Also, it should be noted that they then took this "analysis," let's call it, and truncated it at 10%.
MAGA hat doesn’t seem to care. Bessent: “don’t panic”; “im not part of the negotiations”; “I don’t know why Canada and Mexico are not on the chart”
Trump is thinking out of the box. He's thinking out of Herbert Hoover's box. It didn't end well for Hoover (and America) the first time around, and it won't end well for Trump. The only question is: can he do enough damage to economy in his first two years to bring a landslide of democrats into Congress and get himself impeached for incompetence? I think he's got a shot at doing just that . . .
The SS tax break is ONLY going to benefit the wealthy. Poor SS recipients don't pay any taxes now--how are you going to give them a tax break? And giving a tax break on OT pay and tips will in no way offset the increases in prices that these people will pay on their groceries, much less their cars, appliances, their vacations, and everything else they buy. Inflation city. It's Trump's way of saying "Let them eat cake". You would be wise to remember what happened to the first person to say that.
good wsj this morning. Explains why Trump is keying on auto parts and Mexico. “Chinese companies have kept many goods flowing to the U.S. by manufacturing in Mexico, where products ship to the U.S. tariff-free under the U.S.-Mexico-Canada Agreement that Trump negotiated in his first term. Chinese firms have invested billions of dollars in hundreds of Mexican factories that make auto parts, electronics, home appliances, furniture, medical equipment and other products for the American market. The first Trump administration’s tariffs hit thousands of Chinese products, from car parts to cheese. But rather than move production to the U.S., many American companies looked to countries that weren’t covered by the tariffs—and Chinese companies saw an opening. Mexico was especially attractive. To Trump’s dismay, the U.S. trade deficit with Mexico has grown to nearly $172 billion last year from about $78 billion in 2018.“ https://www.wsj.com/economy/trade/c...6250e?st=VZUqcs&reflink=article_copyURL_share
no kidding. He is willfully ignoring facts. He’s an incredibly competent guy. He is the one person in the admin that could steer the clown car from catastrophe. Right. These are all pay fors to get to reconciliation to make 2017 tax cuts permanent.
Every republican has the freedom to fantasize about the tariffs solving whatever problem they think is most serious, without having any facts or educated thoughts come into their heads. I'm waiting for a MAGA-fan to come up with a way that tariffs is going to solve the immigration issue. Every second or third generation of republicans has to go through this period where they decide that tariffs are a necessity to burn the house down so they can collect on the insurance. It's like when the Amish go through Rumspringa or something, but they can't handle the mental freedom. To each one of them, their leader is a drug more addictive than fentanyl, and the talk of tariffs allows them to live in a fantasy dream-world for a few years, until everything comes crashing down and they learn to "just say no" to drugs and dictators as they look over the devastation. The intoxication really does convince them that they are better experts than the economists and historians. Trump economic theory really is like heroin to these addicts.
Trump could not give two shits about who dies from fentanyl. We are talking about the same person who lied about Covid deaths under his watch as he turned on the doctors , nurses and scientists who were trying to save lives.
Well, if we crash the economy and create third world conditions here, no one will want to come. 6D Chess baby!
I think the hope might be that the markets might look at him and think "well, sure, he has the nose and face paint but not the bright, curly wig, and he needs the first two to stay there and advocate against people wearing the wigs too." The problem is that he is wearing the wig by claiming that this is based on other country's tariffs. So...not really helpful.
