Trump doubles down on replacing income taxes with tariffs in Joe Rogan interview

You should like that. Would become a true consumption tax environment where the wealthy pay more. Right up your alley.

 

Sales taxes, aid tariffs are de facto sales taxes, are regressive. Poor people spend almost their entire income on things they consume. Rich people have money to save and invest. Percentage wise, replacing income taxes with rariffs would hurt the lower classes.

It would also kill any business that relies on exporting their goods. Retaliatory tariffs and trade wars.

 

Stunningly dumb. Just do the math. The US currently imports about $4 trillion in goods. US income tax revenues are a little over $2 trillion. To get $2 trillion from tariffs the tax on all imports would have to be 50%. But at 50% the amount imported would plunge, so the of course the tax would have to be much higher than 50%, which would cause the amount imported to plunge further. It would not be possible to raise $2T per year through tariffs.

 

Yet people trust Trump more on the economy. Truly baffling. If he wins I hope he does it so his followers can finally understand how dumb he is.

 

For the reasons explained in Post #3 the opposite is true. A consumption (sales) tax disproportionately affects the middle and especially lower income households. Replacing the income tax with tariffs would be a windfall for the wealthy. By the way if Trump is elected there will be massive buyer's/voter's remorse among Trump's working class supporters when they finally come to the realization that they've been manipulated by a master con man who really doesn't care about them in the least. After a less of than a year of Trump's inflationary tariffs they could very well come to the realization that Bidenomics wasn't so bad after all.

 

It would be kind of fun to see Trump do the majority of dip$hit things he proposed: end ACA, build a wall, deport 11 million+ undocumented immigrants, his tariffs....

In reality though, this is a guy who says that immigrants are eating dogs. He might as well literally have feces come out when he opens his mouth.

 

Trumps proposals around tariffs and deporting the labor force would cause Great Depression 2.0 if not trigger a worse economic catastrophe.

So… umm… no thanks.

 

It's REALLY basic economics.
Forget specific numbers on calculating tax shortfalls and just ask yourself whether:

a) Americans can produce all they need domestically? (Hint: you can't and nor should you. Light reading, Adam Smith)
b) Americans, philosophically, would only want to "buy nationally"? (Just think about that for a second before replying with a flag-waving and chest beating "heck yeah!". I'm struggling to even find the words - some are in for a shock how much you import)
c) How much your export industry (the second largest in the world) will be gutted in response to retaliatory practice - it's like rule 101 of international trade disputes, that 'you tax my stuff, guess what we're doing back?'...

Shouting for anyone who still doesn't understand the most basic aspects of international business...
Barriers. To. Trade. Hurt. Everyone.

It's bewildering this isn't being made more mainstream.
It's even wackier that some posters on here are disagreeing with it!!

 

Oh, I agree. I just look at his record of "accomplishing" the BS things he proposes to scare up votes. Then I worry less.

I look at the remarkable success he's add injecting criminality and corruption into our political process, and totally corrupting a political party, and I get far more concerned.

But you're clearly not wrong.

 

To quickly state it - this is just ignorant. simplistic demagoguery for votes.

 

Stunning ignorance, comrade.

Wealthy don’t spend nearly as much % of their income. Some poors basically spend 100% their income. This would be a massive regressive tax hike on the poor and middle class. Only in a vacuum could you call it a tax cut for the wealthy who spend less as a % of income, but you are ignoring the massive wealth destruction such large scale tariffs would have on anyone involved in trade or industry. Can’t collect tariffs on business activities which would cease to exist.

 

yeah but tariffs take next to no effort, so he'll do it.

I would like to at a min see tariffs require a vote from congress & wouldn't be against making it the domain of an independent agency...get the idiots & their idiot politically motivated nonsense outta the equation.

 

The best “conservative” argument for holding your nose and voting Trump, is that he wouldn’t do crazy shit like “ending NAFTA” or “pulling out of NATO”. Even if it held true for his first term, seems incredibly crazy to want to “test” things again.

But here we have a guy who probably calls himself a conservative trying to justify 50% tariffs. These people are just totally lost at this point.

 

Trump supporters on Harris: “ShE hAS nO pOlIcIeS!”

Guy they support explaining his policies: “Tariff is the most beautiful word in the dictionary. Drill baby, drill.”

 

Yeah I could be wrong, but I thought MoS was some sort of financial advisor type. But he doesn't seem to understand basic math.

 

This is the guy who might win the election.

 

2.5 hours on an unedited podcast and one silly idea - which may simply be a ploy to improve negotiations with other countries ( leave NATO, remember? )

Yeah, vs Kamala’s 30 to 40 minute edited song and dance and no one knows what she said anyway. Actions > words
We have a 4-year record of Trump and a 3.5+ year record with “I wouldn’t change a thing” Harris. Advantage DJT

 

Trump can talk forever without saying anything stupid.

Are they still eating the dogs?