JD Vance: Tariffs are an Overdue Escape from Globalist Pathway

[Bobby Bucks]

The internationalist politicians, corporations and news organization are screaming. Seems they don't care about the US long term. The ones who are screaming the loudest tells me all I need to know.

Vance Defends Trump Tariffs as Overdue Escape from ‘Globalist Pathway’ as Markets Plummet | National Review

The Dow dropped more than 1,200 points on opening Thursday morning.

www.nationalreview.com

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[George Hatch]

If true........

 

[Mike Ault]

I'm hoping his tariffs are successful and return manufacturing to the United States. I'm also hoping they are not simply a smokescreen for this…

Can Trump replace income taxes with tariffs?​

https://www.piie.com/blogs/realtime-economics/2024/can-trump-replace-income-taxes-tariffs

 

[Bobby Bucks]

I'm hoping his tariffs are successful and return manufacturing to the United States. I'm also hoping they are not simply a smokescreen for this…

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IMO that's what it's all about, a 20 year plan to reverse the damage inflicted by those who sold us out. Ross Perot was ridiculed for talking about the "giant sucking sound" of US jobs leaving. Anyone who is from or lived in a small manufacturing town knows how true it was.

 

[glenn walker]

Historically the United States was founded on Tariffing other Nations who paid us for our production of goods and that's how we financed the Government and military. The income tax was enacted to replace foreigners paying and putting the burden on individuals on their labour. So not only did we screw the laboror by lower wages we also taxed it.

The globalist elites lead by the Clintons and Bushes goal was a one world government and the elimination of the United States being a Sovereign Nation which included International Law and courts.

What we are seeing is the dismantling of Globalization and that's why Western Europeans and NATO are freaking out. Without us their woke fairytale is over.

 

[ucbruin]

IMO that's what it's all about, a 20 year plan to reverse the damage inflicted by those who sold us out. Ross Perot was ridiculed for talking about the "giant sucking sound" of US jobs leaving. Anyone who is from or lived in a small manufacturing town knows how true it was.

Who voted for Ross....
Besides me....

 

[alebrewer]

The income tax was enacted to replace foreigners paying and putting the burden on individuals on their labour. So not only did we screw the laboror by lower wages we also taxed it.

Income should NEVER be taxed.

 

[glenn walker]

Income should NEVER be taxed.

Exactly and especially physical labor because the traditional laboror was physically shot by 40 years old. Even today most I know spend their last 15 years with physical disabilities.

 

[alebrewer]

Exactly and especially physical labor because the traditional laboror was physically shot by 40 years old. Even today most I know spend their last 15 years with physical disabilities.

There's an intrinsic reason as well. When income is taxed, there is disincentive to produce. You'll see this in real life if you look at the tax rate margins. Salaries tend to be bunched just below a higher tax bracket. Result: production is disincentivized by taxation. That's why it is ALWAYS better to tax consumption rather than income. When consumption is disincentivized, savings is incentivized - resulting in a lower cost for loanable funds - which results in more investment. Its not rocket science.

 

[J Grant]

NYT -For three years, the U.S. economy has been buffeted by rapid inflation, high interest rates and political instability at home and abroad. Yet it has proved surprisingly resilient, supported by the sturdy pillars of robust consumer spending, a rising stock market, and healthy balance sheets for households and businesses alike.

But one by one, those pillars have begun to crack under the weight of tariffs and uncertainty. The all-out global trade war that President Trump declared on Wednesday could be enough to shatter what had arguably been the economy’s final source of support, the strong job market.

“The strength of the consumer is coming down to the jobs market,” said Sarah House, an economist at Wells Fargo. “And it’s increasingly perilous.”

The sweeping tariffs that Mr. Trump announced on Wednesday, and the duties that U.S. trading partners quickly imposed in retaliation, sent stock indexes around the world tumbling on Thursday. The effects won’t be limited to the financial markets: Economists say tariffs will raise prices for consumers and businesses, which will lead employers to pull back on hiring and, if the tariffs remain in place long enough, lay off workers.