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Great Piece - If we do not take Trump Literally at his word that Tariffs will replace (all) income tax but rather it replace some income tax; there appears to be a policy of pursuing a 10% tariff on all imports (from those who come to the table and "do deals"). Some will (have already) and some won't.
If this results in say 400 billion in extra Tariff revenue and better trade deals with some countries then perhaps overall imports will not drop significantly but rather they will come from places where the best trade details will be made. The trade deals are two way so the US's current export of Tangible goods being around 2 Trillion could grow significantly; especially as its local production capacity continues to grow.
If US Manufacturing sees two reasons to get off its backside
1) Cheaper to produce in the US
2) More Open Export Markets
Globalists currently manufacturing in third world locations and parking their profits in tax havens are forced to set up shop in the US (if they are to continue their near monopoly grip and control over most goods; let's hope some of that grip is lost).
This "forced" US activity makes it much more difficult to hide company profits (Whihc currently also make up an insignificant contribution to government revenue) and the US manufacturing companies have no choice but to contribute to US Payroll Taxes.
Who knows maybe people will be able to walk into a US retail environment one day and not have to scratch through the wares to find something NOT made in China or even find some things once again made in the US.
Prof Richard Werner explains modern banking three years ago which supports BOOM's contentions:
https://www.youtube.com/watch?v=2e7gme3CZbo&t=951s
Note at 9 min mark - discussion about the importance of cash! BOOM's baby!
Great Piece - If we do not take Trump Literally at his word that Tariffs will replace (all) income tax but rather it replace some income tax; there appears to be a policy of pursuing a 10% tariff on all imports (from those who come to the table and "do deals"). Some will (have already) and some won't.
If this results in say 400 billion in extra Tariff revenue and better trade deals with some countries then perhaps overall imports will not drop significantly but rather they will come from places where the best trade details will be made. The trade deals are two way so the US's current export of Tangible goods being around 2 Trillion could grow significantly; especially as its local production capacity continues to grow.
What is exported see: https://www.bea.gov/news/2024/us-international-trade-goods-and-services-december-and-annual-2023
If US Manufacturing sees two reasons to get off its backside
1) Cheaper to produce in the US
2) More Open Export Markets
Globalists currently manufacturing in third world locations and parking their profits in tax havens are forced to set up shop in the US (if they are to continue their near monopoly grip and control over most goods; let's hope some of that grip is lost).
This "forced" US activity makes it much more difficult to hide company profits (Whihc currently also make up an insignificant contribution to government revenue) and the US manufacturing companies have no choice but to contribute to US Payroll Taxes.
Who knows maybe people will be able to walk into a US retail environment one day and not have to scratch through the wares to find something NOT made in China or even find some things once again made in the US.