• satanmat@lemmy.world
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    1 month ago

    Wow. I used to think he just couldn’t stop lying about tariffs…

    But now I’m convinced he has NO idea what they are or how they work… NONE

      • shittydwarf@sh.itjust.works
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        1 month ago

        “Donald Trump was the dumbest goddamn student I ever had.” - Professor William T. Kelley, Wharton School of Business and Finance

        • DogPeePoo@lemm.ee
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          1 month ago

          “This guy is a fucking Moron…”

          —Rex Tillerson, Trump’s handpicked (first) Secretary of State

        • Ledericas@lemm.ee
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          1 month ago

          and his dad the equally reprehensible fred trump, had to donate a significant amount to get him into his “2nd rate school”

    • givesomefucks@lemmy.world
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      1 month ago

      That’s the thing about spending 70 years lying and having someone else fire anyone that disagrees…

      You start believing it all.

      Same shit happened to Elon and loads of other rich people, they stop getting real feedback and understanding that they’re being lied to.

      The honestly believe their own bullshit, and they just don’t know how to react to the truth.

      We saw it with the interview about the ms13 tattoo, trump doesn’t even know how to argue anymore, he’s used to everyone just agreeing with him, so when they don’t his only argument is “why aren’t you saying what I want you to say, do you not understand what I want you to say?”

      Because that’s the only time they hear what they dont want to; when the person talking to them is confused about what they want to hear

    • dalekcaan@lemm.ee
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      1 month ago

      I was convinced of that from the start. The language he used, I’m pretty sure he’s under the impression that the country you levy a tariff against is the one that pays it. Basically “make Mexico pay for the wall” part 2.

      • satanmat@lemmy.world
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        1 month ago

        Yep. Somehow, someway; he got the impression that because "goods from China " get hit, that China pays to send it here…

        And as someone else posted; he’s surrounded by people who ONLY agree with him. None of his people are correcting him…

        We’re so boned

    • Ledericas@lemm.ee
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      1 month ago

      he treats them like his court cases, he thinks tariffs are a way to bully people to do what you want. he has no idea the economic implications of it. also hes doing it as a behest to putin.

      • jj4211@lemmy.world
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        1 month ago

        I think he at least roughly understands the economic implications, he just doesn’t care. He’ll just crack to the rhetoric, blame everyone else for the problems, and assume his fan base will eat up every word and let him continue.

        Falling that, he just goes all in on ignoring elections and count upon the system to let him do that like it’s a woman with a pussy to grab.

  • Billiam@lemmy.world
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    1 month ago

    Walmart made BILLIONS OF DOLLARS last year, far more than expected.

    Under Joe Biden’s absolutely terrible, awful, most baddest saddest America-lastest economy?

  • MolecularCactus1324@lemmy.world
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    1 month ago

    What the fuck do you think businesses are gonna do? Their costs went up. Planet Money podcast had an interview with a small business owner that had to pay the 145% tariff on her imports ordered before the tariffs went into effect. On a $30,000 shipment, that’s an extra $43,500. You think businesses are gonna keep prices the same and eat that? They will go bankrupt.

    • Mog_fanatic@lemmy.world
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      1 month ago

      This is one of the most glaring problems with tariffs. Companies raise their prices and the tariff becomes basically a tax on the people. But within that is hidden the fact that gigantic companies can often hold off on raising prices because they have the money to deal with it in the short term and the massive markets to pull in discounted prices from suppliers. The result is humongous businesses like Walmart keep their prices low through the tariffs while your mom and pop shop down the street has no choice but to raise prices or go out of business cause they don’t have the kind of margins bigger companies do. They raise their prices, everyone flocks to huge businesses like Walmart who kept their prices lower, then mom and pop close up shop cause they aren’t selling anything at the higher prices. Then Walmart can do whatever they want cause they just tagged tariffs into the ring and murdered the competition. Tariffs have their place but they largely suck ass in a multitude of ways.

  • wolfarine@lemm.ee
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    1 month ago

    So the “elected” government is trying to control prices? Isn’t that the definition of socialism?

  • TomMasz@lemmy.world
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    1 month ago

    If he’s supposed to be such a great businessman, why is he angry over this? This is exactly what a business does in a tariff situation. No business willingly reduces its margins, it just passes the costs onto the customer.

  • YangChow@lemm.ee
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    1 month ago

    Why not refund the taxpayers cost of tariffs from the tariffs collected? Tariffs are being broken out on invoices, file the tariff tax as deductions on 1040’s. It would be a wash for the taxpayers.

    • TheBloodFarts@lemmy.ca
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      1 month ago

      Well you see the problem here is that you’re using your brain and well we just can’t be having that

    • jj4211@lemmy.world
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      1 month ago

      That seems convoluted but also as stated it wouldn’t be a wash.

      A deduction means pretend that portion of income never existed and the taxable portion of it is not charged.

      Then generally the deduction has to be above the standard deduction to make sense to use, and the standard deduction is just so high nowadays.

      So if you claimed a hypothetical deduction of 1,000, then you reduce your tax burden by only 200 or so, assuming you otherwise had like 20 some odd thousand in deductions to get you close to the standard deduction.

      The only way it would be a wash is if it were a refundable tax credit with no qualifications, and that almost never happens for anything. I could imagine a non refundable credit that would make it a wash for anyone with sufficient tax liability.

      However, this would make the tariffs an utterly pointless needless complication, needing a whole lot more accounting by sellers and consumers just to get to a similar and simpler position of not doing the tariffs in the first place.

    • pacology@lemmy.world
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      1 month ago

      The goal seems to be replacing of federal income tax with import tariffs (like it was in the 1800s). The flat rate they set could collect as much as the income tax if import levels stay the same. Also, some of the stats shared by the administration early on on collections per day would multiply up to the total income tax collected. Writing them off would be counterproductive.

      The only downside with consumption taxes is that they are regressive. People in the lowest income levels will end up paying more percentage richer people because there is so much that rich people can consume from overseas vs poorer people.

  • BigMacHole@lemm.ee
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    1 month ago

    The Waltons didn’t spend MILLIONS OF DOLLARS ELECTING TRUMP just so he’ll YELL at Them! MAYBE with a Couple More Million he’ll STOP IT!

  • untakenusername@sh.itjust.works
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    1 month ago

    doesnt sound very free market to me

    if they raise prices because they have to, thats just normal

    if they raise prices because they can get away with it, thats kinda nasty though

    • finitebanjo@lemmy.world
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      1 month ago

      Ironically, the Economy was one of the number one concerns among voters during the election. People blamed Biden for the stores raising prices, while the Biden admin actually investigated major grocers over artificially high prices, and then elected Trump who is actually responsible for raising prices.

    • IhaveCrabs111@lemmy.world
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      1 month ago

      Captain dipshit said he’ll be watching and so will the customers. So? The price will go up from the tariffs. It’s like he struggles to be this much of a moron. I feel like he’s so stupid that I get dumber every time I have to listen to him talk.

      • collapse_already@lemmy.ml
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        1 month ago

        Remember when his business school professor said he was the dumbest student he ever taught? Looks prophetic.