Live updates: Trump announces sweeping tariffs

[captainpedantic@lemmy.world]

He doesn't understand anything. Here's what he said about income taxes and tariffs today.

They established the income tax so that citizens, rather than foreign countries, would start paying the money necessary to run our government

[zorsith@lemmy.blahaj.zone]

For people inside the US doesnt paying for the tarriffs just means more money going into this administration? Better to only purchase things if you absolutely have to

[doorbook@lemmy.world]

Does that mean oil is also 10% up?

[renohren@lemmy.today]

They are already building one in Dresden, others are planned to follow. The CHIPS act is at last having an effect.

[Guest]

You can't get close to orange fuck for anything like that. You gotta hope for a natural luigi to show up and say "time's up bitch"

[transplantedsconie@lemm.ee]

Only ones "looting, raping, and pillaging our country" are billionaires.

[Guest]

With a balooning debt to gdp ratio, its gonna get unmanagable really fast , people are too stupid to elect another FDR and US' tech dominance gap will shrink or be outright gone.

Chinese millenia is coming if its not already here

[Guest]

Lol no , if anyone thinks that its the best indicator that they dont know first thing about corpos ... theyll just jack the end price

[pennomi@lemmy.world]

This is killing so many small businesses. I know mine is basically dead now

[transplantedsconie@lemm.ee]

Not even via a trebuchet?

Trebuchets:

A superior siege engine for today's trying times!

[chonkyowlbear@lemmy.world]

This Wikipedia page is going to be relevant to all our lives very soon.

https://en.m.wikipedia.org/wiki/Smoot–Hawley_Tariff_Act

[dual_sport_dork@lemmy.world]

In 1930, the Republican-controlled House of Representatives, to alleviate the effects of the...Anyone? Anyone? The Great Depression passed the, anyone? Anyone? The tariff bill? The Smoot-Hawley Tariff Act? Which, anyone? Raised or lowered? Raised tariffs to collect more revenue for the federal government. Did it work? Anyone? Anyone know the effects? It did not work, and the United States sank deeper into the Great Depression.

[collapse_already@lemmy.ml]

So is the plan to drive the cost of everyday essentials so high that virtually everyone bankrupts and the billionaires buy all of our assets for pennies on the thousand dollars? That is all I can come up with trying to make a scenario where this has some coherent objective.

[gonzo-rand19@moist.catsweat.com]

If their cost goes way up, that might make hand-made American items comparatively affordable, maybe for the first time in modern history. It's (potentially) a good thing for a bad reason, I guess.

[Guest]

Oh cool!

[aesthelete@lemmy.world]

That's one of the stupidest things I've ever read.

[catloaf@lemm.ee]

I'm not sure that that's necessarily wrong. Excise taxes, import duties, etc. have been around for millennia. In the US, the income tax has only been around since the Civil War (which it was created to pay for).

[Guest]

.. Bueller? ... Bueller?

[aesthelete@lemmy.world]

And since we haven't moved the needle on the minimum wage in decades, people will be making those low-added value products at starvation wages.

[Guest]

As a my boycott will last a lifetime.