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Right, except that’s self-defeating and won’t work. The idea that we can plausibly generate enough revenue from tariffs to replace the income tax is inherently
by scoofy 1y ago
Right, except that’s self-defeating and won’t work. The idea that we can plausibly generate enough revenue from tariffs to replace the income tax is inherently self-defeating, because if the tariffs work at bringing back manufacturing, we’ll stop imports. If they don’t, we’ll consume significantly less, more people will become poorer, and expenditures will increase as revenues decrease.
Maybe there is an equilibrium in there, but I don’t see it.
- pupperino 1y agoBaked in this plan is the idea that the revenue from tariffs will be much smaller than income tax revenues, and therefore that the federal government will also get smaller.
- scoofy 1y agoRight, but that implies that spending is controlled by revenues… when it’s clearly not. That just means higher deficits, threatening a default of US Bonds, which is a worst case scenario for American prosperity.
- pupperino 1y agoI'm confident the people pursuing this mad agenda don't know the first thing about US budget laws and think they can just cut spending DOGE-style forever.
- pstuart 1y agoConsidering that the driver of all this is surrounded by yes-men and has spent his entire entitled life getting his way, I think their goal is to will it into being. And when it fails, blame the other party.
- cosmicgadget 1y agoI don't think the policy working out for the country was considered in deciding to go this route.