I heard this on the radio this morning and immediately I thought about the previous thread discussing tariffs.
Hopefully this is just campaign talk.
He is a wrecking ball for the working class how are Republicans falling for this ?
I can't imagine paying another 10% on everything on top of this crazy inflation
A broad tariff might be worth doing in terms of reducing the budget deficit but 10% seems high for that. I wonder what the exemptions would be. Is unfinished product subject to tariff? Classic Trump, starting a conversation with no intent of finishing it.
(01-22-2024, 01:07 PM)mikesez Wrote: [ -> ]A broad tariff might be worth doing in terms of reducing the budget deficit but 10% seems high for that. I wonder what the exemptions would be. Is unfinished product subject to tariff? Classic Trump, starting a conversation with no intent of finishing it.
I don't know about anyone else but I can't pay much more. I've excelled at my work I've increased my income 40% over the last 5 years, my wife went back to work full time so our household income is also up another 30% we have almost no debt and yet it still is paycheck to paycheck.
I'll get personal a family of 6 with four teenagers my grocery bill alone is almost 2k a month and no we don't eat steak and name brand stuff. I used to budget under $800 a month for the same groceries a few years ago.
The cost of goods is out of control adding another 5% would be killer another 10% will break people.
Welp, maybe the libertarians can fix it when they win the Whitehouse.
(01-22-2024, 01:15 PM)EricC85 Wrote: [ -> ] (01-22-2024, 01:07 PM)mikesez Wrote: [ -> ]A broad tariff might be worth doing in terms of reducing the budget deficit but 10% seems high for that. I wonder what the exemptions would be. Is unfinished product subject to tariff? Classic Trump, starting a conversation with no intent of finishing it.
I don't know about anyone else but I can't pay much more. I've excelled at my work I've increased my income 40% over the last 5 years, my wife went back to work full time so our household income is also up another 30% we have almost no debt and yet it still is paycheck to paycheck.
I'll get personal a family of 6 with four teenagers my grocery bill alone is almost 2k a month and no we don't eat steak and name brand stuff. I used to budget under $800 a month for the same groceries a few years ago.
The cost of goods is out of control adding another 5% would be killer another 10% will break people.
I hear you. The only reason I think it might be worth doing is to reduce the budget deficit and thereby reduce the chances of inflation in the future.
(01-22-2024, 01:32 PM)mikesez Wrote: [ -> ] (01-22-2024, 01:15 PM)EricC85 Wrote: [ -> ]I don't know about anyone else but I can't pay much more. I've excelled at my work I've increased my income 40% over the last 5 years, my wife went back to work full time so our household income is also up another 30% we have almost no debt and yet it still is paycheck to paycheck.
I'll get personal a family of 6 with four teenagers my grocery bill alone is almost 2k a month and no we don't eat steak and name brand stuff. I used to budget under $800 a month for the same groceries a few years ago.
The cost of goods is out of control adding another 5% would be killer another 10% will break people.
I hear you. The only reason I think it might be worth doing is to reduce the budget deficit and thereby reduce the chances of inflation in the future.
How about we just stop increasing the budget, let's start with some damn self control and reduce the budget for once before they come hat in hand expecting us to pay another 10%
(01-22-2024, 05:32 PM)EricC85 Wrote: [ -> ] (01-22-2024, 01:32 PM)mikesez Wrote: [ -> ]I hear you. The only reason I think it might be worth doing is to reduce the budget deficit and thereby reduce the chances of inflation in the future.
How about we just stop increasing the budget, let's start with some damn self control and reduce the budget for once before they come hat in hand expecting us to pay another 10%
If only
(01-22-2024, 01:07 PM)mikesez Wrote: [ -> ]A broad tariff might be worth doing in terms of reducing the budget deficit but 10% seems high for that. I wonder what the exemptions would be. Is unfinished product subject to tariff? Classic Trump, starting a conversation with no intent of finishing it.
It might raise money for the government by itself, but the net effect might be disastrous. Because if you crash the economy with a 10% tax on imports, incomes go down and therefore income tax receipts go down. So I have some doubts as to whether this tax would reduce the budget deficit. It might make it worse.
(01-22-2024, 01:32 PM)mikesez Wrote: [ -> ] (01-22-2024, 01:15 PM)EricC85 Wrote: [ -> ]I don't know about anyone else but I can't pay much more. I've excelled at my work I've increased my income 40% over the last 5 years, my wife went back to work full time so our household income is also up another 30% we have almost no debt and yet it still is paycheck to paycheck.
I'll get personal a family of 6 with four teenagers my grocery bill alone is almost 2k a month and no we don't eat steak and name brand stuff. I used to budget under $800 a month for the same groceries a few years ago.
The cost of goods is out of control adding another 5% would be killer another 10% will break people.
I hear you. The only reason I think it might be worth doing is to reduce the budget deficit and thereby reduce the chances of inflation in the future.
At some point, increasing taxes actually causes tax receipts to go down by crashing the economy.
(01-22-2024, 05:32 PM)EricC85 Wrote: [ -> ] (01-22-2024, 01:32 PM)mikesez Wrote: [ -> ]I hear you. The only reason I think it might be worth doing is to reduce the budget deficit and thereby reduce the chances of inflation in the future.
How about we just stop increasing the budget, let's start with some damn self control and reduce the budget for once before they come hat in hand expecting us to pay another 10%
They don't come "hat in hand."