Both are non-market govt interventions. Just as many “conservative” (lol) poster show they have no clue about economics when they argue foreign countries pay for tariffs. I think it’s stupid of liberals to argue for minimum wage to be a full living wage, and if you push the minimum too far obviously you disrupt the labor market just as if you set tariffs as too restrictive you destroy a bunch of import/export economic activity. However as I’m not an ideologue either way I’m ok with having a federal minimum as long as it’s a low baseline. Probably time to bump it up given how long it’s been stuck, but the fed minimum has to account for all the low wage/poverty areas in the country as well. You can’t set it to be a “living wage” in NY or Los Angeles. Those localities, if they want to be more aggressive with minimums it’s on them.
However, a minimum wage increase has the goal of helping the least well-off among us. A tariff is obviously a tax on them, and all consumers. It's pretty clear what Trump's aims are, and who he wants to give to. Is that really what you support and think our country needs?
I support bringing manufacturing jobs back to the US and tariffs are a means to encourage that. I want a strong middle class and bringing manufacturing jobs back to America will help accomplish that. It seems you support continuing to ship jobs overseas to countries who exploit children and ethnic minorities.
Have you noticed that the big onerous bill does NOT support the middle class, but steals from the less fortunate and by charging the middle class to give huge gains to the well to do?
I would think that no tax on tips and no tax on overtime do support the middle class. Also, the BBB locked in the tax rates for the lowest income levels would have remained the same but the second tax bracket stays at 12% instead of letting them revert to the previous 15% which all democrats voted against. It also increased the standard deduction which most taxpayers use when they file their taxes. Mant retired workers would also benefit from no taxes on social security.
First, 100%. Second, must realize the cost of goods will go up (wages higher) and stocks will possibly take a dip. There has to be a better balance. Who knows. With old court rulings that companies loyalty is to shareholders, no matter what country they are in, it might take artificial means to accomplish. No tax on tips and OT is just a talking point. Where do we make it up? Tax millionaires more? Ok! Ymmv.
Sure. Key findings The megabill will raise taxes on the poorest 40 percent of Americans, barely cut them for the middle 20 percent, and cut them tremendously for the wealthiest Americans compared to the tax situations faced by Americans this year. This tax increase for the poorest Americans is largely attributable to lawmakers’ decision not to extend enhancements to health care tax credits that make health insurance more affordable. The richest 1 percent of Americans alone will benefit more than the bottom 80 percent of Americans, receiving a total net tax cut in 2026 that is about $14 billion greater than the poorest 40 percent, the middle 20 percent and the next 20 percent of Americans combined. How Will the Trump Megabill Change Americans’ Taxes in 2026?
So why is manufacturing employment falling since January and even more dramatically since April? Tariffs seem to be failing to accomplish your goals. Perhaps that is because everything but the most basic forms of manufacturing (which don't pay well) require now taxed imports to manufacture, hurting the performance of the manufacturing firm.
Indeed. So you want middle class workers (most of whom work in services who won't directly benefit from any manufacturing jobs and who likely don't want to work in manufacturing, especially non-unionized manufacturing) to pay price increases due to tariffs for years on the hope that companies will build facilities in the US, where their imported components just became more expensive? All while their employment falls?
You do a great job of repeating the Pub talking points that are meant to fool you. 1) No tax on tips: many already to not claim all their tips, and there STILL IS tax on tips you claim in FICA and SS. But to get this you must forgo the standard deduction and itemize your taxes. Since this only excludes 25k in tips, losing the std. deduction is almost a wash. So this is lipstick on a pig mostly. Good publicity and you went for it. 2) Again still taxes on it (FICA abd SS) and LIMITED to 12,500/yr. and Same issue with std. deduction. 3) Please do not fall for the idea that the 12%-15% brackets will save low income earners thousands. Tariffs, btw, are have been associated with about a $2500/yr increase for these folks.
MORE winning: NEW YORK, Aug 4 (Reuters) - A federal judge dismissed a defamation lawsuit by Devin Nunes, the former California congressman and now chief executive of Trump Media and Technology Group (DJT.O), opens new tab, against NBCUniversal over a comment by Rachel Maddow about his dealings with a suspected Russian agent. U.S. District Judge Kevin Castel in Manhattan ruled on Friday that no reasonable jury could find Maddow demonstrated actual malice toward Nunes in March 2021 when discussing a package addressed to him from pro-Russia Ukrainian legislator Andrii Derkach on MSNBC's "The Rachel Maddow Show." Upon filing charges against Derkach from Office of Attny General :“The conduct of this Kremlin asset, who was sanctioned for trying to poison our democracy, has shown he is ready, willing, and capable of exploiting our banking system in order to advance his illicit goals. The U.S. will not be a safe haven where criminals, oligarchs or sanctioned entities can hide their ill-gotten gains or influence our elections,” stated United States Attorney Peace. “This Office, together with our law enforcement partners, will use every tool available to prosecute those who evade sanctions and abuse the U.S. financial system, and we will identify, freeze and seize criminal proceeds whenever and wherever possible.”
And everything could be different in 2029 with a different president. Tariffs could be reduced or eliminated and that big new factory you just spent a billion dollars on might be useless. Making longterm expansion plans is very risky in this environment. Also, AI/automation aren't going away. The capitalists who shipped manufacturing jobs to Asia will just as gladly give those jobs to robots here if it saves them money. So even if manufacturing does make a comeback in the US, it could be robots doing all the work.
Also, does the Republican Party really want to talk about exploitation of children in the labor force as they loosen child labor laws or the exploitation of minorities as they disparage any diversity consideration in hiring and tell racist lies about legal immigrants working in manufacturing facilities eating people's pets?
