Gee, I wonder why tariff revenue looks shaky. Well, I mean, there’s the fact that tariffs don’t generate revenue and never have. There is no account with tariff money accumulating in them. The money exacted for tariffs leaves circulation is entirely, it’s basically destroyed.
Well tariffs are import tax. Imports are driven by consumption and consumption doesn’t go up in response to heavy new taxes.
That depends a bit on the type of consumption. Foreign versus domestic. The problem being that capitalists hollowed out all manufacturing in the United States. And so now most of the consumption is from foreign sources. There are no domestic sources, and therefore it is simply a flat price increase.
Its not just that. Things like bananas, chocolate, etc are less suitable to grow domestically so tariffs are also just a straight up price hike while the retaliation on things that do grow well here, like soybeans, have seen reduced exports.
People got conned twice by this moron.
Yes. I was taking that part of the equation for granted.
Just like all his businesses. Bankrupt.
And just like his other businesses, he’s pawning the furniture for his own wallet while it all crashes.
What the fuck else are we supposed to do when wages are completely stagnant and everything is getting more expensive by the day?
spend everything on protection without starving.
When you expect bank runs and inflation you don’t save money you spend it on assets or survival and debt becomes meaningless.
Being broke, hungry, sick, and unemployed is good for the economy! 🫲🍊🫱
Actually yes. You being broke, hungry, sick and unemployed is good for the top one percent’s economy.
We’ve spent decades bleeding the middle and lower classes dry.
People get all up in arms about private equity groups buying up companies, extracting any value, saddling them with debt, and then skipping out, and understandably so, but that’s exactly what’s happening with the USA. It’s just at a larger scale. The principle remains the same.
The US government is in a significant amount of debt which is constantly growing and will never be paid back. We needed to raise taxes on the wealthy and corporations, but we never did. We needed the banks to fail in 2008, but they stole our tax money. We needed a strong economic correction during a global pandemic, but instead they printed a fuck ton of money.
don’t let the Republicans off the hook like that. It wasn’t “they”, it was literally the guy we have right now, and all the same cronies, they just had different faces.
You all know it’s Bidens fault /s
But but mr orange rapist was supposed to run the government like a business and reduce the debt.
Mr President is amazing at running businesses, assuming that governments can even be run like businesses.
Yes, we’re all spiraling into hell. And you’re coming with us. So stfu and give us those Epstein files
Slowly? Isn’t just the interest payment on the debt like $1 trillion a year now?
That interest was totally manageable when America was the largest economy in the world and looking to stay that way. It’s the whole deliberately burning down the economy that’s the real issue
I wouldn’t say manageable, it was only a matter of time before the debt would topple over since it compounds. That’s just what happens with anything that has assumed infinite growth. Deliberately burning down the economy of course accelerates the collapse.
That’s not how the national debt works or ever worked. Every time someone tried to pay it off it was a massive disaster. Clinton’s administration managed to pass a balanced budget that had many tangible benefits and some disputed downsides, but bush easily destroyed that when he took office. FYI, the balanced budget under Clinton was the last time, and only the second time ever, that had been done. Oh, and they did it by raising taxes on the rich and cutting defense spending. Imagine that
https://factually.co/fact-checks/politics/clinton-administration-budget-balance-dd9c9f
I don’t understand what part you’re saying doesn’t work. Obviously paying down the debt doesn’t work if someone does the opposite right after, that’s true of everything.
How much you want to get he’s going to take the money, probably through crypto.
Trump ain’t going broke quickly, he’s adding to his gilt while lacking any guilt.
