Trump’s $2 Trillion Tariff Gambit: What It Means for YOU

He calls himself The Tariff Man.

But will working people in the US learn to love import taxes as much as Donald Trump?

Join us as we dig deep into the President-elect’s plan to impose yuge tariffs on foreign goods entering the United States. Will they make America finally be great again? Tune in to find out.

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📺 Essential Videos 📺

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- TIMESTAMPS -

0:00 Intro
0:35 What are Tariffs and Why Should I Care?
3:16 Tariffs in American History
9:14 Trump-Biden Tariffs: A Bipartisan Trade War
15:19 How Trump’s Giga Tariffs Would Affect the US Economy
22:02 Conclusion: Let’s Make America 1890 Again?
23:02 Subscribe for More Crypto Insights

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📜 Disclaimer 📜

The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.

#US #Economy #Politics

[reima]

Haven't watched Coin Bureau for a long while. I'm just amazed how buff Guy has gotten ❤

[ZombieCorp]

5:20 This is the problem though, it's not free trade when your competitors use slave labor, so your own countries' companies gut their manufacturing base and send it over seas, to "compete ". In return, you pay for expensive goods made for cents on the dollar, and you have no job.

[johnsordillo]

Yeah, during Hoover we were a major exporter. Now, the only thing we export (mostly) is dollars/debt...

[SeekerStudiosOfficial]

When you spend your money at corporations, the money flows upward, ultimately coming to rest and to stay in the hands of billionaires. When you spend your money at local family owned businesses that are not obligated to some parent company, which is a corporation, then you are keeping your money at home with the people... the people who need it.
...
If you want to start a business start a business, that does something corporations don't do yet.

[cplex]

Per usual, Coin Bureau hitting us with another high quality, informational video. Thanks! 🙏🏻

[sinhalo]

No one mentions tariffs also enable those who produce domestic goods to raise their prices as well. Take a $100 product. Tariffs bring that foreign product to $120/$130. The domestic producer can raise it to $110/$115 and still be cheaper than the foreign product. So the consumer loses as well, again.

[SeekerStudiosOfficial]

meanwhile... the elite class who manipulated this entire process into occurring and taking place exactly as it has move onto the next part of their plan, after counting this as a success.

[davidwebb]

To be clear, the US debt and overspending has to be balanced somehow. Amerika has been living off its credit card for decades. Time to sort that out…

[tinker]

this video was well-thought-out and extremely informative. Thank you very much for presenting it.

[gravity]

Tariff away!!! What's insane is that England is barely a country anymore.

[rocketcitydrones]

Just another TAX that disproportionally hurts those with smaller discretionary budgets -- middle, lower class-- I don't want more expensive goods and services.

[strutt]

America can be a completely standalone Nation. And actually just the state of Texas alone can be a completely standalone Nation. They need absolutely nothing from no one. Have food energy natural resources all of it.

[cmax]

Tariffs, in my mind, are far more acceptable than relying on forever wars to stumulate the economy.

[X-ew]

Justified when tariffs are used strategically to avoid becoming dependent on others.

[Purjo]

Tariffs are flat (or regressive) taxes that are baked into the price of goods. Unless you are in the top 10 %, you will have less purchasing power under a high tariff regime. Growing productivity is the answer to higher salaries, not using tariffs instead of less damaging federal income taxation that mostly hurts the rich people due to its progressive nature.

[noleftturns]

So I asked AI (Perplexity) this question:
Q: How many years did the US government get most of its revenue from tariffs before the income tax surpassed the revenue

AI:
The United States government relied heavily on tariffs as its primary source of revenue for over a century before the income tax surpassed tariff revenue. Specifically:

From 1789, when the Constitution was ratified and the federal government gained the power to levy tariffs, until 1913, when the 16th Amendment was ratified allowing for a federal income tax, tariffs were the largest source of federal revenue for most of this period[1][5].

This means tariffs were the main revenue source for approximately 124 years, from 1789 to 1913.

Some key points about this period:

1. In the early years of the republic, tariffs provided up to 95% of federal revenue at times[6].

2. Tariffs remained the largest single source of federal revenue from the 1790s until just before World War I[5].

3. In 1915, customs duties (tariffs) still accounted for 30.1% of federal revenue, though this was now second to individual income taxes[1].

4. The shift away from tariffs as the primary revenue source began with the ratification of the 16th Amendment in 1913, which allowed for a federal income tax[5].

5. After 1913, income taxes quickly grew to become the largest source of federal revenue, while tariffs declined in relative importance[1][5].

It's worth noting that there were brief periods during this 124-year span when other sources temporarily surpassed tariffs, such as during the Civil War when excise taxes briefly became the largest revenue source. However, tariffs quickly regained their position as the primary revenue source after the war ended[5][6].

Citations:
[I removed the web links]

So for 1/2 of the US existence, tariffs funded America
they can do so again with no problem

[syed]

We the US citizens has to pay Tariffs and people will Suffer.

[pperrinuk]

This 101 is decades out of date. In the UK, domestic energy taxes are sky-high, leaving UK manufacturers crushed by these bogus charges. It would only be sensible to apply the same pressure to foreign imports.

If the UK government taxes its own companies heavily on energy, it's only 'fair' to impose tariffs on foreign goods produced using cheap energy.

[terbligt]

Well explained. Tariffs make for good campaign talk, but many people don’t realize that consumers pay the price directly and indirectly. They won’t solve the problem of America’s competitive disadvantages, but other policy approaches could.

[nadie]

I disagree but you present real facts on the issue. Hoover was a different time, different circumstances, and no Asian dominance at all.