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Presidential Election 2024

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Rain Cold said:
This post and the one from Downeast proves a lack of understanding of basic economics, and greatly reduced your credibility on this issue.

Do you think people with over $100 mm have it all under their mattresses? What do you think will happen when Uber wealthy people, institutions, financial entities, etc. have to start paying taxes on all of their unrealized g/l? Lol you've got to be kidding
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I mean I guess they will have to sell one of their 17 yachts and maybe one of there 29 vacation homes. Possibly cancel a few trips to Vegas on their private jets. I’ll put up a little memorial in my home and thank them for their sacrifice every day before I go to work my 45hr a week job 🤷🏻‍♂️
 
Chattownsnow said:
Do you have a net wealth of over 100 million dollars? Because that’s who it applies to. done. Now you’re up
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That may true, but they will just pass all of this off on all of us. The Democrats know this. Bottom line is that it is a tax on ALL of us.
 
Chattownsnow said:
I mean when you dig down

I think they will FINALLY be paying taxes at a percentage that reflects what you and I actually pay. That’s what I think
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I think is a great example of why listening to and voting on msm talking points and headlines is a mistake is why we are in the the sad shape we are as a society.
 
Chattownsnow said:
I mean those taxes would go to things taxes go to. I don’t foresee that really harming multimillionaires a whole lot. I see it benefitting us. Unrealized gains for them are on stocks, ect. That almost never sold and just inherited by whatever firm they own or past on to some other holding company. They make money from dividends and selling and diversifying and reallocated funds based on market patterns and what-not.
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Do you know why nobody F'd with us when Trump was president? Because they know he doesn't BS. Tariffs can work the same way.
 
Chattownsnow said:
I mean when you dig down

I think they will FINALLY be paying taxes at a percentage that reflects what you and I actually pay. That’s what I think
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If it is on corporations, they will just pass all of this down to all of us. They will not pay an extra dime in the end.
 
Chattownsnow said:
Show me? You have statistics? Because I do.

“Before accounting for behavioral effects, the $79 billion in higher tariffs amounts to an average annual tax increase on US households of $625. Based on actual revenue collections data, trade war tariffs have directly increased tax collections by $200 to $300 annually per US household, on average. Both estimates understate the cost to US households because they do not factor in the lost output, lower incomes, and loss in consumer choice the tariffs have caused” https://taxfoundation.org/research/all/federal/trump-tariffs-biden-tariffs/
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Now you're moving the goal posts.

You made the claim that Trump's tariffs would lead to an economic downturn and high infation.

That is, on its face, a baseless claim per historical data under Trump between January 2017 and February 2020.
 
JHS said:
That may true, but they will just pass all of this off on all of us. The Democrats know this. Bottom line is that it is a tax on ALL of us.
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That’s what I’m saying with the tariffs. The cost of goods are paid by the USA companies bringing them in. They raise the price and we pay the difference. That’s why it’s dumb. Harris also wants to create a panel to investigate price gouging by companies, but that’s another thing. The great thing about this tax on unrealized capital gains is that you are right, they will try and pass that on to us. But in America there is competition in a capitalist market. Those owning small businesses and making under 100m a year have a chance to offer goods and services CHEAPER than them or at least competitively. These are people in the USA selling services HERE. Tariffs interfere and make ALL of these people suffer both the 100m makers and smaller business both importing over seas. THATS THE KEY DIFFERENCE.
 
NorthDFWwx said:
Now you're moving the goal posts.

You made the claim that Trump's tariffs would lead to an economic downturn and high infation.

That is, on its face, a baseless claim per historical data under Trump between January 2017 and February 2020.
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Tariffs like he is proposing have never been implemented at the scale he is proposing unless you go WAY back to like the early 1900’s and 1800’s when this was the United States main source of income. Taxes on people were far less. No state or income taxes because most of the income came from these tariffs. Now do that, and keep the taxes we have now? Now you have a problem
 
Chattownsnow said:
That’s what I’m saying with the tariffs. The cost of goods are paid by the USA companies bringing them in. They raise the price and we pay the difference. That’s why it’s dumb. Harris also wants to create a panel to investigate price gouging by companies, but that’s another thing. The great thing about this tax on unrealized capital gains is that you are right, they will try and pass that on to us. But in America there is competition in a capitalist market. Those owning small businesses and making under 100m a year have a chance to offer goods and services CHEAPER than them or at least competitively. These are people in the USA selling services HERE. Tariffs interfere and make ALL of these people suffer both the 100m makers and smaller business both importing over seas. THATS THE KEY DIFFERENCE.
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Fair enough, that sound like it would be good thing.
 
Chattownsnow said:
Tariffs like he is proposing have never been implemented at the scale he is proposing unless you go WAY back to like the early 1900’s and 1800’s when this was the United States main source of income. Taxes on people were far less. No state or income taxes because most of the income came from these tariffs. Now do that, and keep the taxes we have now? Now you have a
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Sandbar said:
Do you know why nobody F'd with us when Trump was president? Because they know he doesn't BS. Tariffs can work the same way.
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They didn’t have to F with us the way to traditionally do because all they had to do was tell Trump he has an amazing golf swing and he was the smartest guy they knew and he would roll over and let them do whatever the hell they wanted. He has literally said it himself lol
 
Chattownsnow said:
They didn’t have to F with us the way to traditionally do because all they had to do was tell Trump he has an amazing golf swing and he was the smartest guy they knew and he would roll over and let them do whatever the hell they wanted. He has literally said it himself lol
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The easiest man on planet earth to manipulate.
 
