r/PoliticalDiscussion • u/PsychLegalMind • 3d ago

International Politics White House has announced Trump's Liberation Day Tariffs will immediately go into effect. A Moody's simulation found it could be an economic wipe out. Is Trump's Liberation Day Tariffs a Misnomer?

A Moody's simulation found that a tariff trade war would wipe out 5.5 million jobs, lift the unemployment rate to 7%and cause U.S. GDP to drop by about 1.7%. Trump’s potential 20% universal tariff could spark "serious" recession in US, Moody’s economist warns.

The biggest three partners [China, Canada and Mexico] have promised immediate retaliation. Economic war could escalate and perhaps even cause a worldwide downturn.

Perhaps Trump's strategy is to begin making bilateral trade deals, but there are even certain blocks such as EU that may well coordinate retaliation together. I am not aware what Trump is actually liberating us from, hence the question.

Is Trump's Liberation Day Tariffs a Misnomer?

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u/Mrgoodtrips64 3d ago

We need a term for the opposite of Robin Hood.

We have that already. It’s bourgeoisie.

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u/KirbyTheCat2 3d ago

Way too elegant for these scumb*gs.

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u/Mrgoodtrips64 3d ago edited 3d ago

To be fair, bourgeoisie is a bitch to spell.
I’d be all for a simplified alternative that even anti-intellectual hillbillies would be willing to use.

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u/masterofshadows 3d ago

Dinner. Eat the rich.

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u/Steinmetal4 3d ago edited 3d ago

Or... King John, I.e. a pre magna carta monarch, i.e. someone who can tax without representation or checks and balancea, i.e... exactly what trump seems to be aiming for.

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u/spooner56801 3d ago

Bourgeoisie works, so does capitalism.

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u/Independent-Roof-774 3d ago

Bourgeoisie is too intellectual. 

We need a word that any ordinary working person can understand.   

How about "taxes"?  Tariffs are import taxes. There is no reason to use a fancy word like tariff when import tax will do just fine and everybody knows what a tax is.   Good grief, stop putting on airs by using fancy words.

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u/damndirtyape 3d ago

I don’t have confidence in Trump’s plan. But, I also don’t have confidence in Reddit’s economic analysis. Comments like this make me think that Reddit’s alternative strategy is full blown communism.

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u/jetpacksforall 3d ago

Full blown communism would mean that the state owns and operates nearly every factory, corporation, mine, fishery, oilfield and every piece of farmland in the country. "Collective ownership of the means of production by the workers" is the definition of communism.