications. And when elected and he does nothing about it, he'll just blame Congress. Never his fault.

We bought $650 billion from china

Who has the most to lose in a trade war?

During the wuflu pandemic a senior offical in china said that if we dont mind our manners and continue blaming them for the virus china could cut off essential drugs that Americans rely on

Can you think of anything worse that that?

If so it wont be having to pay more for a flat screen tv at Best Buy

 

[progressive hunter]

Then why do you fuckers complain about inflation? It's just a consumption tax for profits. You are all loons.

I thought we didnt have inflation,,

now youre saying its a good thing??

 

[citygator]

I thought we didnt have inflation,,

now youre saying its a good thing??

He was arguing for a tax that works exactly like inflation. Feel free to stay on point. The GOP falls apart when they try to talk about affordability for the working class because all their ideas, like Trump's Tariffs, and Justoffal's consumption tax, reflect their real opinion which is that the working class has too much money and isnt paying enough to the country.

 

[Mac-7]

This policy would cause inflation to skyrocket.

Why are you guys always supporting such pro-inflation policies?

You mean worse than it is now under biden?

I dont claim to be an expert on trade or economics

So I take the warnings of the pathologically driven trump haters seriously

But try this on for size,

If the communists invade the free people of Taiwan we will have respond or see all of east asia become vassal state of communist china

If that happens our comfortable life in America will go up in smoke anyway

 

[Mac-7]

I noticed you didnt dispute the tariff comment. Bad idea.

Somewhere on this thread I have already acknowledged that the tariff could be that high

What else do want?

 

[progressive hunter]

 

[Slade3200]

You love lies if they allow you to bash trump

Trump suggested dropping nuclear bombs into hurricanes to stop them from hitting the U.S.

"People were astonished. After the meeting ended, we thought, 'What the f---? What do we do with this?'"

www.axios.com

 

[Independent thinker]

This video estimates that tariffs would have to be at 133%. This would mean that other countries would also put up tariffs on US goods.

So, A) foreign goods for the US would be too expensive for people to buy

B) US goods would be too expensive to sell abroad.

C) This would hit the working classes the hardest. Any tax which taxes what people buy, like sales taxes, is worse for poor people than income taxes, as the poor pay a high proportion of their wages on goods, while the rich don't.

Nothing says "I Don't Care About You, I Just Want Your Vote" than this policy.

Trump Told Rallygoers, 'I Don't Care About You, I Just Want Your Vote'?

"Freudian slip of the century," one X user wrote.

www.snopes.com

Interesting idea but it's not happening.

 

[Mac-7]

Trump suggested dropping nuclear bombs into hurricanes to stop them from hitting the U.S.

"People were astonished. After the meeting ended, we thought, 'What the f---? What do we do with this?'"

www.axios.com

According to the infamous “unnamed sources”

You are repeating lies

But I’ll take the bait

Assume that trump has a mind of original thoughts as many highly intelligent men have, that inevitably hit a sour note sometimes

If your lie is not a lie let the record show that he tested it with experts and did nothing with it