I don’t debate the insanity of the economics of it. I’m saying they have a problem the solution for which is raising taxes but their stupid religion (bootlicking capital) doesn’t allow it, so he’s trying to raise revenue this way.
A guy I watch ran the numbers about it actually, and the results were funny. Basically, presuming that imports and purchasing trends stayed the same, to replace income tax with tariffs, everything being brought in would have to get a near 100% tariff to cover the difference.
Basically have to double the cost of living in order to cover the lost income from getting rid of income tax.
You are not logged in. However you can subscribe from another Fediverse account, for example Lemmy or Mastodon. To do this, paste the following into the search field of your instance: !canada@lemmy.ca
I don’t debate the insanity of the economics of it. I’m saying they have a problem the solution for which is raising taxes but their stupid religion (bootlicking capital) doesn’t allow it, so he’s trying to raise revenue this way.
A guy I watch ran the numbers about it actually, and the results were funny. Basically, presuming that imports and purchasing trends stayed the same, to replace income tax with tariffs, everything being brought in would have to get a near 100% tariff to cover the difference.
Basically have to double the cost of living in order to cover the lost income from getting rid of income tax.