Trump's Tariff's impact on Gladiators [LOCKED DUE TO POLITICS]

[BuyHold]

... we are too far in debt, as a country, ...

Follow up thought.

Absolutely we are too far in debt! It is really scary to be honest. There are multiple historic examples of where global reserve currency super powers recklessly go into debt "because they can" and then the party ends poorly for them and world balance of power shifts elsewhere. (16th c. spain, 17th c. Netherlands, 19th c. Britain... 20th/21s c. America?: TBD).

Funny how it seems my entire life, government debt has been an "issue" (mostly proclaimed by conservatives (correctly) to be so) but yet ALL political parties have made the problem worse (except for 1998-2001 where there were US budget surpluses with president #42!). Now if you look at the numbers after 2000 dot com bubble (#43), middle east wars (#43), 2008 financial crisis (#43/#44), 2017 tax cuts (#45), and the 2020 COVID distributions (#45), it is coming to a head. The trajectory just keeps going from bad to worse. Folks, we have to turn the ship around NOW! It is like a slow motion train wreck.

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[Deleted member 57233]

The only way that this could/would be structured is if the IRS/government directly taxes those specific companies that make money off of eliminating jobs through automation. Not too hard to think of hypothetical situation where:

Company A sells an $90K automated product to Company B that replaces one of their $100K salaried workers (for every $1 of salary Company B pays to their employee, they probably pay an extra 25 cents just to employ them!). Company A is taxed at 90% tax rate and give the money to the now un-employed worker. Buyer saved $10K, Company made $9K (or more after benefits!), employee makes $81K... and can do nothing. Win win win.

Of course this is super simplified and brings up a whole host of moral questions (e.g. should the government tax productive companies that help people at all?, should an employee make money for doing nothing?), but nonetheless it doesn't seem impossible.

You also need to factor in the $100k employee could only work 8-10 hours a day, got sick, took holidays, and required benefits the employer paid for. Plus unemployment insurance and workers comp coverage.

And they are replaced by something that requires none of that and can do 3x 8 hour shifts a day, with very few days off a year. The companies replacing humans are coming out way ahead.

 

[Tuggernuts]

I can’t help but weigh in on one thing here…I don’t know who is going to pay for UBI, but we are too far in debt, as a country, to be able to afford that…

As far as tariffs go, they will raise prices. It doesn’t mean that they can’t be a successful part of a larger plan, but prices will go up, should they be implemented.

Maybe if the government didn't borrow against the social security trust fund

Social security is already going to owe more than it can pay out in less than ten years. We don’t need to create anymore government programs that need funding. This is way off topic though. Yes, I think tariffs will make the prices of gladiators go up.

Maybe if the government didn't borrow from Social Security it wouldn't owe more than it can pay? Expecting people to work into their 70s is not the answer.

 

[Stuntman Mike]

I have heard from usually reliable sources, that in the very near future a decree will be signed which states that combustion engines with a number of cylinders below 8 will be forbidden in the US for vehicles below 3,5 tons.

Let's see how this will effect the future Gladiator production.

 

[Tuggernuts]

Maybe I should buy a spare pentastar lol. I doubt that will happen in the near future. Battery tech needs to be better imo.

 

[Greg_L]

I mean are people really that retarted?

Irony is thick with this one.

 

[yoda13]

Maybe if the government didn't borrow against the social security trust fund

Maybe if the government didn't borrow from Social Security it wouldn't owe more than it can pay? Expecting people to work into their 70s is not the answer.

I agree.

 

[BourbonRunner]

Sounds weird but maybe we should invest more into education and job training programs?

Yes but cautiously and certainly not at the college level. We successfully convinced tens of millions of Americans to "work smarter, not harder," by getting a college degree. Nothing against college education but the net effect has been college at the cost of the trades instead of college alongside or in addition to the trades. We need to invest heavily in trades and blue collar work in general- the jobs that built this country in the first place.

One thing I'd like to see: A new CCC. We gained so much as a nation as a result of just that one program.

On the subject of tariffs-- I haven't seen mention here of the tariffs that other countries put on our exports and the issue of trade deficits. That's a topic that needs more sunlight.

 

[ttn333]

The two large problems with our college system are the exorbitant costs and the undergrad system in general. We should really move toward the European system as I understand it, which skips the 2-4 year of undergrad generalneducation and pre-requisites and go straight into the field that you want right out of high school. This does create more pressure in high school to do well and to actually have a better primary education. College would then become more selective, but it does cut down on cost as well as eliminate college drop out rate. Then we have more people become part of the work force sooner rather than waste 4 year in our undergrad system.

 

[Wildtoad]

Having everything built here will raise the price of the vehicle more than the cost imposed by the tariffs.

 

[Greg_L]

Imagine your iphone totally designed and manufactured in the USA by real patriotic murrcans.

That thing would cost $9000 and fail in a week.

 

[Wildtoad]

Other countries don't worry about putting tariffs on the stuff they buy from us. Mainly as they don't buy much from us.

 

[Greg_L]

Other countries don'y worry about putting tariffs on the stuff they buy from us. Mainly as they don't buy much from us.

Ahem....blue jeans? Rock and roll? Really bad superhero movies?

 

[MattHamilton]

The two large problems with our college system are the exorbitant costs and the undergrad system in general. We should really move toward the European system as I understand it, which skips the 2-4 year of undergrad generalneducation and pre-requisites and go straight into the field that you want right out of high school. This does create more pressure in high school to do well and to actually have a better primary education. College would then become more selective, but it does cut down on cost as well as eliminate college drop out rate. Then we have more people become part of the work force sooner rather than waste 4 year in our undergrad system.

Most western (north western?) European post secondary education is free for the student. When I lived in Sweden (95-98), the Income tax rate was around 57%. I'm unsure how the funds were distributed to the schools, but I'm pretty sure all the institutions were state owned. So picking your major and getting it wrong and then repicking your major wasn't a major financial hardship; just takes a little longer to finish, and reduces the inclination to drop out. I live in Canada and am not really current as to American tolerances, but I'm thinking an income tax rate that high to help supplement education costs would probably not go over well. Of course, the taxes funded other programs too, not just education. But I think you get the gist.....

 

[ScottBeach]

All wages w2 in USA last year was 11 T$ feds alone spent 6.75 T.
The fed tax rate would need to be 61% to cover that and never pay down the debt. then you would need to stack local taxes on top of that (sales tax , property tax , state income tax etc)

For a tariff system to replace that would require rates much higher than being proposed. I think ERS/ tariffs replacing IRS is a non starter but so is a 60% base tax rate

The vast majority of fed monies (i can't use the word revenue here) comes from w2 incomes payroll and income taxes.

Corp taxes are a rounding error and cap gains is about a quarter of fed monies

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