The Trump administration this week stepped up its ambitious effort to replace about $1.6 trillion in lost tariff revenue that was eliminated by the Supreme Court’s decision to strike down a range of the president’s import taxes.
Recovering that lost revenue, which the White House was counting on to help offset the steep, multi-trillion dollar cost of its tax cuts, is possible but will be challenging, experts say.
The administration has to use different legal provisions to impose new duties, and those provisions require longer, complex processes that U.S. companies can use to seek exemptions. It could be months or more before it is clear how much revenue the replacement tariffs will yield.
And so, by “tariffs”, we mean regressive taxes on everything people buy.
If you’re paying for tax cuts with new taxes, that’s called wealth transfer. You’re telling us exactly who you think should have less money and who you think should have more.
Remember how the cons would piss and moan about how Obama’s admin should “not pick winners and losers”?
Do these sister-fuckers not realize that’s what most of politics is about, including things like trade agreements and tax policy? Do they really think Republicans aren’t out to funnel even more money to the already obscenely wealthy and take more money from the lowest tax brackets in the process? They really seem to think that constantly punching down is not picking winners and losers…/facepalm
By taxing Americans
Yeah, but it’s ok, it’s not the rich Americans.
It’s cool because it’s a regressive tax.
but we can’t afford healthcare.
or basic services.
‘Have you tried not being poor?’ - this administration
