Just before Trump’s first election to the presidency, my wife and I enjoyed a river cruise in Bordeaux’s wine country. On the cruise I sat with an elderly man who had been in the financial industry in New York. Inevitably the conversation turned to the possibility of a Trump presidency. This was his exact comment: “I have know Donald Trump his entire life and I can tell you one thing, Donald Trump has never done anything for anyone except Donald Trump. If elected he will do the same as president.”
Tariffs: did you listen when Trump told you he wanted to get rid of the income tax and replace it with tariffs? Did you listen closely when he lied to you and told you that other countries would pay the tariffs, allowing him to get rid of the income tax, replacing that income stream with tariff money? When he told you that this would essentially guarantee that the costs of running out government would be shouldered by the rest of the world?
Stop for a moment and think about who that would benefit? Of course, Donald Trump! Why? This would eliminate any income tax Trump would have to pay, replacing that money with money collected through tariffs. Which if it still hasn’t dawned on you, foreign governments don’t pay tariffs, you do!
So you will be paying Donald Trumps’s taxes for him, through your purchases.
The next time he suggests something, the first thing you should ask yourself is “what does he or his family get out of the deal”? Bitcoin anyone?
Phil O’Loane
Arlington
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