• satanmat@lemmy.world
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    15 days ago

    Wow. I used to think he just couldn’t stop lying about tariffs…

    But now I’m convinced he has NO idea what they are or how they work… NONE

    • givesomefucks@lemmy.world
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      15 days ago

      That’s the thing about spending 70 years lying and having someone else fire anyone that disagrees…

      You start believing it all.

      Same shit happened to Elon and loads of other rich people, they stop getting real feedback and understanding that they’re being lied to.

      The honestly believe their own bullshit, and they just don’t know how to react to the truth.

      We saw it with the interview about the ms13 tattoo, trump doesn’t even know how to argue anymore, he’s used to everyone just agreeing with him, so when they don’t his only argument is “why aren’t you saying what I want you to say, do you not understand what I want you to say?”

      Because that’s the only time they hear what they dont want to; when the person talking to them is confused about what they want to hear

    • Ledericas@lemm.ee
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      15 days ago

      he treats them like his court cases, he thinks tariffs are a way to bully people to do what you want. he has no idea the economic implications of it. also hes doing it as a behest to putin.

      • jj4211@lemmy.world
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        14 days ago

        I think he at least roughly understands the economic implications, he just doesn’t care. He’ll just crack to the rhetoric, blame everyone else for the problems, and assume his fan base will eat up every word and let him continue.

        Falling that, he just goes all in on ignoring elections and count upon the system to let him do that like it’s a woman with a pussy to grab.

    • dalekcaan@lemm.ee
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      14 days ago

      I was convinced of that from the start. The language he used, I’m pretty sure he’s under the impression that the country you levy a tariff against is the one that pays it. Basically “make Mexico pay for the wall” part 2.

      • satanmat@lemmy.world
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        14 days ago

        Yep. Somehow, someway; he got the impression that because "goods from China " get hit, that China pays to send it here…

        And as someone else posted; he’s surrounded by people who ONLY agree with him. None of his people are correcting him…

        We’re so boned

  • Billiam@lemmy.world
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    15 days ago

    Walmart made BILLIONS OF DOLLARS last year, far more than expected.

    Under Joe Biden’s absolutely terrible, awful, most baddest saddest America-lastest economy?

  • MolecularCactus1324@lemmy.world
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    15 days ago

    What the fuck do you think businesses are gonna do? Their costs went up. Planet Money podcast had an interview with a small business owner that had to pay the 145% tariff on her imports ordered before the tariffs went into effect. On a $30,000 shipment, that’s an extra $43,500. You think businesses are gonna keep prices the same and eat that? They will go bankrupt.

    • Mog_fanatic@lemmy.world
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      15 days ago

      This is one of the most glaring problems with tariffs. Companies raise their prices and the tariff becomes basically a tax on the people. But within that is hidden the fact that gigantic companies can often hold off on raising prices because they have the money to deal with it in the short term and the massive markets to pull in discounted prices from suppliers. The result is humongous businesses like Walmart keep their prices low through the tariffs while your mom and pop shop down the street has no choice but to raise prices or go out of business cause they don’t have the kind of margins bigger companies do. They raise their prices, everyone flocks to huge businesses like Walmart who kept their prices lower, then mom and pop close up shop cause they aren’t selling anything at the higher prices. Then Walmart can do whatever they want cause they just tagged tariffs into the ring and murdered the competition. Tariffs have their place but they largely suck ass in a multitude of ways.

  • wolfarine@lemm.ee
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    14 days ago

    So the “elected” government is trying to control prices? Isn’t that the definition of socialism?

  • YangChow@lemm.ee
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    15 days ago

    Why not refund the taxpayers cost of tariffs from the tariffs collected? Tariffs are being broken out on invoices, file the tariff tax as deductions on 1040’s. It would be a wash for the taxpayers.

    • jj4211@lemmy.world
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      14 days ago

      That seems convoluted but also as stated it wouldn’t be a wash.

      A deduction means pretend that portion of income never existed and the taxable portion of it is not charged.

      Then generally the deduction has to be above the standard deduction to make sense to use, and the standard deduction is just so high nowadays.

      So if you claimed a hypothetical deduction of 1,000, then you reduce your tax burden by only 200 or so, assuming you otherwise had like 20 some odd thousand in deductions to get you close to the standard deduction.

      The only way it would be a wash is if it were a refundable tax credit with no qualifications, and that almost never happens for anything. I could imagine a non refundable credit that would make it a wash for anyone with sufficient tax liability.

      However, this would make the tariffs an utterly pointless needless complication, needing a whole lot more accounting by sellers and consumers just to get to a similar and simpler position of not doing the tariffs in the first place.

    • pacology@lemmy.world
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      14 days ago

      The goal seems to be replacing of federal income tax with import tariffs (like it was in the 1800s). The flat rate they set could collect as much as the income tax if import levels stay the same. Also, some of the stats shared by the administration early on on collections per day would multiply up to the total income tax collected. Writing them off would be counterproductive.

      The only downside with consumption taxes is that they are regressive. People in the lowest income levels will end up paying more percentage richer people because there is so much that rich people can consume from overseas vs poorer people.

  • TomMasz@lemmy.world
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    15 days ago

    If he’s supposed to be such a great businessman, why is he angry over this? This is exactly what a business does in a tariff situation. No business willingly reduces its margins, it just passes the costs onto the customer.

  • BigMacHole@lemm.ee
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    15 days ago

    The Waltons didn’t spend MILLIONS OF DOLLARS ELECTING TRUMP just so he’ll YELL at Them! MAYBE with a Couple More Million he’ll STOP IT!

    • JakJak98@lemmy.world
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      14 days ago

      I honestly don’t think anyone actually informed him of how this would go down.

      The president currently holds a cabinet of people and constituents who have, for the greater part of the past 12 years, relied on the ideals of sycophantic behaviour and likewise. To be in the room and suggest that an idea is not good would and likely has turned heads and gotten them removed from their positions. Look at the most recent Removal of the FEMA administrator: bashed on fema previously, incited change, told congress that axing FEMA would be a bad thing, immediately fired and replaced with a sycophant

      Lack of informed information because it doesn’t align is part of the M.O. of this administration and the GOP for several years now. The only thing that matters is the ideal of greatness, whatever logic that entails.

      This individual also has notably refuted and refused to consume media that doesn’t tailor to his outlook. Even bashing on Fox, which is the biggest right winged media outlet out there.

      My point is, he probably did not truly know what would happen. On paper and in his entourage, tariffs are indeed technically a tax on other countries, but in practice It is a tax on the people.

  • jordanlund@lemmy.worldM
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    15 days ago

    He really doesn’t understand tariffs or business or, really much of anything, does he? Businesses pass on costs to consumers, if the government intentionally increases costs China isn’t paying it, Walmart isn’t paying it, where does he think the money comes from?

    I have a very good relationship with a small bookstore here, a lot of their magazines are printed in Canada and a lot of their books are printed in China. I’m VERY worried for them.

    They aren’t in a position to absorb the costs, but at the same time, raising prices will turn off their customers. And they BARELY survived Covid.

    They can’t go to companies like Marvel and go “Hey, pretty please, with sugar on top, can you stop printing in Canada and China?”