Quote:
Originally Posted by Pballer
If only something was going to be done about the government budget deficits. Congress is passing budget resolutions that cut taxes by trillions more than they plan on cutting spending. This will lead to multi-trillion dollar deficits in the future. Nobody knows how much DOGE is actually cutting spending; they are not providing transparency to independently verify the amount that they say they are reducing spending; they have already been found to have made billions of dollars of errors in stating spending reductions. If you are interested in reducing budget deficits, firing thousands of IRS employees is the dumbest thing you could do. This will cost this country hundreds of billions of dollars in lost revenue each year because wealthy individuals and businesses that push the tax avoidance envelope will no longer be audited. Who is more likely to be audited - it is not Joe Middle Class whose sole sources of income is documented through W2s and 1099s. In the end, DOGE could quite possibly cost more than it is saving.
The tariff plan is going to reduce economic growth throughout the world and increase prices here. The way the tariff rates were calculated is just plain bonkers. Only 10% of our economy is now manufacturing jobs - service jobs pay better than manufacturing jobs on average; it is foolish to think that we can return to a 1950s or early 1900s economy. Maybe the plan is to have a national sales tax; since Congress will never go for that, taxing middle class Americans hundreds of billions of dollars in tariffs is the next best thing; this will help pay for the tax cut plan that is skewed to the wealthy. The markets are acting rationally by plunging - the tariffs will cause reduced economic growth throughout the world and higher inflation here.
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Getting rid of IRS agents allows the super rich to get richer. The many tariffs weakens America. And it FORCES corporations and other Counties to come "hat in hand" to BEG for special tariff reductions.