Summary
Donald Trump is poised to impose massive import tariffs on goods from Canada, Mexico, and China, effectively raising taxes on U.S. households by an estimated $3,000 annually.
Unlike past tax increases that targeted the wealthy, these tariffs disproportionately impact low- and middle-income workers.
While Trump claims the measures address immigration and fentanyl concerns, experts argue they serve as a revenue source to offset tax cuts for the rich.
Critics contend that Trump’s tariffs lack a clear industrial strategy and primarily burden American consumers.
I wouldn’t be surprised if these tax hikes are imposed, then Musk/Trump issue checks with their faces that give ‘free money’ to everyone in an attempt to curry favor.
If that happens, I will turn that crap into Euros.
I kept saying this, and I’m glad others are realizing it.
He steamrolled tariffs because it’s a tax on the working class. He will never raise taxes for the ruling class.
At this point I think it’s just market manipulation. They are already going back on some of the tariffs.
Is taxing his own corporation to generate revenue also a tax on his citizens?
Edit) What I mean is, are domestic taxes less harmful than tariffs, should domestic corporate taxes also be as low as possible?
Is this supposed to make sense? Moron.
Corporate welfare must end. Welfare for billionaires must also end. That’s your tax dollars at work.
Here’s an article showing that individuals, not just corporations, get abundant welfare in the hundreds of millions.
Oh wow. One might just think you’re a taint-licking moron, and they’d be right.
Hey man, there’s no need to lump the taint lickers in with this guy.
No need to be hostile, I just hear many people pushing for taxing corporations, and it popped into my head. Why is taxing foreign companies evil but taxing domestic companies good, or are all taxes passed to consumers in the end?
It’s not hostile it’s tough love. You’re talking bullshit and they’re trying to warn others of your idiocy.
To be fair, COVID-19 was also a factor in 2020
Though the orange goon’s abysmal handling of the situation didn’t help.
Most definitely
If I (someone who makes around $30,000 a year) owes anything CLOSE to 2 grand in federal taxes theyre gonna have to send the IRS after me to collect. 🤷 Sorry dumpy donnie.
Don’t worry he’s getting rid of half of the irs so there won’t be anyone to enforce tax laws.
You won’t see $2k more in Federal Income Tax, you’ll pay higher prices on store shelves (because of the tariffs the Federal government collected from the importer of the goods, which ultimately get passed on to you the consumer)
I call it “trickle down getting-fucked”
And pay $1,540 extr in actual income tax
“Whack”? Seriously? Jfc.
I’m not paying taxes for fucking musk to destroy the country.
If only this could have been seen coming … there were really just no warning signs … I’m tired.
Why did biden do this
Exactly, I wasn’t so much shocked as I was surprised Harris lost. I mean how can so many people be that dense as to vote for Trump?
“People keep acting like a trump win will be the end of democracy, but thats just hyperbole. He wont end democracy.”
-bad faith trolls
No he will not end democracy as such, it’s in USA he will end it.
That’s what I said to myself when he won to calm myself down.
What gets me is that there were millions who couldn’t be bothered to vote against Trump.
imho Biden/Harris shouldn’t have had to do anything whatever. People should have just shown up and said ‘no’ to anotehr Trump term.
Absolutely, being normal should beat a flaming sociopath. But malignant narcissism and sociopathy have become virtues in USA, as the ultimate symbol of freedom. Because they only think of themselves.
Good thing most Americans can find an extra three grand in their couch cushions. /s
That’s not for them. Vance left a tip for the couch when he finished.
Oh no no no. It’s of course someone else’s fault. Harris not good enough, blah blah blah. Definitely don’t blame people too lazy or uninterested to vote. That’s definitely not their fault and theyre definitely not complicit in everything going on.
Plenty of blame to go around
Take the upvote.
Hey that’s my line. Up vote.
Unpopular opinion but I’m not seeing many people put any blame on Biden for dropping out after the very first debate. The whole “too old” argument was extremely weak and, unfortunately, a large chunk of men in the United States will never vote for a woman. No matter how strong her stance is, what qualifications, or anything, they are staunchly against a woman in power.
It’s unfortunate but dropping out and nominating the VP that nobody really knew for doing anything during the 4 years of Biden wasn’t the best option, especially because people felt like they didn’t vote for her, and the aforementioned sexism that still exists. If they put Walz up, or even Beto, they would have been better options IMO.
Edit: Not seeing much discussion, just downvotes. If Lemmy is to be better than Reddit I recommend not downvoting only because you disagree.
Yeah, Biden could have done differently.
