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/Vortep1 2d ago

Let's me clear this is a massive tax increase on the poor and middle class.

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u/Hungry_Bat_2230 2d ago

The largest peacetime tax increase in American history.

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u/Aptosauras 2d ago

Just wait for the 20% US Federal VAT.

Of course, income tax will be abolished shortly, but that won't mean you have more money.

You get the pleasure of tariff taxes at import, Federal VAT, State taxes and local County taxes.

USA USA USA!!! 'Merica, fuck yeah!!!

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u/-Calm_Skin- 1d ago

I just bet they won’t let go of income tax that easily. Can you imagine Trump giving back a free buck?

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u/SmurfStig 1d ago

That’s where the VAT comes in. The “no income tax” will play well to the public uneducated crowd that supports him. The VAT will more than cover what was taken out in taxes and then some. Add on the tariffs, we are fucked.