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Joined 2 years ago
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Cake day: July 6th, 2023

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  • Import tariffs cannot possibly replace income tax. It’s not even vaguely possible. A 25% import tariff on literally everything would mean that Americans would have to import (AFTER the reduction in demand for imported products caused by tariffs) 4 times the amount the US government takes in income taxes. The US government gets on the order of 4 Trillion dollars in income tax. So Americans would have to import 16T total DESPITE the tariffs to make this up.

    There is simply no world in which this works.

    Plus the goal of using tariffs to eliminate the income tax is directly counter to the goal of reducing trade deficits and bringing back manufacturing, since to keep the income tax eliminated you need US consumers to continue importing and paying the fucking tariffs.

    So not only does the math not math, if the tariffs succeeded at one of their stated goals they would necessarily fail at the other.






  • the US president reconfirming his commitment to a comprehensive tariff regime he argues will be “the greatest thing we’ve ever done as a country”.

    I will never understand how Americans developed a taste for his constant hyperbolic bullshit.

    Really? Tariffs? Rehashing pre-WW1 economics theories is the greatest thing America has ever done? Greater than abolishing slavery? Greater than the civil rights act? Greater than the moon landings? Greater than the invention of the transistor?

    Trump is at a point where nobody bats an eye to this. Trying to hold him accountable for literally anything he says is futile, and half the country things that quality is a good thing and they enable it.