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Dems just need to spin these tariffs as the largest tax increase in US history (which is basically correct).
by senderista 2y ago
Dems just need to spin these tariffs as the largest tax increase in US history (which is basically correct).
- davidw 2y agoEven Mike Pence came out and said that.
- Izikiel43 2y agoIs this a sign republicans in congress may do something?
- jghn 2y agoOnly a carefully selected subset. Just enough of the most vulnerable of them so they can be on record as being against this, but not enough of them to change any outcomes.
- ncallaway 2y agoI wouldn’t be surprised if we get enough Republicans in congress to pass a law taking the tariff power away from Trump, but Trump will veto that law. I would be quite surprised if we can get enough Republicans to override that veto
- fullshark 2y agoNo, Mike Pence is a villain to Trumpist republicans. He speaks for the old guard republicans who still think this is all just a temporary blip and populism will be forgotten in 4-8 years.
- trhway 2y agoand done purely on Presidential authority without Congress.
- AnimalMuppet 2y agoNo taxation without representation!
- Izikiel43 2y agoMatt Levine on his column today went over this.
- kubb 2y agoI’m curious to see how they are going to fumble this.
- deleted 2y ago[deleted]
- deleted 2y ago[deleted]
- k_roy 2y agoI wanted to argue... then I couldn't
- theultdev 2y ago[flagged]
- lentil_soup 2y agoWhich restrictions and tariffs are these?
- theultdev 2y agoYou want me to detail all countries' tariff policies? Are you insinuating that these countries have no tariffs in place, or...? I believe it's quite clear the imbalance of many markets. Automobiles being the most distinct, but every product tariffed varies by country. edit: rate-limited, I'm not allowed to talk anymore I guess...
- ncallaway 2y agoI’m not the same person, but I’ll go past just insinuating. Almost no country has broad tariffs at the level that our “reciprocal” tariffs are being applied at. Can you find any example in the top 15 of our trading partners that have tariffs that meet or exceed our “reciprocal” tariffs?
- trhway 2y ago>you choose to purchase foreign over domestic, but you have that option. where can i buy a domestic made iPhone? >as we transition to domestic manufacturing manufacturing is capital intensive and has low margins and thus is adversely affected by 2 things the most - unstable environment and high volume based taxes, which both has just significantly increased.
- theultdev 2y agoAnd thus you have the $500 billion investment from Apple to build here.
- 2y ago
- mmooss 2y agoIt's also a tax on everyone, to the benefit of large corporations which can now increase prices / decrease value), due to less competition.
- trhway 2y agoWhich is one of the reasons the countries with high tariffs have had worse economy overall and specifically much worse than the US economy. The higher your tariffs the worse the protected industry and the whole economy.
- mmooss 2y agoYes - with free trade, the US is the wealthiest economy in the history of the world. Economic research says it works. What is the reasoning for throwing it away? I hear the nonsense reasoning from the Trump crowd, but many know it's nonsense even as they say it. What is their real goal here?
- JohnFen 2y agoI wish I knew. Nothing I hear from that crowd makes any actual sense except one thing: they have developed such a seething hatred for more than half of their fellow citizenry that they're willing to destroy the entire country, including themselves, just to hurt them. But that also makes no real sense. So I don't know.
- mmooss 2y ago> they have developed such a seething hatred for more than half of their fellow citizenry that they're willing to destroy the entire country, including themselves, just to hurt them. That is the people following (speaking very generally). The leaders are leading people in that direction for a reason.
- JohnFen 2y agoYeah, I agree. But what is that reason?
- KerrAvon 2y agoHow would they get the message out even if they had one? Republicans own the media.
- AlexandrB 2y agoWhich media? Most "traditional" media is quite left leaning.
- weard_beard 2y agoIf you mean they're not yet state controlled mouthpieces of a conservative dictator, sure, I guess that counts as left leaning? I see a lot of shock and gossip. And a LOT of reporting about how the dictator is pissing off his rich enablers. I guess if you consider the left and the right to both be bootlickers of the oligarchs we're both right. I don't see a lot of content that supports your thesis I guess.
