While Musk is trying to get AfD elected in Germany, Trump is now threatening to put tariffs on all of Europe.
They really do not get how much hurt Europe could cause for them. Tesla, Amazon, Facebook — they are all here!
EU politicians should begin talking about the wonders of putting levies on their energy use, and how we support better working conditions and increased wages.
When Elon, Bezos, and Zuck support a fool, who wants to hurt European economy, remind them it is a two-way street!
If we are cutting income tax and offsetting that with tarrifs I am all for it. Taxes need to be levied somewhere and any taxes we can move off income tax and apply more towards taxing expenses the better.
That said I doubt Trump will execute things well, he rarely does.
@freemo I remember his last trade war. We put a considerable tariff on Harley Davidson motorbikes, etc.
I do not recall them winning anything.
@randahl You mean a European tariff on USA goods? Yea I expect that to be the case. We tax incoming foreign goods, they tax from us. Import/export tax is pretty common to go both ways. Just another way to collect money and superior to income tax IMO.
No more so than everyone looses with taxes in general. I mean sure you hear people make the argument "everybody looses" and taxes are theft all the time. But the reality is, we need taxes to function and tariffs are a better way to get them than income tax.
Oh and by the way 28% of all goods entering the EU are taxed under a tariff... hardly the whole "only one advisory" and "its a trade war"...
tariffs can be used for a lot of things, unfair practices are one, just like taxes they can and should be used proportionally to discourage undesired behavior, such as buying foreign goods over local.
Since tariffs should never be lifted I dont see much relevance in discussing the effects of lifting them.
Like taxes tarrifs can of course be used to target things unfairly. The assumption with any tool is that it in order for it to benefit society it must be used properly, and that means not using it to target the wrong sorts of companies or resources.
@fedops
Also assuming you mean the EU, then no you arent taxed "quite a bit more". I have lived in both the EU and the USA at the highest tax bracket, and the tax were about the same. Yes europe is a bit higher, but not by very much.
@randahl