Tariffs...what to make of them.

Bike N Gear said:
While I agree, not sure how you promote capitalism and then try to punish those who succeed. Sure, billionaires should probably pay their fair share but where do you draw the line? Tax billionaires more and the guy with $999 million laughs his way to the bank. As stated above if only the income is taxed, and they have the professionals to make it disappear, do you just punish everyone who is rich? How much is rich?
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Taxes aren't "punishment". They pay for a lot of the infrastructure that allows those big companies to exist - roads for Elon's cars, public utilities that facilitate providing power for those cars and data centers, etc. Thousands of miles of fiber that make up the internet's backbone are strung along public roads and other rights of way. Internet protocols grew out of DARPA, a taxpayer funded entity. Public education for their brain trusts. I could go on...

As far as lines, we draw them all the time. They're called tax brackets.

What pain would someone like Elon feel if his his taxes went up by 10%? Couldn't buy a 7th vacation home?
 
SmooveP said:
Taxes aren't "punishment". They pay for a lot of the infrastructure that allows those big companies to exist - roads for Elon's cars, public utilities that facilitate providing power for those cars and data centers, etc. Thousands of miles of fiber that make up the internet's backbone are strung along public roads and other rights of way. Internet protocols grew out of DARPA, a taxpayer funded entity. Public education for their brain trusts. I could go on...

As far as lines, we draw them all the time. They're called tax brackets.

What pain would someone like Elon feel if his his taxes went up by 10%? Couldn't buy a 7th vacation home?
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7000th home
 
Patrick said:
The rich get richer because the make more than they spend. FTFY. They use the lowering middle class to make the froth(super rich) even more richer. Unless you compound and add extra money it's very difficult to do this. Sure, you can do it but they don't teach this in public schools for the most part. Theyteach you to go into debt and buy things you can't afford. There are actually much easier ways to get rich but the learning curve is painful.
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Stopped at Diesel's sub shop in Bayville yesterday, been going there for years, rarely disappointed.
2 whole cheesesteaks, no drinks or chips, $48.70.
Needed some deck paint, Sherwin Williams Exterior High Traffic enamel, $96.00 gallon.

Doesn't matter if it's inflation or tariffs or price gouging, the world is changing and it's not ever going back to the way it was.
Been retired 5 years, Social Security COLA is 2.8 % this year, not keeping up.
Market has been good, FCNTX keeping me afloat. But let it fall 30 or 40% and it's back to hamburger helper without the hamburger.
 
hevysrf said:
Doesn't matter if it's inflation or tariffs or price gouging, the world is changing and it's not ever going back to the way it was.
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It's all 3. All man made by decisions made and allowed by our own country. Shocking to let this be done to ourselves. It could all easily and quickly be undone, at least the tariffs and price gouging.
 
SmooveP said:
Dude, ease up. That's not Bondi.
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Sorry. Color me gullible. I will put the SVP of meme quality control on a PIP.

However, the DJT stock that the MAGA faithful put their life savings into in November 2024 was trading at $11.07 Friday and u can look that up on the interwebs. 🤣
 
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