General Discussion

AloeVera

(2,010 posts)

22. It's a gift to the rich. A regressive form of taxation.

Tue Nov 26, 2024, 12:32 PM

Nov 26

Combined with his tax cuts, the impact is a massive redistribution of wealth to the well-off.

Of course.

Here is a good take on that, from a Nobel laureate in economics.

https://www.project-syndicate.org/commentary/trump-tariffs-would-tax-the-middle-class-benefit-the-richest-by-simon-johnson-2024-10

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Highlight:

Why does Trump want tarriffs? Real question. [View all] LAS14 Nov 26 OP

They like the idea of using monetary penalty to force people to do things against their will. Walleye Nov 26 #1

Yes the sadistic cruelty will appeal to Trump and his pals. Irish_Dem Nov 26 #30

Always Walleye Nov 26 #35

He loves a con where there is cruelty, trickery, manipulation and a big payoff. Irish_Dem Nov 26 #37

They think all the outsourced factories will return to the US because they can no travelingthrulife Nov 26 #2

Yep...Made in America* radicalleft Nov 26 #7

Because he had literally nothing else to run on Blue_Tires Nov 26 #3

Only they won't. They'll go elsewhere. Other countries. onecaliberal Nov 26 #26

I'm guessing that he saw how the pandemic allowed businesses to jack up their prices and keep them there permanently LaMouffette Nov 26 #4

Probably an acknowledgement that his f@#cking zorbasd Nov 26 #10

That goes with what my father would say in the '80s. louis-t Nov 26 #16

Yes revenge and Putin's list. Good points. Irish_Dem Nov 26 #33

He can bully allies and look strong Johonny Nov 26 #5

Putin's goals: damage the US economy and break up North American agreements and cooperation. Irish_Dem Nov 26 #34

because the people he surrounds himself with are advocates of it, even though most economists believe history has shown JohnSJ Nov 26 #6

It's a grift HappyH Nov 26 #8

Couldn't agree more Happy... democratsruletheday Nov 26 #21

Bingo. I wonder how much money he will make on the tariff grift? Irish_Dem Nov 26 #36

Thank you HappyH Nov 26 #41

You made a good comment. Irish_Dem Nov 26 #43

It's a diversion while they enact project 2025. Emile Nov 26 #9

Probably Not To The Extent OhioTim Nov 26 #11

To encourage companies to keep production in RubyRose Nov 26 #12

He doesn't really want tariffs. He wants to use the threat of tariffs Bonx Nov 26 #13

From what I have seen they claim to call it fair trade. thatdemguy Nov 26 #14

As I ForgedCrank Nov 26 #15

Here are my ten reasons: Doodley Nov 26 #17

All true!! Very good points. AloeVera Nov 26 #24

Someone sold him on the benefits. Mosby Nov 26 #18

Ultimately Miguelito Loveless Nov 26 #19

Because it is about a century since they tried it. We need another make America have a Great Depression. GreenWave Nov 26 #20

It's a gift to the rich. A regressive form of taxation. AloeVera Nov 26 #22

A fascist leader always demands a big cut of any "gifts." Irish_Dem Nov 26 #29

He wants to seem tough to his base, and enrich his corporate masters sakabatou Nov 26 #23

Thanks to all so far!!! Not a single simplistic, "Because he's an idiot." nt LAS14 Nov 26 #25

Trump's only interest is making himself the richest man in the world. Irish_Dem Nov 26 #27

Probably because he will be expecting a monetary reward for not doing so, a form of extortion. Uncle Joe Nov 26 #28

I think he sees it as retribution but I would seriously doubt that he understands milestogo Nov 26 #31

He will force Americans to pay the tariff and then when it is collected he skims off the cream Hope22 Nov 26 #32

My guess. Raven123 Nov 26 #38

He said in 2015 that the housing crisis was great for him. I think his goal is to drive the middle class into bankruptcy rainin Nov 26 #39

All In The Family mentality VGNonly Nov 26 #40

His base likes the tough talk and hardline stance and threats D. Spaulding Nov 26 #42