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eggman 🔵
@eggman.eth
Believe it or not, $BTC is still holding its bull market support band. It is the only cryptoasset above this mark.
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YES2Crypto 🎩 🟪🟡
@yes2crypto.eth
some feel it's disappointing that BTC is only up 20% since election night.
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eggman 🔵
@eggman.eth
I don't think some were aware that the leader of the free world would engage in creating new 10-25%+ consumer taxes on his population via tariffs
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YES2Crypto 🎩 🟪🟡
@yes2crypto.eth
I thought the tariffs would bring in revenue, and then eventually reduce the income taxes. https://www.bankrate.com/taxes/trumps-latest-tax-proposal-no-taxes-for-those-earning-less-than-150000/ or is there some other consumer tax we're talking about. ie, if something cost $100 before, tariffs (if consumer decides to still buy externally) would increase the price, and then the sales tax goes up? yet another reason and incentive for manufacturing, jobs, assembly etc to increase domestically. Americans get cheaper goods, more work, more GDP, less income taxes. what else am I missing
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eggman 🔵
@eggman.eth
You don't get cheaper goods - a lot of reason for the use of imports isn't because the US can't say, mass-produce chairs or anything like that. It's because it's economically unfeasible to even pay minimum wage to staff when you're talking about the type of margins that companies outside of the US would operate on to produce these goods. So unless people want to start paying major dollars for mass-produced tat, it just means they'll get to pay 10-25%+ taxes on them. Still infinitely cheaper than trying to produce them at home either way. Then on the side of things like semiconductors; America lost that race a long long time ago. Even if TSMC wanted to relocate to the US in full, it'd take decades to build anything near the scale of their Taiwan base. So in the meantime, just another consumer tax on computer chips that have no actual alternative available at home, and won't for 20+ years (pending they start building those foundries today). It's just new taxes to bleed consumers with.
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