Top economist who previously sounded the alarm on tariffs sees a possible scenario where Trump ‘outsmarted all of us’

[txdot-guy]

Tariffs are a tax. Usually a regressive tax. In this case Trump has created a 10% tax on all imports and a 30% tax on imports from China. All to give income tax cuts that benefit the richest amongst us at the expense of the poorest amongst us.

I don’t call that smart.

[The_Waco_Kid]

Originally Posted by txdot-guy

Tariffs are a tax. Usually a regressive tax. In this case Trump has created a 10% tax on all imports and a 30% tax on imports from China. All to give income tax cuts that benefit the richest amongst us at the expense of the poorest amongst us.

I don’t call that smart.

that claim is false


maybe you've seen this before?


IRS data proves Trump tax cuts benefited middle, working-class Americans most

https://www.yahoo.com/news/irs-data-...ycsrp_catchall

[tommy156]

Originally Posted by Unique_Carpenter

Geeze,
Trump used to own casinos.
He knows how to play the odds

He bankrupted casinos. Only a Grade-A fucking moron could do that.

[txdot-guy]

Originally Posted by txdot-guy

Tariffs are a tax. Usually a regressive tax. In this case Trump has created a 10% tax on all imports and a 30% tax on imports from China. All to give income tax cuts that benefit the richest amongst us at the expense of the poorest amongst us.

I don’t call that smart.

Originally Posted by The_Waco_Kid

that claim is false


maybe you've seen this before?


IRS data proves Trump tax cuts benefited middle, working-class Americans most

https://www.yahoo.com/news/irs-data-...ycsrp_catchall

You do realize that the same tax breaks that the middle class benefits from also benefit the upper classes as well. That’s the way that changes to the income brackets work. A person claiming 50,000 gets the same amount of savings that a person claiming 100,000 would get on the same 50,000. Then they get even more savings on their upper income brackets as well.

People earning more get to save more because they make more.

The fact remains that Tariffs are a tax. That tax is regressive.

I would personally prefer to pay higher taxes on my income than tariffs that artificially perturb the market.

P.S.

Originally Posted by tommy156

He bankrupted casinos. Only a Grade-A fucking moron could do that.