Obviously the blue team would be upset no matter what. So this question is more for the red team. I don't know the details of how this would work but Trump's been talking about the idea.
If Trump's tariffs could drastically lower or even eliminate your income tax would you be upset?
While it's certainly true that the left loved the idea of tariffs when Pelosi and/or Obama wanted/suggested them (because they're hypocrites), just about all of the tariffs that Trump is threatening to implement aren't meant to be permanent. He's using them as a negotiating tool to get better trade deals for the United States. As of now, Trump's strategy seems to be working, as about 75 countries are in the process of renegotiating their trade deals with the United States to avoid tariffs. So I'm not sure how tariffs that are meant to be temporary would limit or eliminate income tax.
Trump. I don't think he's serious, I think he's just trolling the left. And they fall for it every time. He said he wants to focus on people making less than $200,000 per year.
So imagine you decide to buy a car that's not made in america. You'll pay a hefty tariff and that money will go to offset income taxes.
Blue team here. I'd be ecstatic if he could do that but I'm not holding my breath. I give it a 0.000001% chance. Reverse the question. Red team would you be pissed if in 5 years we still have income tax, are paying more for goods due to tariffs and still not brought back production to the US? I give that a higher chance of happening. We have yet to see his elimination of overtime tax that was promised or no tax on tips. It's still early and I'll give him the benefit of the doubt on all that but I'm not holding my breath.
How? You control the presidency, the house, the senate, the supreme court. The right has a free layup, if they miss it sure as shit ain't the lefts fault. No passing the buck on this one.
The left absolutely loved tariffs under every Democrat president. Now CNN told left to hate tariffs and they do. Why should Trump go out of his way to help these ungrateful people?
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I would rather he pay down the debt than deliver more of a tax cut than he already promised. Keeping the original Trump tax cut, no tax on tips and no tax on Social security is good for now. The interest on the debt will crush this country so that needs to be addressed while we have the opportunity
It is nice to have money left in your pocket. But that is not what the AMERICA LAST DEMOCRATIC COMMUNIST PARTY wants they want us broke and up to our eyes in debt.
I just heard that a few minutes ago. I hope it doesn't lead to the next civil war. I believe that 99% of the anti-Trump posts on this site are coming from outside of America. The Germans and the Brits are toxic humans on here.
Of course tariffs will drastically lower how much you'll pay in income tax. Look at the economies of countries with high tariffs and you'll see that the people there all have low income.
A 25% across the board tariffs would obviously lead to massive inflation. Assuming you live in a state with no state income taxes, you would need to make at least $65k to make up the difference between tax savings and increased living expenses. So yeah, it's an easy decision. I'll take no income tax every time.
So around 2.4 trillion $ tariffs from around 3.3 trillion $ imports meaning a 42% tariff if the flow of goods remained the same but it already doesn't.
You'd have to increase that constantly as higher tariffs would mean less imports and exports meaning less revenue creating a devils circle.
You can replace some just like you can print a little money but nowhere near half much less all of it.
If he could I'd love it, but he can't using tarrifs. I am of the blue team, but I also know how tarrifs work and implementing them doesn't have any relationship to taxes.
Very. I'm one of the 60% of Americans that don't pay tax. My family made 93k this year. I paid 200 bucks in taxes and got a 800 refund. Yes I have a negative tax rate. I don't want anything to change.
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