Rain Cold said:
This is hilarious
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I mean I get your concern and I think most of us have the same concerns but just differ on how we solve them. I don’t agree with you and you don’t agree with me and you probably have some good points in a lot of areas that I may not understand quite as well as you. I’m no expert on economics but I did go to college and take courses on it because it interested me. From my knowledge this is how I see it and a lot of very smart economist see it the same way. I’m choosing to believe them. The people I know saying trumps plans are good… either don’t know anything about the subject those plans occupy, or are major outliers. And I’ve never believed a DGEX map I’ve seen. But they do score a coup every once and a while 🤷🏻‍♂️
 
Chattownsnow said:
Tariffs like he is proposing have never been implemented at the scale he is proposing unless you go WAY back to like the early 1900’s and 1800’s when this was the United States main source of income. Taxes on people were far less. No state or income taxes because most of the income came from these tariffs. Now do that, and keep the taxes we have now? Now you have a problem
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Trump already proposed an option to remove the federal income tax and use tariff money in place of it. Will the others, even with a Republican controlled Congress pass it? No.

I think people are failing to realize that even with a Trump presidency and a chance of full Congressional control, the swamp and for life politicians will still work against him. Mitch McConnel, I'm looking at you.
 
$alt said:
Trump already proposed an option to remove the federal income tax and use tariff money in place of it. Will the others, even with a Republican controlled Congress pass it? No.
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This is true and could offset some of the increased cost associated with these tariffs. Unfortunately I don’t think he even understands any of that but it would help at least in that way
 
Chattownsnow said:
This is true and could offset some of the increased cost associated with these tariffs. Unfortunately I don’t think he even understands any of that but it would help at least in that way
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He would be the only person that would try to do something like that. I don't know if you could do it the government is so big compared to 1900.
 
Chattownsnow said:
This is true and could offset some of the increased cost associated with these tariffs. Unfortunately I don’t think he even understands any of that but it would help at least in that way
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I would trust a lifelong business person on this. Maybe.
 
Chattownsnow said:
This is true and could offset some of the increased cost associated with these tariffs. Unfortunately I don’t think he even understands any of that but it would help at least in that way
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Who is the "he" and them not understanding are you speaking about?
 
Chattownsnow said:
This is true and could offset some of the increased cost associated with these tariffs. Unfortunately I don’t think he even understands any of that but it would help at least in that way
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Avalanche said:
I would trust a lifelong business person on this. Maybe.
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One that’s bankrupted more companies than he currently owns tho?
 
Chattownsnow said:
One that’s bankrupted more companies than he currently owns tho?
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A billionaire letting companies that aren't as profitable as they should be crash and burn for tax write offs is part of understanding what he is doing.

Why try to save a sinking ship and pay taxes when you can claim it as a loss instead?
 
$alt said:
A billionaire letting companies that aren't as profitable as they should be crash and burn for tax write offs is part of understanding what he is doing.

Why try to save a sinking ship and pay taxes when you can claim it as a loss instead?
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A lot of entrepreneurs take risks and assess risks. The act of what you’re saying is common. I don’t have a problem with it. Neither does most people.
 
$alt said:
Who is the "he" and them not understanding are you speaking about?
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I don’t think Trump understands that getting rid of the federal income tax could offset the increased cost on people that his tariff proposal would create, because he doesn’t understand that his tariffs would cause it in the first place. He references getting rid of the federal tax because the tariffs would replace the income from the federal income tax if I remember correctly.
 
Avalanche said:
A lot of entrepreneurs take risks and assess risks. The act of what you’re saying is common. I don’t have a problem with it. Neither does most people.
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Most businesses fail. Just because Trump has a lot of cash to throw at something and hopefully keep it treading water, doesn't mean he should.
 
Chattownsnow said:
Tariffs like he is proposing have never been implemented at the scale he is proposing unless you go WAY back to like the early 1900’s and 1800’s when this was the United States main source of income. Taxes on people were far less. No state or income taxes because most of the income came from these tariffs. Now do that, and keep the taxes we have now? Now you have a problem
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So I'll level with you...

I think the high / broadstroke Tariffs Trump has discussed are merely a political talking point to appease swing voters in the Rust Belt. And per polling, it's working well enough that he has a real shot at flipping all 3 blue wall states again.

But realistically, if he wins, we'll probably just see a continuation of what he did in his first term

And to be fair, I feel the same way about Kamala's price controls proposal.
 
Truth social is a good example of something that is likely to fail. It was launched at a time that censorship on social media was a big deal.

Elon buying Twitter in retrospect, actually hurt any chance truth social had to get any major market share.

It's his product and he owns the majority stock. It's going to fail.

Do I think he doesn't know what he's doing because of it? No. He saw an opportunity to make an alternative social media network to the others. Everyone acted like they wanted it, too.

The fact is, the giants like Facebook and Twitter have been around so long, that even Trump and censorship can't dethrone them as it currently stands.
 
There were two pointless wars initiated that the US stuck their hands in during Biden's presidency
Inflation was not resolved and the national housing situation is an ignored nightmare
Money is going to the wrong places in high amounts, and everyone suffers under these plans Kamala wants who wishes to ever retire and not return to work.

I don't see how that's better than a slighter tank to our economy that MUST happen under any circumstance. Reality check is we are headed for a recession worldwide and there's an option that won't crush us here as badly.
 
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