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this post was submitted on 16 Jun 2024
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I swear he comes across as even more senile each and every day. But ...
The rich would support this - they can only consume so much after all, and most of that would be discretionary. No more income taxes on vast incomes, stop buying imported shit, huge win for them. The chowderheads supporting Drumpf would probably be enthusiastic about such an idea too - imagining their small paychecks without that hated tax deduction box and imagining no more paying every year for that scary tax return software. And then, they lose their jobs because countries that we export to retaliate with their own tariffs. Prices on pretty much everything goes through the roof (because even domestic products have foreign supply chains), and most of the cheap shit they used to be able to afford (like electronics from China, bulk foods from overseas and (fast-)foods made with it) they can't afford now.
Meanwhile, with the economy crashing, federal receipts (both tax and tariffs) dry up and it's Government Shutdown time. All working according to the Plan. Grandma and Grandpa lose their incomes and health care and have to move in with unemployed, impoverished JimBob and the wife, which is darn near intolerable what with all the hillbilly kids being home all the time now that the schools have been shut down. Kids that are wailing about being hungry all the time just like the oldsters.
It would be fun to see what carve-outs to the tax/tariff policy they'd have, to try to keep the MIC funded. Borrowing is of course the preferred way to fund it, but nobody's going to be touching the bonds issued by an actively collapsing national government.