this post was submitted on 13 Aug 2024
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United States | News & Politics
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I think he specifically said to eliminate all income tax and raise the revenues with tarrifs, which gets every American with two brains cells on economics to think "uh yeah... that makes sense" but every economist to scream "oh God no!". I think every economist who has commented has gone hard against him in that.
Tariffs instead of tax makes sense?! Consumers pay tariffs in increased prices. This is the most inflationary shit imaginable and would be the biggest transfer of taxation from rich to middle class and poor in the history of the USA. This is a billionaire's wet dream. No wonder Musk has the hots for Diaper Don all of a sudden. Wow.
They make sense to people who don't think. They stop thinking when you say "it will encourage our own production" and never start thinking again. As I said every economist is horrified, but if you stop thinking when you start thinking it's a clever way to protect your own manufacturing, it seems to you (a fool if you think that way) clever. There are not a lot of things more dangerous than a fool who believes he's clever.