-
If you are posting pictures, and they aren't posting in the correct orientation, please flush your browser cache and try again.
Edge
Safari/iOS
Chrome
Time to lighten up - Laughter is good medicine Part II
- Thread starter Tree Spud
- Start date
jsasker007
5 year old buck +
H20fwler
5 year old buck +
4.3 GDP?
Tariffs are a long game. USA was getting ripped off for decades.
jsasker007
5 year old buck +
jsasker007
5 year old buck +
jsasker007
5 year old buck +
Wind Gypsy
5 year old buck +
Reactions dont usually lighten the mood!
IMO tariffs are simiply a tax. But as taxes go, I think tariffs are preferable over most of the other taxes.
On income taxes there is talk about a flat fax, but there isn't enough support to get it done. So we're left with highly progressive income taxes. Tariffs are regressive (low income spend a higher percent of their income on tariff inflation than high income people do). So if you take a progressive income tax and layer a regressive tariff tax, you end up with a tax system much flatter than would attainable in the income tax system alone.
Personally, I support tariffs for the sole reason that they are regressive. The only other politically acceptable methods of taxing the poor are taxes on alcohol, tobacco, gambling, etc (which I also support).
As for tariffs causing inflation, that is true of all taxes. Taxes remove the buying power of the people. Which side of the ledger (income vs sales) that happens on does not change the fact that is taking away buying power.
ok, I'll shut up now. Back your regularly scheduled meme thread.
jsasker007
5 year old buck +
Telemark
5 year old buck +
Not sure what 4.3GDP means, but happy to have a discussion about tariffs.
Telemark
5 year old buck +
That sounds like Trump's understanding of tariffs.
Let me ask you this: if the US produces less than 1% of the coffee and chocolate that it consumes, what is the point of a tariff on coffee and chocolate imports? It will never shift production to the US. All it does is make those products more expensive for American consumers.
I also disagree with you fundamentally on regressive taxes. Taxing the poor is not beneficial to society. This has been proven time and time again.
FWIW I'm not fond of how Trump is going about, I'm only stating I support the general strategy of tariffs.
Regarding coffee & chocolate, tariffs still have the benefits of raising revenue. Tariffs are a sales tax on things not produced domestically.
It depends on how we define "poor". At tax time we're all too poor, right?
Tax discourages whatever activity it is applied to. Given the US's consumption lifestyle / high spending / low savings / etc, I think discouraging spending $ is better for society than discouraging working.
Telemark
5 year old buck +
I fundamentally disagree with your entire attitude toward taxation in the United States. It is my opinion that taxes should be minimal. I also don't understand how you can possibly believe that tariffs or any other tax will encourage saving and working.
Bill
Administrator
The point is that the countries that do produce the coffee and chocolate should accept what the US produces at the same tariff. Why should the US pay a 100% tariff to ship something to them and they pay nothing to send us their coffee?
The problem with progressive taxes on anything is it hurts the poor eventually. Put a tax on anyone making over a million dollars sounds great today. But in 50 or so years inflation will have made it so minimum wage earners are making a million $ a year. And you better believe politicians won’t change the law. Exaggerated I know. But the point is valid. Once they get it, they won’t give it back.
H20fwler
5 year old buck +
Gross Domestic Product
It’s a gauge that tells you how good the economy is doing. 4.3 is a good/better number means the economy is turning around and going the right way.
During 2024 it was down to 2.1 which means bad inflation.
Higher the GDP more every American is getting for their dollar. COVID was a GDP killer, it’s a good barometer….we want to see it keep going up.
And tariffs protect our workers and products from other countries undercutting us. Many countries were charging us ridiculous tariffs while we were hardly charging them anything for goods.
