this post was submitted on 04 Mar 2025
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Summary

Donald Trump is poised to impose massive import tariffs on goods from Canada, Mexico, and China, effectively raising taxes on U.S. households by an estimated $3,000 annually.

Unlike past tax increases that targeted the wealthy, these tariffs disproportionately impact low- and middle-income workers.

While Trump claims the measures address immigration and fentanyl concerns, experts argue they serve as a revenue source to offset tax cuts for the rich.

Critics contend that Trump's tariffs lack a clear industrial strategy and primarily burden American consumers.

top 38 comments
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[–] Sir_Kevin@lemmy.dbzer0.com 25 points 4 hours ago (1 children)
[–] bluemite@lemmy.world 1 points 2 hours ago

To be fair, COVID-19 was also a factor in 2020

[–] SleepyBear@lemmy.world 9 points 3 hours ago (1 children)

If I (someone who makes around $30,000 a year) owes anything CLOSE to 2 grand in federal taxes theyre gonna have to send the IRS after me to collect. 🤷 Sorry dumpy donnie.

[–] pfwood178@sh.itjust.works 10 points 3 hours ago (1 children)

You won't see $2k more in Federal Income Tax, you'll pay higher prices on store shelves (because of the tariffs the Federal government collected from the importer of the goods, which ultimately get passed on to you the consumer)

[–] Jhex@lemmy.world 1 points 3 hours ago

And pay $1,540 extr in actual income tax

[–] meowmeowbeanz@sopuli.xyz 53 points 6 hours ago (1 children)

When did sabotaging your own economy become a hallmark of leadership? Asking for 300 million friends.

🐱🐱🐱🐱

[–] henfredemars@infosec.pub 25 points 6 hours ago

He works for Putin. He’s been very successful at following his orders.

[–] als@lemmy.blahaj.zone 107 points 7 hours ago (4 children)

If only this could have been seen coming ... there were really just no warning signs ... I'm tired.

[–] Buffalox@lemmy.world 37 points 7 hours ago (2 children)

Exactly, I wasn't so much shocked as I was surprised Harris lost. I mean how can so many people be that dense as to vote for Trump?

[–] Dagwood222@lemm.ee 18 points 7 hours ago (3 children)

What gets me is that there were millions who couldn't be bothered to vote against Trump.

imho Biden/Harris shouldn't have had to do anything whatever. People should have just shown up and said 'no' to anotehr Trump term.

[–] Buffalox@lemmy.world 9 points 5 hours ago

Absolutely, being normal should beat a flaming sociopath. But malignant narcissism and sociopathy have become virtues in USA, as the ultimate symbol of freedom. Because they only think of themselves.

[–] timbuck2themoon@sh.itjust.works 1 points 2 hours ago

Oh no no no. It's of course someone else's fault. Harris not good enough, blah blah blah. Definitely don't blame people too lazy or uninterested to vote. That's definitely not their fault and theyre definitely not complicit in everything going on.

[–] henfredemars@infosec.pub 11 points 7 hours ago (1 children)

Good thing most Americans can find an extra three grand in their couch cushions. /s

[–] frezik@midwest.social 5 points 6 hours ago

That's not for them. Vance left a tip for the couch when he finished.

[–] Sc00ter@lemm.ee 2 points 4 hours ago (2 children)

"People keep acting like a trump win will be the end of democracy, but thats just hyperbole. He wont end democracy."

-bad faith trolls

[–] margaritox@lemmy.world 1 points 2 hours ago

That’s what I said to myself when he won to calm myself down.

[–] Buffalox@lemmy.world 2 points 4 hours ago

No he will not end democracy as such, it's in USA he will end it.

[–] takenaps@lemmy.world 3 points 4 hours ago

Why did biden do this

[–] Professorozone@lemmy.world 3 points 5 hours ago

Hey that's my line. Up vote.

[–] glimse@lemmy.world 2 points 3 hours ago (1 children)

Calling it a "tax increase" when it's not is kind of infuriating because it just muddies the conversation. Comparing it to a tax increase is fine but saying it's "effectively" one is worse than useless - it either confuses people, gives them the wrong idea, or gives them an easy out to say it's bullshit.

I hate when my side does stuff like this.

[–] SmoothLiquidation@lemmy.world 2 points 3 hours ago

A tariff is a sales tax, pure and simple. Sales taxes hit lower income people harder than the rich because they have to put a higher percentage of their income into it.

[–] ChonkyOwlbear@lemmy.world 56 points 7 hours ago

Remember, if you see someone stealing food, no you didn't.

[–] Buffalox@lemmy.world 38 points 7 hours ago (1 children)

😂😂😂 Oh boy those MAGA idiots that were complaining about inflation and thought voting for Trump would help them. 🤣🤣🤣
How's that going for you? 🤡🤡🤡

[–] Hideakikarate@sh.itjust.works 19 points 7 hours ago (1 children)

They'd cut off their nose to spite their face. As long as people they don't like are hurting, they'll suffer as well. They'll probably just find a way to blame Biden or Obama again.

[–] JoShmoe@ani.social 4 points 4 hours ago

They won’t actually find a way. They’ll just make up shit that Trump was actually responsible for.

[–] Sir_Kevin@lemmy.dbzer0.com 4 points 4 hours ago

This went into effect today.

[–] Litebit@lemmy.world 62 points 8 hours ago* (last edited 3 hours ago) (3 children)

I thought DOGE saved taxpayer money. Since the cost of government spending is lower, taxes should be lowered. This Trump and Elon are scammers if taxes are not lowered.

[–] Lucky_777@lemmy.world 65 points 7 hours ago

Only if you make over 360k a year and above.

[–] JoShmoe@ani.social 3 points 4 hours ago

Wait you mean this guys don’t actually create value?! OMG this whole time!

[–] henfredemars@infosec.pub 5 points 6 hours ago

It saves it for distribution to billionaires.

[–] teamevil@lemmy.world 3 points 3 hours ago

I'm not paying taxes for fucking musk to destroy the country.

[–] hansolo@lemm.ee 5 points 6 hours ago* (last edited 5 hours ago)

I don't want to give up too many secrets, but....

...the ultimate way to own Libs is to destroy the economy and raise taxes on everyone that voted for you. Ssshhhhhhh....don't tell anyone, them Libs'll be so pissed. ;)

[–] inclementimmigrant@lemmy.world 6 points 6 hours ago

Well jokes on you, Republicans will have their tariffs paid for by China, Mexico, and Canada and even better they're going to be getting a stimulus check for 8K thanks to DOGE.

That's what Tik Toc tells them and what they know to be true.

[–] PyroNeurosis@lemmy.blahaj.zone 4 points 6 hours ago

The associated pic shows Trump's mad halotosis.

I still can't believe Bidenflation is still happening.