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by jqpabc123 436 days ago
Does Musk's thinking make as much sense as people intentionally voting for massive new taxes?

Peter Navarro said that he expects Trump’s tariffs to bring in $6 trillion in revenue over the next decade.

The MAGA economic miracle is actually the largest tax hike in US history --- to be paid entirely by US voters/consumers.

Nothing about MAGA (or Musk) economics makes any sense. In the words of Warren Buffet, the tooth fairy isn't going to pay these tariffs.
1 comments
ttyprintk 436 days ago
A -2% effect on GDP would make that a wash. So, for Trump to satisfy Navarro, he needs to beat 2% GDP growth, which he routinely could in his first term. Biden was often double Trump’s GDP growth rate.
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jqpabc123 436 days ago
he needs to beat 2% GDP growth

Hard to grow GDP while also working to isolate the US economy from world markets.

This won't end well for most people --- but especially not for MAGA voters.

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