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#taxes

60 posts51 participants3 posts today
Public
Karsten Johansson

Taxes are percentages taken from your paycheck, depending on your income. If you overpay, you get a tax return, meaning you get your excess contribution back. Tariffs are the same thing, but applied before you spend, which means everyone pays into it, regardless of income, and none of the excess contribution is paid back. This is the bast way I can explain it. Feel free to expand on it, because US Americans have been severely cheated on this one.

#tax #taxes #tariffs. #tariff #usa #unitedstates #trump

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Kevin Karhan :verified:

#WhatsMissing: The "#AntiThiel - #Grant":

Sadly I'm not a #billionaire, cuz otherwise I would've done so and hired people to be able to do so.

  • Instead I'm just gonna continue helping a couple wherever I can…
#DoGoodAndInciteOthersToDoTheSame#USpol#AntiIntellectualism
Public
Led By Fools

Kings and despots historically used spending and taxes (tariffs) to control their subjects, to reward loyalty and punish dissent.

Tariffs are a means to compel loyalty from every business that will need to petition would-be-king Trump for relief.

He is using access to government funds to bully universities, law firms and state and local governments into loyalty pledges.

Relief will come to industry and institutions that pledge loyalty (fealty).

Trumps strategy. is from the playbook for democratically elected leaders who want to stay in power forever.

#NoKings#NoDespots#Kings
Public
Vas

The IRS unit that audits billionaires has lost 38% of its employees since January, new data shows

As Donald Trump and Elon Musk take a chainsaw to the federal bureaucracy, the cuts at the IRS may be especially good news for America’s wealthiest taxpayers.
..#USA..#oligarchs..#taxes..

Continued thread
Public
Serge from Babka

I should mention that they're worse than a sales tax, because in a sales tax, all the money goes to the government.

In the case of a tariff, some of the money goes to the government, and some gets pocketed by local producers, as well as a smaller amount by importers.

It's a sales tax with a bonus given to large domestic producers, or in other words, to the wealthy.

#tarrifs#Taxes
Public
Serge from Babka

I find it interesting how few news outlets are reporting on the tariffs as what they effectively are: a tax on consumers.

An importer or producer will pass on the cost of the tariff down the line. An importer will pass the cost down to the consumer and a producer will pass it down their chain as well. It's short term pain but the market adjusts to these new prices.

This also drives up the cost of locally produced goods since the market price is now effectively higher. The local producer can now charge more and pocket the difference, even if they're less expensive than the foreign produced good.

This makes tariffs effectively a sales tax. It's frustrating and harms the importers and product producers in the short term, but in the medium and long term they act as an effective disproportionate tax on the poor and middle class.

#tarrifs#taxes
Continued thread
Public
Aaron In Minnesota

He does keep falling into the "taxpayer money" lingo which kinda sucks, but it's so ridiculously common it is almost hard to fault people for it :/

jamesarobichaux.substack.com/p

In short, a lot of public funds are not really sourced from taxes in any meaningful way, and that phrasing perpetuates a toxic mythology

James’s Newsletter · Why 'Taxpayer' Identity And Thinking Is Morally Bankrupt In Every ContextBy James A. Robichaux
#mmt#taxes
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