Be kinde to folk. This changeth the whole habitat.
- Manlobbi
Halls of Shrewd'm / US Policy
No. of Recommendations: 5
President Trump wants to impose 15% tariff, up from 10% he announced after Supreme Court decision
WASHINGTON – President Donald Trump said Saturday that he was raising the global tariff he wants to impose to 15%, up from 10% he had announced a day earlier.
Trump said in a social media post on that he was making the decision “Based on a thorough, detailed, and complete review of the ridiculous, poorly written, and extraordinarily anti-American decision on Tariffs issued yesterday,” by the U.S. Supreme Court.https://www.clickondetroit.com/news/politics/2026/...Why don't you make it 50%, really punish everyone, for you not getting your way?
Steve
No. of Recommendations: 4
Why don't you make it 50%, really punish everyone, for you not getting your way?This report says that 15% is the max allowed under Section 122.
BREAKING: Trump increases new tariffs from 10% to 15% in wake of SCOTUS defeathttps://www.youtube.com/watch?v=m96pSzKVi4I...because we are victims....God on Earth Trump is King of Victims.
/sarcasm
Steve
No. of Recommendations: 11
AW in post 71605:
Good news: Should help reduce inflation rate.
From Steve203’s post:
President Trump wants to impose 15% tariff, up from 10% he announced after Supreme Court decision
My bad. I overestimated just how ignorant, petulant, and self-destructive Trump is.
No. of Recommendations: 3
Steve,
As the Supreme Court has just ruled (admittedly I haven't bothered to read the opinion or a summary of it, but this is what I've heard is the basic reasoning), tariffs are a tax.
According to progressives, taxes are GOOD.
More taxes means more income for the government.
Also, they are a form of consumption tax. That's a GOOD kind of tax, if any taxes are "good." Like a value added tax.
Taxes on income and production are not good because they stifle growth and productivity.
Taxes on consumption (again if any taxes are "good") are good because they re-direct non-productive consumption activity to lesser-taxed activities such as investment.
Asserting that somehow tariffs are "regressive" isn't really relevant even if true. FICA is regressive and it's by far the biggest tax that about 50% of the working class population has to pay. Further, it takes from younger workers to subsidize older retired folks who tend to be richer.
So please let's not talk about "regressive" O.K.?
Also, tariffs force choices. If I have an extra $1,000 or let's say $10,000 laying around, and I want to buy "stuff," I can only buy $8,500 of "stuff," the rest is tariff/taxes.
So maybe instead I will only spend $5,000 on stuff including the tariffs, and INVEST the other $5,000.00.
Which is better for the economy?
No. of Recommendations: 7
As the Supreme Court has just ruled (admittedly I haven't bothered to read the opinion or a summary of it, but this is what I've heard is the basic reasoning), tariffs are a tax.
I would agree, tariffs are a tax.
More taxes means more income for the government.
Government is not an investment vehicle. Government is a redistribution vehicle.
Taxes on income and production are not good because they stifle growth and productivity.
"supply side" propaganda, which we have been fed for 40 years.
Taxes on consumption (again if any taxes are "good") are good because they re-direct non-productive consumption activity to lesser-taxed activities such as investment.
What part of Prole spending is "non-productive"? Food? Housing? Clothing?
What part of "JC" spending is "non-productive"? The lowest taxes are not from productive endeavor, corporate tax rate 21%, but from financial speculation, 0% tax on cap gains until the investment is sold.
Which is better for the economy?
Some 70% of the US economy is consumption, mostly by Proles, because there are so many of them. Make stuff more expensive, so that consumption shrinks, and large segments of the economy that produces actual products and services, shrinks.
Steve
