Trump's tariffs could reduce US deficit by $4 trillion, CBO estimates

quote:

WASHINGTON, Aug 22 (Reuters) - President Donald Trump's increased tariffs on U.S. imports from foreign countries could reduce the national deficit by $4 trillion over the next decade, the Congressional Budget Office estimated on Friday.

Biggest tax increase in history, pushed on to those who can least afford it.

Cost me a shit load just last week. Dumbest policy of my lifetime.

. . . so long as you realize it is coming out of your pocket, in America you are free to be stupid. I believe that a big slug (pun intended) of your MAGA cohorts still believe that other countries are paying the tariffs. Life is tough, tougher if you're stupid. Who would have thought, a "conservative" trumpeting taxes.

The truth in politics is that the left will tax the hell out of the people to enrich themselves and their supporters. The right will tax the hell out of the people to enrich themselves and their supporters.
Meanwhile, those who actually do the work and produce the wealth, will do the best they can to take care of themselves and their families.
Conservatives embrace tariffs because they mostly tax that working class, and that's OK! Regards, Bill

Lane's gonna help pick the money off trees in Brazil

If I remember right the BBB was forecast to increase the debt by 3 trillion. So now the tariffs will decrease the national debt by 1 trillion.

I guess that's good, the debt has to be paid and I'm an American so I suppose ill have to chip in my share with the Tariffs.

Trump was never a fiscal conservative, not ten years ago and not today.

quote:

Originally posted by MJines:
. . . so long as you realize it is coming out of your pocket, in America you are free to be stupid. I believe that a big slug (pun intended) of your MAGA cohorts still believe that other countries are paying the tariffs. Life is tough, tougher if you're stupid. Who would have thought, a "conservative" trumpeting taxes.

Sounds like an "optional" tax IMO.

. . . optional only if you never have to or want to buy anything from another country.

you do not need anything from anywhere except from your own country very simple ...

quote:

Originally posted by ledvm:
Trump's tariffs could reduce US deficit by $4 trillion, CBO estimates

quote:

WASHINGTON, Aug 22 (Reuters) - President Donald Trump's increased tariffs on U.S. imports from foreign countries could reduce the national deficit by $4 trillion over the next decade, the Congressional Budget Office estimated on Friday.

You keep forgetting that tariffs are paid by the importer and ultimately the consumer as the price increases are passed on. Yes, money accrues to Washington but it comes from consumers. So the deficit may go down but the average American is paying for the deficit reduction. TARIFFS ARE PAID BY ANYONE WHO SPENDS MONEY ON CONSUMER GOODS…. simple but apparently confusing to Trumpiteers.

It looks to me like these tariffs greatest effect will be to make the mega rich richer at the expense of the rest of the population.

The top 0.01% will do very well; they’ll just pass it on to consumers. It should work to reduce the deficit and even the debt - until the well runs dry.

It’s reminiscent of the Putin model. The 0.01% will have all of the wealth, the rest will have potatoes (in a good year), vodka to numb their senses, and the military for a potential career.

quote:

Originally posted by Scott King:
If I remember right the BBB was forecast to increase the debt by 3 trillion. So now the tariffs will decrease the national debt by 1 trillion.

I guess that's good, the debt has to be paid and I'm an American so I suppose ill have to chip in my share with the Tariffs.

Trump was never a fiscal conservative, not ten years ago and not today.

If I read it right the increased revenue should reduce primary deficits by 3.3 trillion and that then adds a further 0.7 trillion in reduced interest in servicing the reduced debt over 10 years.

The BBB bill is forecast to increase the debt by 3.4 trillion over 10 years.

They pretty much cancel out ... but it's the US importer who is paying the 3.3 trillion ... possibly passed on to the end purchaser. So it's a tax cut largely offset by a tax increase. Prob just who is paying and who is benefiting would be worth scrutiny.

quote:

Originally posted by Steve Bertram:
Biggest tax increase in history, pushed on to those who can least afford it.

Cost me a shit load just last week. Dumbest policy of my lifetime.

For me Steve, it was a dream come true it has forced a lot of medical supplies and devices back into US production like it was in the early 2000s and we are back getting better quality supplies and a more stable supply line. I believe you are an exception.

quote:

Originally posted by MJines:
. . . so long as you realize it is coming out of your pocket, in America you are free to be stupid. I believe that a big slug (pun intended) of your MAGA cohorts still believe that other countries are paying the tariffs. Life is tough, tougher if you're stupid. Who would have thought, a "conservative" trumpeting taxes.

Paying off the debt IS going to come out of our pockets and it has got to be done. For my business structures and wealth multiplying strategies…Trump’s plans are by far the best.

I believe the new analysis accounts for the BBB and it not a cancellation.

quote:

Originally posted by ledvm:
Trump's tariffs could reduce US deficit by $4 trillion, CBO estimates

quote:

WASHINGTON, Aug 22 (Reuters) - President Donald Trump's increased tariffs on U.S. imports from foreign countries could reduce the national deficit by $4 trillion over the next decade, the Congressional Budget Office estimated on Friday.

How big is the resulting deficit? Are we saving for our future yet, or investing for it?

I hope SCOTUS throws his tariffs in the shitter where they belong.