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Liberation!
In the days ahead, traders and investors will gear up for "Liberation Day."
Never heard of it? Well
Carlota Berrera and the Bristol Motor Speedway in the same week!
Feel like that kind of range is gonna give the Thought Police algorithms a bit of indigestion.
Yeah, it’s entirely possible that I’m the only person to have ever worn a CB piece in the state of Tennessee. She only has two physical stockists in the Americas, and one of them’s in Canada, which means you can’t get it in Nashville or Memphis. (They’re good people, btw. Her prices are ~1/3 of the big designer houses and they send you a hand-written little note with your orders.)
You pointed out something I did not know. Tariffs serve a purpose if they offset income tax reductions. That is an idea you disagree with, and whether it is foolish or not, some purpose IS served.
Tariffs are a national sales tax. So if you like the idea of consumers paying for tax cuts for wealthier people and corporations (more buybacks!) you should find tariffs attractive. Sadly, I’ve seen hard numbers which suggest that even 100% tariffs on all products (oil, foodstuffs and medicines included) would not cover the revenue hit from the tax cuts. Damn math.
There is another inherent problem, if corporate America does respond to tariffs by expanding production, won’t that reduce the take from taxing imports?