446631
From: The Hierophant, [DNS_Address]
Subject: DJT first pres to 'deliberately engineer a severe depression
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SIGH............ 4 more years.............................. This is SUCh basic economics - why is it that grown adults do not understand these basic concepts????? "Trump is the first president to 'deliberately engineer a severe depression': economist Economist Robert Kuttner believes that President Donald Trump will go down as the first president in American history to "deliberately engineer a severe depression." Writing in The American Prospect, Kuttner runs down all the ways that Trump's policies are putting a severe damper on economic growth, starting with the massive tariffs he has slapped on all goods coming from Canada and Mexico. Among other things, Kuttner notes that the tariffs are going to create havoc in manufacturing supply chains since some car parts make multiple border crossings during the car production process. "How on Earth do you levy tariffs on each border crossing without slowing down the production chain?" he wonders. "It is as if Trump wants to artificially recreate the supply chain crisis of the COVID years." An increase in prices from the tariffs will also result in the Federal Reserve keeping interest rates high or even once again raising them to keep inflation down, which will also grind down economic activity. As if that weren't enough, Kuttner believes these moves will further sap consumer confidence, which has already been plummeting for the last two months. On top of all that, he adds, the mass layoffs in the federal government will put more people out of work who will then spend less on important goods and services, thus adding yet another drag on the economy. "A related key question is whether Trump has any master plan for the economy here, or whether he is just bats-- t crazy," Kuttner muses. "The evidence is that Trump’s effort to destroy the government reflects a certain malign consistency, but that his effort to destroy the economy is based on sheer ignorance and impulsivity. His economic policy is internally inconsistent, and totally at odds with his political need to tame inflation. He is on track to have the kind of stagflation that did in Jimmy Carter, only far worse— and self-inflicted." |
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[446649] [446653] [446644] [446652] [446661] [446655] [446654] [446651] [446648]
446649
From: akira, [DNS_Address]
Subject: Re: DJT first pres to 'deliberately engineer a severe depression
| This is not an exaggeration. This is exactly what is happening. |
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[446653]
446653
From: ryan, [DNS_Address]
Subject: Re: DJT first pres to 'deliberately engineer a severe depression
URL: https://www.counterpunch.org/2025/03/05/trumps-record-large-tax-increase/
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actually a very large increase in taxes on the middle class and poor... March 5, 2025 Trump’s Record Large Tax Increase Dean Baker The taxes on imports (tariffs) that Donald Trump is putting in place next week, coupled with his earlier taxes, will rank among the largest tax increases ever imposed. They are far larger than the tax hikes put in place by Presidents Clinton and Obama, which sent Republicans into a frenzy. The basic story, as it stands now, is that Trump will impose 25 percent taxes on imports from Canada and Mexico, while increasing his 10 percent tax on imports from China to 20 percent. Our imports from Canada and Mexico together came to roughly $1 trillion last year, while our imports from China were a bit over $400 billion. This means that, before any resulting adjustments in trade patterns, the tax would come to $330 billion ($250 billion plus $80 billion). There are many issues with this simple calculation. Trump may allow some items, like Canadian oil, to be taxed at a lower rate. However, the figure also excludes Trump’s tax on steel and aluminum imports from other countries, which would make the tax considerably larger. This means that we can use this $310 billon figure as a reasonable approximation of the size of Donald Trump’s tax increase. With GDP coming in at around $30 trillion in 2025, this tax hike would be equal to 1.0 percent of GDP. By comparison, the tax hike that Bill Clinton pushed through in 1993, primarily on high-end taxpayers, came to 0.66 percent of GDP. The tax increase that President Obama pushed through in 2010 to cover the projected cost of Obamacare came to 0.43 percent of GDP, less than half the size of Trump’s tax hikes, as shown below. If Republicans are really opposed to tax increases, they should be outraged about the huge taxes that Donald Trump is imposing on imports. On the other hand, these import taxes will be paid disproportionately by low and middle-income families, since they both spend a larger share of their income than rich families, and what they do spend goes disproportionately to goods rather than services. (Low and middle-income households are less likely to spend money on fine dining and foreign vacations.) If the Republicans’ main concern is taxes that rich people pay, then it is more understandable that they would not be upset about the huge taxes Donald Trump is imposing on imported goods. The rich will be less affected by these taxes and can be more than compensated by tax cuts that Trump has promised them. This first appeared on Dean Baker’s Beat the Press blog. Dean Baker is the senior economist at the Center for Economic and Policy Research in Washington, DC. |
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446644
From: ao, [DNS_Address]
Subject: Re: DJT first pres to 'deliberately engineer a severe depression
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“4 more years..” Nah, I don’t see it. A little lead ball.. a heart attack.. a stroke.. and there’s always Vlad’s fav.. poison. Or, of course, he can always try flying out of an upstairs window.. lotta Vlad’s buddies like try that. No matter.. there are several ways this nightmare can end long before.. |
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446652
From: Mandie, [DNS_Address]
Subject: Are you advocating the assassination of the President?(NT)
| (NT) |
446661
From: mitra, [DNS_Address]
Subject: Re: Are you advocating the assassination of the President?(NT)
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Can you read? Nowhere was that suggested. However, many, many of Putin's friends have ended just as AO described. He's just reporting based on well known, published history, past is prologue. |
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446655
From: akira, [DNS_Address]
Subject: shit happens
| don't it? |
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446654
From: ryan, [DNS_Address]
Subject: Re: Are you advocating the assassination of the President?
| are you another maga lickin' dumbass? |
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446651
From: akira, [DNS_Address]
Subject: Re: DJT first pres to 'deliberately engineer a severe depression
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I suspect the plan is to squeeze Vance in as soon as possible, which will be easy with more election tampering. |
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446648
From: mitra, [DNS_Address]
Subject: Re: DJT first pres to 'deliberately engineer a severe depression
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Oh, AO, it's no longer "Him," it's THEM. The Beast has multiplied and are creeping their way through every state. It will end, someday. This too shall pass. |
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