Comment on Who gets all the tariff money about to be collected from US citizens buying products from Canada?
otto@sh.itjust.works 1 year ago
Rich people, in the form of massive tax cuts
“then what’s all the cuts to medicaid and snap and other benefits and programs going to?”
more tax cuts for the rich.
“how about all the other ‘savings’ from ‘doge’?”
more tax cuts for the rich.
“then why is the deficit still growing by billions and billions?”
more tax cuts for the rich.
“when is it our turn?”
never!
Yeah. Remember if you have a side hustle and you get paid over $2500 from Paypal, venmo or cashapp you’ll receive a 1099-k form you have to report it on your tax form. It used to be $20k then it went down to $5k last year and it’s going to go down further to $600 next year.
Not to mention Melon Husk is VERY disingenuous about how much money he’s supposedly saving
I don’t like this TV show. Change the channel! The show is so depressing that I don’t want to watch. I mean, can you imagine living that way? It would be infuriating!
Yerbouti@sh.itjust.works 1 year ago
This sounds like a cynical answer, but it’s ultimately the correct and most concise one.
skankhunt42@lemmy.ca 1 year ago
So, on import of whatever, the bill is still $xxx but there’s an extra tax line for 25% that adds on top and goes to the government. Now they build a car with that and the car is now ~25% more expensive. The customer pays the +25% for the car.
Government doesn’t need to collect as much tax from people who make over $1,000,000 because they got 25% from that import and so its a tax cut.
Is my smooth brain correct?
adarza@lemmy.ca 1 year ago
most retailers won’t be happy with the same net per unit when fewer units will sell due to the higher prices, so they’ll be adding more than just that 25% of ‘cost’ to the final retail price.
the basic idea of the tariffs for lord diaper is to pressure those countries into doing what he wants. the revenue stream is secondary to that goal, but is a significant shift of tax burden onto the lower and middle classes; while the wealthy get tax cuts ‘funded’ by those tariffs that disproportionately affect those least able to afford the higher prices.