- mostlysimilar 2y agoFirst of all you might want to update that assumption, but traditional media aside Zuckerberg is all in on the clown show and he owns the major social media platforms.
- ecommerceguy 2y ago[flagged]
- JohnFen 2y ago> Decades of USA taking it in the can trade wise appears to be over, for now. Except that the US hasn't been. Global trade has made the nation wealthier than ever. People who aren't wealthy have been taking it in the can, of course, but that's not because of global trade and these changes aren't going to fix that. All that's going to happen is that if you aren't already very wealthy, you're going to get poorer.
- bryanlarsen 2y agoTaking it in the can? The US is the richest nation in the world! If you're #1 it's really hard to say other nations are taking advantage of you. Americans have been taken advantage of, but it's not been other countries taking advantage of Americans, it's rich Americans taking advantage of poor Americans.
- ecommerceguy 2y ago[flagged]
- brian-armstrong 2y agoConvincing the entire world to use its currency and sell it things cheaply is apparently somehow bad for America? I think you're about to get a very expensive lesson in economics.
- deleted 2y ago[deleted]
- basisword 2y agoThey won’t even need to spin it. People are going to feel it very quickly.
- marknutter 2y agoI thought Dems loved taxes
- JohnFen 2y agoNobody loves taxes, including Democrats.
- soupfordummies 2y agoComing right on the heels of the largest layoff in US history (which is still ongoing, depending on your definition).
- deleted 2y ago[deleted]
- rufus_foreman 2y ago>> Dems just need to spin these tariffs as the largest tax increase in US history And then what? From a quick look at the 2024 Democratic Party Platform: "Democrats will make billionaires pay a minimum income tax rate of 25 percent, raising $500 billion in 10 years. We’ll end the preferential treatment for capital gains for millionaires, so they pay the same rate on investment income as on wages" Tax increase. "We’ll put an end to abusive life insurance tax shelters, and stop billionaires from exploiting retirement tax incentives that are supposed to help middle-class families save" Tax increase. "We’ll eliminate the 'stepped-up basis' loophole for the wealthiest Americans" Tax increase. "Democrats will close the 'carried interest' loophole" Tax increase. "we’ll increase our new stock buyback tax to 4 percent" Tax increase. "Trump doesn’t care: he slashed the corporate tax rate to 21 percent, down from 35 percent. President Biden will raise that rate back to 28 percent" Tax increase. "And for those billion-dollar tax dodgers, the President signed a historic 15 percent corporate minimum tax into law" Tax increase. "He also reached a global minimum tax agreement with 140 countries" Tax increase. "Biden will double the tax rate that American multinationals pay on foreign earnings to 21 percent" Tax increase. "It means ending special tax breaks for corporate jets, and boosting fuel taxes on corporate and private jet travel" Tax increase. "We’ll also eliminate the so-called 'like-kind exchange' loophole that allows wealthy real estate investors to avoid paying taxes on real estate profits, as long as they keep investing in real estate" Tax increase. "It offers corporate landlords a basic choice for the next two years: either cap rent increases at 5 percent, or lose a valuable federal tax break" Tax increase. "We oppose the use of private-school vouchers, tuition tax credits, opportunity scholarships, and other schemes that divert taxpayer-funded resources away from public education" Tax increase. "Democrats will make Medicare permanently solvent, by making the wealthy pay their fair share in Medicare taxes" Tax increase. "To cover those costs, the law finally restored a vital 'polluter pays' tax that had lapsed 26 years before" Tax increase. "fight for a global minimum tax that ensures corporations pay their fair share" Tax increase. Spinning the tariffs as a tax increase will do what for the Dems, exactly? Democrats love taxes on corporations, do they not think the consumer bears much of the costs of those taxes?
- senderista 2y agoWell, tariffs are about as regressive as you can get, so I fail to see the contradiction with advocating higher taxes on the wealthy.