You know what would be better? If ~23% of the populous weren’t hateful ignorant cultists intent on installing christofascism to their own obvious detriment. To hell with bitching about what democrats do wrong (most things if we’re being honest). The blame lies with every republican that voted for mango Mussolini and we shouldn’t let them forget it.
My point is the people we’re constantly complaining about not voting, some didn’t vote because they didn’t vote for Harris to be the primary candidate. I am not one of them, but I think it’s a valid argument.
What I’m getting right now is knee jerk reactions to me saying Biden shouldn’t have dropped out instead of poopooing on the non voters like everyone else.
When did sabotaging your own economy become a hallmark of leadership? Asking for 300 million friends.
🐱🐱🐱🐱
He works for Putin. He’s been very successful at following his orders.
This went into effect today.
Calling it a “tax increase” when it’s not is kind of infuriating because it just muddies the conversation. Comparing it to a tax increase is fine but saying it’s “effectively” one is worse than useless - it either confuses people, gives them the wrong idea, or gives them an easy out to say it’s bullshit.
I hate when my side does stuff like this.
You’re saying a tariff doesn’t count as a tax because it gets hidden in the final price of goods?
Maybe corporate America will tack on a “tariff fee” like those bs restaurant service fees to tell consumers it’s not their fault.
I’m saying people are going to look for this tax increase they heard about and not find it on their paycheck.
Feel free to tell me the downside of being accurate here.
It would be accurate to call a tariff what it is: a tax. Maybe the downside is ostrich-heads won’t be able to bury their heads in the sand and pretend it’s not a tax.
People are very used to paying taxes that don’t show up on their pay statement. Things like sales tax, property tax.
A tariff is a sales tax, pure and simple. Sales taxes hit lower income people harder than the rich because they have to put a higher percentage of their income into it.
I agree, but framing it like this just gives the other side an opportunity to call bullshit.
Why give them the ammo?
Why craft your message with the primary goal of not angering a bunch of snowflakes who are going to attack you literally no matter what you say. We’re up against people that think wearing a tan suit is a newsworthy scandal and electing a rapist is fine. Or do you need me to say “found civilly liable for sexual assault but never criminally convicted of rape”?
Because any rational person is going to immediately assume you’re talking about directly raising taxes, not indirectly like this.
Trying to conflate the two makes it appear as though you’re trying to trick your audience. It’s not a good look and we can be better than that.
No average person says “my taxes went up $3000 this year!” referring to anything other than their income tax.
This is the exact water muddying I mentioned. Call things what they are and explain what they mean.
There is zero downside to explaining it correctly:
“Trump’s newest round of tariffs are projected to cost the average citizen $3000 per year”
Same power without the bullshitting. And you don’t have someone looking at their paycheck wondering if it’s taken effect yet.
Nobody is saying that tariffs are income taxes, but I pay a bunch of taxes each year that are not income taxes. I have sales taxes at stores, property taxes a couple times a year, and hidden ones like gas taxes. Now we are going to pay more import taxes so that the ultra rich don’t have to pay as much capital gains. To call them anything else is lying to yourself.
Tell me how telling people their taxes are going to go up $3000 is better than explaining that the tariffs will cause their yearly goods expenses to go up by the same.
This article is for the layman, not someone who understands tariffs. And instead of explaining that, it says “it’s basically the same thing as your taxes going up!”
Remember, if you see someone stealing food, no you didn’t.
😂😂😂 Oh boy those MAGA idiots that were complaining about inflation and thought voting for Trump would help them. 🤣🤣🤣
How’s that going for you? 🤡🤡🤡They’d cut off their nose to spite their face. As long as people they don’t like are hurting, they’ll suffer as well. They’ll probably just find a way to blame Biden or Obama again.
They won’t actually find a way. They’ll just make up shit that Trump was actually responsible for.
I thought DOGE saved taxpayer money. Since the cost of government spending is lower, taxes should be lowered. This Trump and Elon are scammers if taxes are not lowered.
The doge website is filled with shit like “We saved a million dollars by cutting a program that feeds starving babies” and I just have to laugh. One million isn’t even enough for the average person to retire on, the government is operating at a $1.7 TRILLION deficit PER YEAR.
Only if you make over 360k a year and above.
Wait you mean this guys don’t actually create value?! OMG this whole time!
It saves it for distribution to billionaires.
I don’t want to give up too many secrets, but…
…the ultimate way to own Libs is to destroy the economy and raise taxes on everyone that voted for you. Ssshhhhhhh…don’t tell anyone, them Libs’ll be so pissed. ;)
Well jokes on you, Republicans will have their tariffs paid for by China, Mexico, and Canada and even better they’re going to be getting a stimulus check for 8K thanks to DOGE.
That’s what Tik Toc tells them and what they know to be true.
