I follow the news and what a court determined, although I was wrong in saying felon, he was convicted of two missy's. Steven Miran, Chairman of Economic Advisors is the only one in current admin that knows what he is doing.
ok just wondering if convicted of two missy's would that necessarily make is projection about the tariffs wrong? what if he is right?
well, tarrifs are a regressive tax so they will hit the poorest the hardest. So I’m not sure how a guy who makes 40k a year will get a tax cut when he buys a new car that costs 10k more because of tarrifs and the guy only pays like 5k in taxes to begin with. a rich guy can buy a Benz for 150k that used to cost 120k but he will save like 100k in income taxes. That money will trickle down to the poor person. Me, I’m eyeing bringatrailer when I get my tax cut.
Hadn't bothered to click on the link till now, but the first sentence kinda gives it away:- "White House adviser Peter Navarro has a wild theory about President Donald Trump’s tariffs, which have roiled the markets and rankled the United States’s trading partners over the last month." Tariffs are taxes, not tax cuts. Full stop. Any non-MAGA in the bag Economist knows it and with only two years of college eco courses in my distant past I do as well. If they are such revenue-generating tools why haven't they been used before as widely and broadly as tRump is proposing. Oh I suppose it took his stable mind to come up with the idea. Think for a second. If the tariffs start generating such ginormous amounts giving us all tax cuts (eff paying down the debt I guess, tRump loves debt is why) won't that quickly dry up the very same imports that are hit with the tariffs. Which then leads of course to quickly drying up the very same ginormous tariff revenues. Wild and wilder hand in hand with dumb and dumber.
I understood (maybe wrongly) that if the imports were to dry up that would be a good thing because the products needed would then have to be produced in US. That would create investment as companies would move to US to avoid the tariffs and then jobs would also be created in US because of the companies opening up business in the US. In addition, I understood those things in turn would increase revenue for US government. Is this an entirely wrong understanding and if so why?
american cars are junks, folks have money will rather pay for tariffs than buying domestically made. and the kicker is that the next admin will void the tariffs for certain. you can’t even build a factory here in 4 years, look at the rebuilding of baltimore bridge. i’d keep my old car for a little bit longer.