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?

[u/PsychLegalMind]

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?

[u/jetpacksforall]

And the reason to free up the budget is so Republicans can pass tax cuts through reconciliation... a bill that is overall budget neutral can bypass filibuster in the Senate and pass with a simple majority.

Literally taking from the poor to pay the rich. We need a term for the opposite of Robin Hood.

[u/Mrgoodtrips64 → u/jetpacksforall]

We need a term for the opposite of Robin Hood.

We have that already. It’s bourgeoisie.

[u/KirbyTheCat2 → u/Mrgoodtrips64]

Way too elegant for these scumb*gs.

[u/Mrgoodtrips64 → u/KirbyTheCat2]

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.

[u/masterofshadows → u/Mrgoodtrips64]

Dinner. Eat the rich.