I’m sorry but the NYT is spot on. If the economy doesn’t crater, it’s more than likely that the tariffs become a permanent part of the US tax regime
Replies
Especially given the US' deficit and political aversion to increasing income taxes.
aug 3, 2025, 10:37 pm • 13 1 • view
I mean, we already saw this in the last administration bsky.app/profile/phil...
aug 3, 2025, 10:38 pm • 3 0 • view
Exactly. I mean, even the Dems say ~$250K is the floor for for tax increases. So, like, an ass backwards VAT is like the only option
aug 3, 2025, 10:40 pm • 10 0 • view
Yeah, this is a way of smuggling a consumption tax through the back door fundamentally.
aug 3, 2025, 10:41 pm • 7 0 • view
Nah, I think the next Democratic president is going to take the free GDP boost.
aug 3, 2025, 10:46 pm • 3 0 • view
How many of the Trump era tariffs did Biden rollback?
aug 3, 2025, 10:47 pm • 2 0 • view
That's your comparison? Some steel tariffs as a sop to Labor? That's extremely different from the tariff regime Trump just installed.
aug 3, 2025, 10:50 pm • 2 0 • view
I think Trump distorted your scale here. When he pledged the 10% tariffs, everyone knew it was bad for the economy; then he did Liberation Day, just to back off back to 10%. That may make the clowns at the NYT think Trump "moderated" on tariffs but the next Dem is going to take the free win.
aug 3, 2025, 10:51 pm • 2 0 • view
Given that raising income tax in America is basically impossible - I think, all things being equal, a baseline rate tariff of 10-15% going to be the norm
aug 3, 2025, 10:54 pm • 2 0 • view
right, yeah, the basic issue is that you have essentially given up on democracy entirely and are casting about for something to replace it
aug 3, 2025, 10:59 pm • 4 0 • view
Maybe also a domestic tariff on all goods and services then it's not discriminatory against imports
aug 3, 2025, 11:01 pm • 1 0 • view
Sorry you feel that way. Hope you get better.
aug 3, 2025, 11:20 pm • 0 0 • view
I see you're unaware of just how big the difference is between 2024 and 2025 effective tariff rates. You should look into that.
aug 3, 2025, 10:49 pm • 5 0 • view
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aug 4, 2025, 3:49 pm • 0 0 • view
Much like making ICE a giant domestic military, tarrif revenue will be extremely difficult to rollback. Anything like that will only be possible in a crisis environment a la Argentina.
aug 4, 2025, 8:53 am • 0 0 • view
This is the ultimate irony. The ant tax party is taxing the f out of the American people via tariffs.
aug 3, 2025, 10:49 pm • 5 1 • view
I’m always saying, if there is one thing Congress never does, it’s lower taxes
aug 3, 2025, 10:46 pm • 3 0 • view
They don’t understand that the federal government doesn’t need “new sources of revenue” FFS it is the sole source of US dollars.
aug 4, 2025, 12:51 am • 0 0 • view
I'm thinking the economy has a better chance of cratering than not.
aug 4, 2025, 5:09 pm • 0 0 • view
If protectionism made zero political sense from any perspective, it wouldn't be a dangerous economic approach because nobody would ever do it.
aug 3, 2025, 10:46 pm • 3 0 • view
Yep, and to the extent that tariffs do shift some limited production to the US, they create a constituency for keeping them. “I just invested $20m in this new plant which will go bust if tariffs are removed “
aug 4, 2025, 10:05 am • 1 0 • view
Yep cos the tariffs are to pay for tax cuts
aug 4, 2025, 6:04 am • 1 0 • view
If tariffs stay for more than a year then removing them would be disinflationary, and nobody wants deflation...
aug 3, 2025, 10:43 pm • 6 0 • view
Even if..
aug 3, 2025, 10:37 pm • 1 0 • view
OTOH US Tariffs become symbolic of what is fiscally required to let the wealthy have a tax break. High tariffs (anywhere) become a symbol for inequality and cushioning of the rich.
aug 4, 2025, 2:12 pm • 0 0 • view
It’s an attempt at implementing a regressive tax which results in the poor and middle classes paying more while the rich aren’t impacted much.
aug 3, 2025, 10:47 pm • 3 0 • view
Biden did indeed continue some of Trump 1.0 tariffs. Some Trump 2.0 tariffs may well continue, but I can’t foresee a shift from an average level of 2 to 3% to 15% being sustainable.
aug 3, 2025, 10:46 pm • 3 0 • view
I mean, they are hurting the economy though
aug 3, 2025, 10:44 pm • 6 1 • view
I'm afraid economic rationality is heavily discounted.
aug 3, 2025, 10:46 pm • 0 0 • view
How many of the Trump era tariffs did Biden rollback?
aug 3, 2025, 10:45 pm • 3 0 • view
Does linear time exist in your theory?
aug 3, 2025, 10:46 pm • 10 1 • view