r/wallstreetbets • u/s1n0d3utscht3k • Mar 03 '25

News Trump Officially Signs 20% Tariffs on China

https://www.barrons.com/news/trump-signs-order-for-20-tariff-on-china-w-house-d6fec57f
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u/Katnisshunter Mar 03 '25

I think trying to abolish federal income tax and move to consumption tax. More tax burden on consumers.

85

u/fumar Mar 03 '25

Functional poor tax

22

u/rancid_squirts Mar 03 '25

What happens to taxes once everyone stops consuming?

40

u/Katnisshunter Mar 03 '25

You design the game so you are required to consume.

7

u/trwawy05312015 Mar 03 '25

they are trying to make the whole country a factory town

2

u/haruSPICYhyrax Mar 04 '25

Who knows what would actually happen, but I saw mention that there would a sales/consumption tax credit for people below a certain income threshold. Not sure how that is tracked with the IRS abolished.

1

u/meridianblade Mar 04 '25

They will just change they S from Service to Serfdom.

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u/a_f_s-29 26d ago

Great for the environment lol