The incumbent has claimed repeatedly that there will be 10% tariff on all foreign goods. We can certainly bury our heads in the sand and pretend it’s not happening, but that doesn’t really do us much good.
Either he lies all the time or he tells the truth, can’t have both. I’d love to try elimination of the income tax in exchange for tariffs but there’s no way it’s going to happen despite whatever campaign promises were made.
To expand on this, it’s laughably stupid because it disproportionately affects the poor. When everybody pays the same tax, poor people have to be taxed significantly more. Same rate of taxation on 35k and 200k, the person earning 200k can easily afford things like food and housing and a luxury car whereas the person making 35k would be pressed just to afford the increased prices on things like groceries and other necessities that tariffs bring. Not to mention that a 10% tariff would not support our budget, and that tariffs are intended to boost domestic manufacturing. When that does occur, the budget starts getting less and less because the US is no longer raking in the tariff cash.
Basically, 20 seconds of thought could tell anybody that this is a terrible idea.
