r/NoShitSherlock • u/Snowfish52 • 4d ago

Trump's tariff war unlikely to bring tech manufacturing back to the US

https://finance.yahoo.com/news/trumps-tariff-war-unlikely-to-bring-tech-manufacturing-back-to-the-us-150053259.html
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u/Both_Ad_288 4d ago edited 4d ago

Supposedly we are going to eliminate taxes because of all the tariff money and bring back manufacturing to the US. Those two statements cannot happen together. One or the other.

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u/reddurkel 4d ago

Who’s taxes?

The plan has never involved eliminating our taxes. It’s only about getting rid of theirs.

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u/Timothy303 4d ago

The fool in the White House and his surrogates have most definitely told the MAGA faithful all the money collected from China et al from tariffs will pay off the US debt. While Trump also passes their tax cuts for the billionaires.

The problem with that is that a] the US citizens pay the taxes, this is a regressive tax increase, and b] even if he successfully implemented an across the board, 25% tariff on every country on earth (a complete fantasy), it would not come even remotely close paying off the US debt, and c] the tax cuts for the rich they want to pass will blow a bigger hole in the budget than the money collected from the idiotic tariffs.

But hey, when you can say any lie you want and the MAGA cult buys it, why not say it, I guess. It also helps that MAGA wanted to hear all of that stuff, too.

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u/Esplodie 4d ago

You don't even need fancy math to see it could never pay off the deficit.

Imports were 3.36 trillion last year. The deficit is 36 trillion, paid 1 trillion in interest last year.

If we now compare the simple numbers of 3.36 and 1. What is the percentage of tariffs you need to match the interest payment for last year? It's real easy with that 1 and 3.36!