Pretty significant day. Obviously, we'll have to wait and see whether it simply pushes inflation by taxing Americans or spurs significant increase in production in the US. Some of both perhaps, but which is more dominant? https://apnews.com/article/trump-ta...arning-signs-eafe20de9abad312573b320fd4b5fb33
I think it'll be a mixed bag of results, with most of the usual suspects beating the "it's all bad drum".
Trump has not met with Putin face-to-face in 8 months. Trump threatened Russia and allies with tariffs if there was no ceasefire in Ukraine. Russia blew him off. Then, within a few days, Trump imposed an additional 25% tariff on India for buying Russian gas. Now India is at 50%. Wouldn't you know, face-to-face meetings are being discussed once again. The effective tariff rate is the highest since the 1930s. It is being used to not only balance trade but to end wars, stop fentanyl from crossing our southern and northern borders, stop illegal immigration, and bring multinational corporations back to the USA. The tariffs are even getting some love from CNN and the NYT.
Absolutely Amazing! I think he's going to settle the invasion of Ukraine on Day 1, just like he said lied!!
Should we tariff ourselves for continuing to buy uranium and fertilizer from Russia while getting mad at others for continuing to do business with them?
"Trump’s tariffs are bringing in tens of billions of dollars a month. What’s the government doing with all that money?" https://www.cnn.com/2025/08/06/economy/government-tariff-revenue
Imposing higher taxes has resulted in increased revenue. Who would have thought? I guess there is the possibility that Trump could partially rebate the increase revenued like he did with the Covid stimulus checks back in 2020 although fiscally conservative Republicans in Congress who are actually concerned with the size of the federal deficit or at least claim that they are may not be willing to go along with that proposal.
But, neither of those are putting America first. Instead of me providing damning evidence ONCE AGAIN on how jobs created via protectionism make America worse off, perhaps someone can demonstrate how it makes us better off.
Some if it is being used to offset the $4.5 trillion in tax cuts for the rich. The rest of the deficit-funded tax cuts will be paid down by future generations. But it's nice to see you make an effort to pretend that the Trump isn't the most fiscally irresponsible pseudo-POTUS in US history.
It is irrelevant. Who cuts the check & who pays are not the same. I have never written a check to an alcohol, gas or weed company, but I (mostly) pay those taxes. The incidence (payment) of a tax is the same regardless of whether it is collected from the consumer or the producer. SS is collected as an even split between employee & employer, but research shows the employees pay far more.
From AI - Reports indicate that the United States collected approximately $29 billion in tariff revenues in July 2025, marking it the highest monthly total to date for the year. This figure represents a significant increase compared to July 2024, with some sources citing a 242% jump. Since the imposition of a 10% tariff across nearly all goods in April 2025, total collections have surpassed $100 billion, according to the Treasury Department. That's a pretty significant boast. Economists don’t say the Smoot-Hawley Tariff was the cause of the Great Depression. None. They imply that the increase in ordinary taxes and regulations was the main cause. We are introducing tariffs while doing the opposite of what they did in 1929. Mainstreet loves it.
Since they came after the Depression started, I hope no one thinks that they were the cause. Most economists think they deepened the depression though!
it is what virtually everyone does. If you are in favor, you focus on the benefits. If you are not in favor, you focus on the costs. The sad part is that this has next to nothing to do with policy. It is who implemented the policy. If a dem was doing this those trumpeting the benefits would be telling us the costs & vice versa.
