Was Trump The Best Economic Choice?

[AZTG]

Let's look at it logically.

The idea is to remove income tax and increase tarrifs to make up for the lost revenue

Who pays the least amount of income tax? The poor cause they have the least amount of income.

So poor folks are gonna get a little more money in their check cause they won't pay taxes, but then turn around and spend it all on higher prices goods cause of tarriffs.

It's estimated this will cose average folks 4k more a year.

Now who pays the most amount of taxes? The rich. You remove taxes for a million dollars, or 10 millions, or a nillion? Thats hundreds of thousands to hundreds of millions saved by rich folks.

And rich folks might eat better but they don't eat more than us.

So the extra money spend due to tarrifs will be the same for rich and poor. But the amount saved from not paying income tax will extremely skew to benefiting the rich

 

[AZTG]

Granted I don't think they can remove income tax.

But if they cut income tax and raise tarrifs, the above still applies.

Trumps plan is just a roundabout way of saying "tax cuts for the rich"

And that is what started inflation and spiked the national debt in the first place

 

[12bitCounsel]

If by “best economic choice” you mean, stuff is about to get more expensive, then yes.

 

[orgen]

For world peace yes

 

[The Lonious Monk]

In regards to the tariffs, is his plan to force companies to sell American made products?

No, typically tariffs are imposed to force Americans to buy American made products. The best examples are cars. Foreign cars are more expensive in part because they have traditionally been subject to tariffs.

That's not really a bad idea when you have an American made alternative. The problem is Trump is running around talking about putting tariffs on everything coming from China and Mexico. Some things we get from them may not have American alternatives, so he'd essentially just be taxing Americans at that point. Some things may be cheap alternatives to more expensive American products. Putting tariffs on those won't lead to the American products getting bought. They will just mean that people can no longer afford those things.

 

[Gray Matter]

Trump knows nothing at all about economics. In his first term he coasted off of the robust Obama economy Obama handed to him. Just managed not to mess it up. This time around he gonna get another great economy handed to him. Growth is robust, and inflation is solved at this point. Just need real wages to catch up, which they have already started to do. But Trump's tariffs plan will be disastrous if implemented. This time he almost certainly will mess things up.

 

[Mr.LV]

Trump claims the Economy does better under Democrats

 

[willhustle]

Trump is talking about mass deportations but the issue with that it will cost millions of dollars. The economy will collapse causing a lot of small businesses to shut down.

 

[The Lonious Monk]

Trump is talking about mass deportations but the issue with that it will cost millions of dollars. The economy will collapse causing a lot of small businesses to shut down.

It's going to crush some businesses too. Several states have already tried shit like that, and it went badly because there are jobs that only illegals take on.

 

[Revolver Ocelot]

It's going to crush some businesses too. Several states have already tried shit like that, and it went badly because there are jobs that only illegals take on.

Florida