Flaming Carrot
kiwifarms.net
- Joined
- Oct 8, 2019
I think the biggest problem is that Donald Trump and his allies have differing justifications for what they're doing depending on the hour of the day and who's asking, and all the justifications contradict each other. The arguments as I understand them as the following -My current theory is that Trump(/his administration) is trying to address legitimate grievances, doesn't believe Congress is capable of moving on these grievances (much less across a multi-election cycle timeframe), and so is trying to accelerate the final crisis right now, from the Executive branch, while he's at the peak of his power. If they get to bully other countries into dropping their tariffs and get to refinance the debt at lower rates then all the better.
I agree on the Congressional point. They've had 30 years to do something about the gutting of America's industrial base and have failed spectacularly. There's no evidence of a broad, nonpartisan political will to execute an onshoring agenda over the span of 10-15 years.
All of this is happening against a backdrop of waning American power, which is independent of any particular administration. I just think it's far too much and too quickly, and far too late.
1. The tariffs are a way to produce revenue and will eventually be used to replace the income tax. Of course, before income tax the government was a lot smaller and did much less, but fine, let's say they generate revenue this way. the tariffs would have to be small because otherwise people would buying domestic items that don't have the tariffs.
2. The tariffs are intended to protect American industry and building up American manufacturing. Even though we're wealthy and the rest of the world are impoverished shitholes and Europoors, they're taking advantage of us and ruining our country which by the way is so incredibly wealthy we should absorb Canada as a 51st state. So, the tariffs will be incredibly high, which means everyone will buy American. But we won't get as much revenue from the tariffs, so I guess we're sticking with income taxes.
3. There's an exciting third argument which argues this is Donald Trump's Art of the Deal 4d chess move to get other countries to lower their tariffs. He didn't like NAFTA, which lowered tariffs and he didn't like the Trans Pacific Partnership, which lowered tariffs, but now by raising tariffs he will get free trade agreements with other countries., then I guess the tariffs go away.
4. There is still another arguments that the tariff rate has nothing to do the tariffs other countries have and are instead punishment with having a trade deficit for the U.S. So because Bangladesh is poorer than us and doesn't buy as many things from the US, they are somehow beating us even though we're rich and they're poor. Therefore tariffs will stay until poor countries buy as much from us as we buy from them,, although if they become wealthy enough to do that, it means they're cheating and the tariffs stay in place.
I think people can sincerely believe in one of these arguments but can't believe in all of them. I saw signs in my area before the election that read "Kamala - high prices/Trump - low prices." Donald trump won the election largely because people were upset about high prices. The only thing I can think of where the price has started going down is eggs, and we achieved that by importing eggs from overseas
Telling people that they don't pay enough money for things is not a winning strategy. If he crashes the stock market on purpose, he will get impeached again, and this time the Republicans will go along with it.