Politics Liberation Day - The biggest tax hike in world history

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Our phones have been quiet all week. They've been absolutely dead today...

Machine shop.

They were humming pretty good the last couple weeks...
 
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Phatguysrule said:
Our phones have been quiet all week. They've been absolutely dead today...

Machine shop.

They were humming pretty good the last couple weeks...
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Told ya. People aren't paying. At least not for the moment.
 
Senator Chris Murphy laid out the purpose of the tariffs is political, not economic. They are indeed intended to cause economic pain. Since Trump made end run around Congress, who normally has power to fix tariffs (with groveling by Weaker of the House), only he can end them. He can exempt any business, industry, country from punishing tariffs, for the very small price of absolute political fealty to Donald Trump.

Meanwhile, Fox "news" commentator Harris Faulkner explained that our crashed 401(k)'s are just the price of war. Like during World War II when civilians had to make sacrifices.
 
California produces most of the world's almonds and three fourths are exported. Trade war could cost farmers $875 million. Most of them voted for Trump. Cattle in California get feed from Canada so milk prices go up. Pharmaceutical industry gets 80% of starter material from China and India. Wood pulp for paper towels and toilet paper is Canadian. Higher prices and possibly Covid type toilet paper shortages.

Russia was exempted from tariffs along with North Korea (US doesn't buy anything from North Korea).

DOGE bros used IP rather than country to set tariffs which is why Reunion, a French territory, and Gibraltar, a British territory, have tariffs different from France and UK and why unpopulated islands are included. Because they are so smart!
 
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Most Trump merchandise is made in China. Will MAGA cheer when prices go up?
 
Thank god I'm 20 years from retirement and we'll (hopefully) have a democrat in office again who can actually do things that benefit the economy.
 
crandc said:
California produces most of the world's almonds and three fourths are exported. Trade war could cost farmers $875 million. Most of them voted for Trump. Cattle in California get feed from Canada so milk prices go up. Pharmaceutical industry gets 80% of starter material from China and India. Wood pulp for paper towels and toilet paper is Canadian. Higher prices and possibly Covid type toilet paper shortages.
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I’ve spent a bit of time in inland California. It is home to some of the biggest Trump supporting idiots I’ve ever met. Even places like Redding. I was shocked.

I know it’s harsh, but I hope they’re hit hardest by the dipshit President.
 
The US has a budget deficit. The solution for that is basically to increase income and/or decrease expenses.

The traditional way the US had income was with taxes and given the wealth gap in the US - that usually means higher taxes on the rich.

The Trump administration reduced taxes on the rich in the past - and increased the US's budget deficit significantly from the Obama years.

While the Trump administration is trying to reduce Government expenses - they are not touching the real big expense (defense) because they ran on support for defense, so they are limited in what they can save on expenses, naturally, they hurt the programs that hurt the poor and middle class.

They do not want increase taxes on the rich, so the only other option is the tariffs - which is basically a way to tax everyone that consumes - it's basically for the government to get money that does not come mostly from the rich - it's a tax on the middle and lower class... It's a nice way to paint the tax in a patriotic way in order to protect the rich from paying more direct taxes on the surplus of income they have by taxing the middle and lower taxes.

It's the normal grift.
 
I firmly believe that Trump has a plan to skim some of the tariffs right into his pocket.
 
Somehow (i.e., I shifted nearly everything I had in my 401(k) into Bonds after the election) I'm up 3% in 2025.

EDIT: actually down now but only 0.98%, which thank god because I'd be down 10% otherwise.
 
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Everything Beagle said:
Somehow (i.e., I shifted nearly everything I had in my 401(k) into Bonds after the election) I'm up 3% in 2025.
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I put most of mine in Bonds as well but my Taiwanese semi-conductor stocks today lost me money for the first time ever ...huge tumble. Actually thinking of buying low on more of them today because they'll pick up again. My overseas real estate stocks have performed well.
 
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STOCK MARKET HAS LOST $10 TRILLION SINCE INAUGURATION DAY...

CNBC CRAMER WARNS 'CRASH'...

SAUDI FIRST: TRUMP FOCUSED ON GOLF DURING SPIRAL...

'He Doesn't Give a F**k'...

Traders buying dips and getting burned...

PAPER: Astonishing act of self-harm...

Rush to Buy TVs, Soy Sauce, Workout Gear...

60% chance of a recession... MORE

USA hands China golden opportunity...

Commerce Sec. says 'EU hates our beautiful beef'...
 
riverman said:
I put most of mine in Bonds as well but my Taiwanese semi-conductor stocks today lost me money for the first time ever ...huge tumble. Actually thinking of buying low on more of them today because they'll pick up again. My overseas real estate stocks have performed well.
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In a couple of weeks the slaughter will be over, and buying the dip can mean more than just "Hidden Valley Ranch is all I can afford to eat."*

*it will still mean that, but at least I can move my money to international growth or something
 
So uh when does Congress find their balls and just impeach the dude? This is intentional crashing of the market and destruction of alliances. Not sure what more needs to be done to prove he doesn’t have Americas best interest in mind.
 
DaLong said:
So uh when does Congress find their balls and just impeach the dude? This is intentional crashing of the market and destruction of alliances. Not sure what more needs to be done to prove he doesn’t have Americas best interest in mind.
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What does impeachment do?
 
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