Your answer The math required for this to work would be nearly impossible. Right now, federal income taxes raise about $3 trillion per year. That means repealing them would leave a $3 trillion revenue hole to fill. But the entire value of all the goods we import each year is itself about $3 trillion. Not the tariffs, mind you, but the goods themselves. Trump could try to levy tariffs of 100 percent on every import, but remember that imports would decline as taxes on them rose. So even a global 100 percent tariff wouldn’t raise enough money. It would, however, cripple the U.S. economy, worsen inflation, make the tax system much more regressive and invite retaliation from our allies.https://www.washingtonpost.com/opinions/2024/06/18/trump-trade-wars-tariffs/
Tariffs are effectively a sales tax on imported goods. Every economist and most educated people realize that in the end they're paid by consumers. Like virtually everything Trump does or says the support for this proposal comes from his willfully ignorant supporters who accept whatever Trump says as the words of an infallible deity.
Part of the plan... Then when these clowns destroy our way of life... they will blame Capitalism. No system of governance is FOOL proof.
I can see how someone can look at this and either imply or outright say it's the Dems fault for exploding the deficit. Not. And Biden is doing it in the face of the Trump tax cuts.
Finally, you agree that the Pubs are clowns and destroying the country with exploding deficits. Nailed it!
90% of what falls out of trump's mouth is lie. He makes Biden look like Abraham Lincoln. Just look at his Wisconsin rally the other day. But I guess if you repeat it enough, followers will believe you. Actually, I stand corrected, all he has to do is say the lie once and they believe. PS I wish the deficit was the number one problem, just like the good old days, but it's not.
Illegal immigration and inflation are 1 and 1A. You can take a pick on the next 10, there are many. The liar is Biden. It doesn't take the sharpest tool in the shed to know this, but lefties with TDS like you have can't see it, likely affected by the satanic Biden administration.
Just curious - is there anyone here who considers themselves conservative think that tax cuts have been excessive and are part of the deficit problem? Conversely any liberals here who think spending should be cut / better controlled?
I'm in the middle. Tax cuts were excessive and we need to cut spending. Also need to fully fund the IRS.
Of course, I would happily slash the defense budget by 75% and cut off all aid to Israel and other rogue states. I feel like when people ask this though its implied that certain things are off limits.
Unfortunately, I think you buy this stuff hook, line and sinker and are not simply lying to us in hopes of spreading the DNC's message. Obama didn't decrease the deficit as your graphic indicates. He actually tripled it in his first year from Bush's last year in office and more than doubled Bush's last year in office in years 2 through 4 of his presidency. It wasn't until his 6th year in office that he actually reduced the deficit below Bush's last year, but managed to equal it again in 2016. Obama's deficits made Bush's deficits look like a walk in the park with an ice cream cone in hand. In fact, President Trump kept the budget deficit far below the average of Obama's presidency until 2020 and I think we all know why the deficit "hugely increased" in 2020. Trump showed that in years 1 through 3, he was not interested in highly irresponsible deficits like Obama was, as his deficits ran far below Obama's average during those 3 years. Covid led to a 32% drop in GDP 2Q2020, so it's understandable that deficit as percentage of GDP would skyrocket while President Trump helped the nation make it through Covid. What's the excuse now? There is no Great Recession (Obama) and Covid has been less of a nuissance than the flu for a couple of years now. There's no justification for running such an insane budget deficit when we are at or below 4% unemployment and GDP is growing at normal rates. Wonder what would happen to the current economy if Biden reduced the new budget deficit to below 4% of GDP. People really need to understand how reckless and irresponsible Joe Biden is. Someone is going to have to pay it back. What are we going to do when we get a real recession? Debt to GDP of 200%? Can't wait.
