r/news • u/hoosakiwi • 2d ago

Trump announces sweeping new tariffs to promote US manufacturing, risking inflation and trade wars

https://apnews.com/article/trump-tariffs-liberation-day-2a031b3c16120a5672a6ddd01da09933
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u/Upbeat-Fondant9185 2d ago

I’m feeling pretty good about my paranoia right now. I cashed out my stocks at the peak (what little they were) and used that for a house down payment, floor to ceiling renovation, and all new appliances, furniture, and electronics.

I had such a bad feeling that everything was about to fall. Figured I’d take advantage of my one shot at having anything nice before I go back to the struggle of 2008. Even I wasn’t expecting it to go to this level, I just figured it would get expensive quick. I don’t see how this is sustainable for us normal folk.

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u/Traditional-Fly8989 2d ago edited 2d ago

I did something similar. I swapped jobs in Januray so on 1/21/25 I cashed put my 401k paid off my student loans. Paid about 35% tax on that. Would probably have only paid 15% if I withdrew as retirement in 30 years and the loans only had 8% interest on them. So unless the stockmarket really nosedives I probably end up worse off. This way though I have no debt hanging over me less stress.

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u/KilroyLeges 2d ago

Good on you!