Tariff fever is a morph of the flat tax fever from a generation ago. The goal, of course, is to push as much of the tax burden on the poor and middle-class as possible. It's evil and unsustainable. Destruction of the middle-class is causing the death of pax Americana. But the 1%ers don't give a shit.
It angers me that the potential opposition block can’t get I together to make Trump’s life hell. I know, you say there are problems with that. I am just getting fed up with Trump screwing us over. At least stand up to him the way Mark Carney did, or accept what you must but expose him. Bending the knee inevitably makes things worse.
I really mean it when I thank you for all your excellent articles. You generally give me hope, but only in appropriate doses. I prefer to be grounded in facts.
“The United Kingdom is the first to partly fold. I’m not entirely sure whether to blame Prime Minister Keir Starmer for accepting 10% tariffs in certain sectors—or applaud him for securing a deal before anyone else. It’s probably both. Given the circumstances, he did what he had to do for his country.”
Shankar, are you sure this is capitulation, and not a long-term strategy by Starmer and the EU to keep Trump’s vitriol at bay, while they make free trade deals around the world behind closed doors? Why poke the 800 lb bear, until they are no longer reliant on the US.
Additionally, we’re already seeing both S. Korea and Japan move closer to China, something I never thought imaginable. Perhaps the European’s are fortifying their trade deals as well.
After all, NATO is essentially over, and everyone has gotten the memo except Trump, who thinks he’ll be able to extort the EU and UK for his own nefarious purposes: forever!
That said, the optics may say capitulation, but the tone to me speaks of something else. Just a thought…:)
I hear you. If I were advising him, I would have asked him to go ahead and do what he did. But that still does not mean, it is the right path isn't it. It is the best available under the circumstances.
Label as a Sales tax which will impact the majority of us as consumers. The Ratio of this added expense to consumers income should be clearly communicated. It’s a tax increase across the board which as you clearly state will support the tax cuts for the very wealthy.
I don’t have an answer for what is best for the UK, but my preference is that other countries not make nice with him. Every instance of compliance and sweet talking makes it harder on us in the long run. I appreciate your realistic assessment though.
Tariff fever is a morph of the flat tax fever from a generation ago. The goal, of course, is to push as much of the tax burden on the poor and middle-class as possible. It's evil and unsustainable. Destruction of the middle-class is causing the death of pax Americana. But the 1%ers don't give a shit.
It angers me that the potential opposition block can’t get I together to make Trump’s life hell. I know, you say there are problems with that. I am just getting fed up with Trump screwing us over. At least stand up to him the way Mark Carney did, or accept what you must but expose him. Bending the knee inevitably makes things worse.
difficult one AB. difficult one.
I really mean it when I thank you for all your excellent articles. You generally give me hope, but only in appropriate doses. I prefer to be grounded in facts.
“The United Kingdom is the first to partly fold. I’m not entirely sure whether to blame Prime Minister Keir Starmer for accepting 10% tariffs in certain sectors—or applaud him for securing a deal before anyone else. It’s probably both. Given the circumstances, he did what he had to do for his country.”
Shankar, are you sure this is capitulation, and not a long-term strategy by Starmer and the EU to keep Trump’s vitriol at bay, while they make free trade deals around the world behind closed doors? Why poke the 800 lb bear, until they are no longer reliant on the US.
Additionally, we’re already seeing both S. Korea and Japan move closer to China, something I never thought imaginable. Perhaps the European’s are fortifying their trade deals as well.
After all, NATO is essentially over, and everyone has gotten the memo except Trump, who thinks he’ll be able to extort the EU and UK for his own nefarious purposes: forever!
That said, the optics may say capitulation, but the tone to me speaks of something else. Just a thought…:)
I hear you. If I were advising him, I would have asked him to go ahead and do what he did. But that still does not mean, it is the right path isn't it. It is the best available under the circumstances.
Label as a Sales tax which will impact the majority of us as consumers. The Ratio of this added expense to consumers income should be clearly communicated. It’s a tax increase across the board which as you clearly state will support the tax cuts for the very wealthy.
I don’t have an answer for what is best for the UK, but my preference is that other countries not make nice with him. Every instance of compliance and sweet talking makes it harder on us in the long run. I appreciate your realistic assessment though.
Tariffs serve the same purpose as state sponsored gambling or lotteries. People least able to pay higher taxes end up paying or buying into
these fees. Whitewashing the fees so folks won’t think they are paying higher taxes is ultimately cruel.
No surprise here!
Force the average Joe and Jane to pay the 10% import tax on basic commodities (groceries, gasoline, gadgets clothing and medicine!)
Use the import tax revenue to offset another tax break for Wealthy Assholes !
Welcome to Republican Economics 101! Reward your wealthy donors!