Would Trump's proposed tariffs instead of income tax ever become LAW? (Poll)

[krichton]

The boat-shark story is not fake

You have the video

But we cant verify the tariff story

And I wont take your word for it

It COULD be exactly as libs claim

But we dont know

The story came directly from the Trump campaign. Verification isn't needed. This story is literally being reported everywhere, from financial news sites to right wing rags.

 

[Skylar]

Always the "showman", always dominating the news cycle, Trump once again comes up with a new and controversial idea, to replace the income tax with higher tariffs.

I don't see how the math works:
Income taxes bring in $2,200b a year currently, more if the Trump tax cuts are let expire.
Tariffs currently bring in $88b a year, but not everything imported pays a tariff

Looking at the total of US imports, lets say $4,000b a year.

• U.S. imports for 2022 was $3,966.17B, a 16.37% increase from 2021.
• U.S. imports for 2021 was $3,408.28B, a 22.75% increase from 2020.
• U.S. imports for 2020 was $2,776.50B, a 10.92% decline from 2019.
• U.S. imports for 2019 was $3,116.95B, a 0.45% decline from 2018.

So to raise ~$3T a year in revenue a 75% to 100% tariff would need to be imposed on all items. Would that make them too expensive to purchase??
Plus would that level of tariff start "trade wars" with everyone, hurting exports?

Trump's idea to replace income taxes with tariffs is a "sure way" to hurt the poor and help the rich

Experts warn that an “all tariff policy” would only benefit the wealthiest Americans

news.yahoo.com

Trump's idea to replace income taxes with tariffs is a "sure way" to hurt the poor and help the rich​

Indeed, tariffs are understood to hike consumer prices because companies pass on the cost of the tariffs they pay. Tariffs currently account for $88.3 billion of the $4.4 trillion in revenues the U.S. government reported in fiscal year 2023. Income taxes brought in about $2.2 trillion, the Treasury Department reported. To bring tariff revenues even close to income tax levels would require a dramatic spike in import taxes, much higher than Trump’s proposed 10%.

So I tend to agree with the link that replacing the Income Tax with Tariffs is a bad idea. It seems to be a billionaire's attempt to lower his income tax by punishing the poor and middle class. This idea makes me squishy in my support for Trump, I hope the House and Senate would NOT support this goofy idea.
.

This proposal is just one of those dipshit things that Trump says. Like Mexico paying for the wall. Or that he won in 2020.

 

[lennypartiv]

Unfortunately I think foreign countries would throw a wrench into this to ruin it.

 

[Mac-7]

Verification isn't needed.

Wrong

The story came from the lying lib media

And verification is always required

 

[The Sage of Main Street]

Or are you so bent on class warfare that you didnt notice?

Make Every Dynasty Die Nasty

"Class" warfare is intentionally too broad, so it is meaningless. What we need is birth-class warfare.

 

[task0778]

There seems to be some question over Trump's tariff proposal, was he joking or not. So far, I have not heard that he was serious, but let's not forget all the ridiculous things Biden proposed, pretty much for his entire career in gov't. Sometimes really stupid stuff comes out of a politician's mouth, but in any event no president could do that without Congressional support and I think we all know that ain't going to happen. Not even if the GOP got a super majority in the Senate and also controlled the House, the tariff idea is beyond ridiculous. But get back to me if Trump ever says that would be his policy.

Tell you what, guys: show me the quote. Maybe he's just yanking your chain, but until he comes out and says yeah I wanna do that in public, it ain't serious.

 

[krichton]

Wrong

The story came from the lying lib media

And verification is always required

Keep drinking the koolaid. I find it funny that you won't even believe Trump. lol

 

[Mac-7]

Keep drinking the koolaid. I find it funny that you won't even believe Trump. lol

I would if I heard trump say it

Which hasnt happened

 

[The Sage of Main Street]

There seems to be some question over Trump's tariff proposal, was he joking or not. So far, I have not heard that he was serious, but let's not forget all the ridiculous things Biden proposed, pretty much for his entire career in gov't. Sometimes really stupid stuff comes out of a politician's mouth, but in any event no president could do that without Congressional support and I think we all know that ain't going to happen. Not even if the GOP got a super majority in the Senate and also controlled the House, the tariff idea is beyond ridiculous. But get back to me if Trump ever says that would be his policy.

Tell you what, guys: show me the quote. Maybe he's just yanking your chain, but until he comes out and says yeah I wanna do that in public, it ain't serious.

If We Let People Be Born on Third Base, We Will Let Them Steal Home

Trump means that higher tariffs will lower taxes. Only abolishing dominating inheritance will eliminate income taxes, even for the HeirDads.

 

[task0778]

Trump means that higher tariffs will lower taxes.

I don't think tariffs can be raised enough to lower taxes enough to make a difference. AND, more tariffs mean higher prices and that is inflationary.

AND, there is also the blowback as our foreign trading partners hit us with higher tariffs on our exports to their country, which means less income for those affected in this country due to less demand for our stuff.

IOW, it's a stupid idea.

 

[Delldude]

IOW, it's a stupid idea.

Good starting point for tax reform. Possibly motivate legislators to come up with other alternatives than tariffs.

 

[task0778]

Good starting point for tax reform. Possibly motivate legislators to come up with other alternatives than tariffs.

IMHO, we don't need much in the way of tax reform. What we desperately need is spending reform, and IMHO there's far too much FWA. Sadly, I don't see that happening anytime soon.

 

[Delldude]

IMHO, we don't need much in the way of tax reform. What we desperately need is spending reform, and IMHO there's far too much FWA. Sadly, I don't see that happening anytime soon.

One side raises them the other lowers them. That needs to stop and adopt spending guidelines, but that will never happen.

 

[The Sage of Main Street]

I don't think tariffs can be raised enough to lower taxes enough to make a difference. AND, more tariffs mean higher prices and that is inflationary.

AND, there is also the blowback as our foreign trading partners hit us with higher tariffs on our exports to their country, which means less income for those affected in this country due to less demand for our stuff.

IOW, it's a stupid idea.

A Trade War Doesn't Need Any Pacifists

 

[task0778]

A Trade War Doesn't Need Any Pacifists

Doesn't need any activists either, cuz it's a stupid thing to do. Tariffs, quotas, and any other kind of protectionism is what the democrats do to win votes from their union buddies. The gov't picks winners and losers according to who is on their side and most of the time everybody else gets screwed.

 

[Mac-7]

IOW, it's a stupid idea.

Its a stupid liberal lie

 

[AntonToo]

heres a novel fucking idea,,

how about the government cut spending??

and it doesnt hurt the poor, it hurts the freeloaders that live off of other peoples hard work,,

keeping more of our own money helps everyone except the government,,,,

Here is a novel fucking idea - don't need to turn economy upside down to cut spending.

 

[progressive hunter]

Here is a novel fucking idea - don't need to turn economy upside down to cut spending.

hey dumbass,,

we are already 36 trillion in debt,,

I would say the economy went upside down a long time ago,,

 

[AntonToo]

hey dumbass,,

we are already 36 trillion in debt,,

I would say the economy went upside down a long time ago,,

There is no reason to make extreme, nonsensical changes to the whole taxation system just to balance the budget.

You comment conflates entirely different problems and is really dumb.

Don't want to aknowledge that? Ok, keep shitting yourself.

 

[progressive hunter]

There is no reason to make extreme, nonsensical changes to the whole taxation system just to balance the budget.

You comment conflates entirely different problems and is really dumb.

Don't want to aknowledge that? Ok, keep shitting yourself.

of course there is,,

we are 36 trillion in debt you stupid fuck,,