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Robert Reich@rbreich.bsky.social |
Trump has threatened a 10% tariff on all imports. Tariffs can be used strategically, but a blanket tariff is effectively just a sales tax on American consumers. Trump's tariff tax would cost the average family an extra $1,500 year.
13 replies 42 reposts 127 likes
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Aviendha69 - ⊃∪∩⪽
@aviendha69.bsky.social
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Trump tax, to pay for Trump tax cuts
0 replies 0 reposts 0 likes
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@jimjoe.bsky.social
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Don't forget the added costs, shrink-flation, the needed salary increases to cover the increase cost making everything else rise and become unfordable.
0 replies 0 reposts 0 likes
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Carl Forde 🇨🇦
@carlforde.bsky.social
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and who would be the recipient of that 10%? Trump would want to funnel some of it into his own pockets
0 replies 0 reposts 1 likes
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Mr. Thursday
@mrthursday.bsky.social
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And that's just the tariffs. He also recently proposed causing more inflation to boost exports. Not to mention how much more expensive food would get if he begins mass deportation of undocumented immigrants, who by done estimates make up nearly half of farm workers.
0 replies 0 reposts 2 likes
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Colette
@ccope.bsky.social
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Funny. trump is threatening all kinds of bad things for the average American, which is most of America, and that's his vote-for-me campaign? His dementia is progressing more rapidly that expected.
0 replies 0 reposts 0 likes
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Bubbles
@phonon.bsky.social
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I was told trade wars are easy to win
0 replies 0 reposts 1 likes
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James Steel
@jamessteel2008.bsky.social
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So much for being the ‘champion of the working class’.
0 replies 0 reposts 1 likes
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sympathizer of many, many different dimensions
@miasmo.bsky.social
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I think Trump's 25% tax on Chinese imports did more good than harm for US manufacturing, but I don't see how there is any benefit to a tariff on raw materials. That just makes US manufacturing less competitive.
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Saxon Walker
@saxonwaker.bsky.social
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Yeah, but they’ll encourage domestic businesses to spend on automation and AI and really screw over the workers.
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TubaPeter.com
@tubapeter.bsky.social
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Would a subsidy for US-made products accomplish the same thing as a tariff on foreign-made products? Does he prefer tariffs over subsidies because tariffs are paid for by consumers of all incomes while subsidies would get the money from taxes, i.e., more rich people?
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James Barham
@nowthenthee.bsky.social
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Got to pay for tax cuts for plutocrats somehow.
0 replies 0 reposts 1 likes
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Scottie
@scottie51.bsky.social
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For one who has at least 6 bankruptcies, he is far from an economist.
0 replies 0 reposts 0 likes