jumping on Nostr: I don’t know what I’m talking about but here’s my thoughts on trumps economic ...
I don’t know what I’m talking about but here’s my thoughts on trumps economic plan.
Tariffs hurt everyone in the short term. Prices of most things in America will go up and people will suffer. But that’s only in the short term. In the long term American companies will have an advantage over other countries and more things will be made in America.
This will only work if he does eliminate income tax and lessen capital gains or other taxes. Prices will go up but Americans will be able to earn more, and in the long term prices on American made things will go down bringing jobs and prosperity.
American businesses will also suffer since other countries will retaliate with tarrifs to the US. American products are already expensive for most of the world.
Tarrifs are not ideal, but I’d rather he eliminate other taxes that only hurt Americans and replace that income with tarrifs while also making the government smaller.
But who knows if any of this sticks since people are going to be angry they are paying 20% more for things in a very short time. The next leftist politician will run on removing tarrifs which is very seductive to the average person who does not understand inflation. Then we will end up in the same place we were again.
🤷♂️
Tariffs hurt everyone in the short term. Prices of most things in America will go up and people will suffer. But that’s only in the short term. In the long term American companies will have an advantage over other countries and more things will be made in America.
This will only work if he does eliminate income tax and lessen capital gains or other taxes. Prices will go up but Americans will be able to earn more, and in the long term prices on American made things will go down bringing jobs and prosperity.
American businesses will also suffer since other countries will retaliate with tarrifs to the US. American products are already expensive for most of the world.
Tarrifs are not ideal, but I’d rather he eliminate other taxes that only hurt Americans and replace that income with tarrifs while also making the government smaller.
But who knows if any of this sticks since people are going to be angry they are paying 20% more for things in a very short time. The next leftist politician will run on removing tarrifs which is very seductive to the average person who does not understand inflation. Then we will end up in the same place we were again.
🤷♂️