
if you had 8k taken out for taxes and still owe them 300 it means you’ve made ~$50000 if you’re including FICA/Medicare or ~$73000 if you didn’t. Either way, you afford stuff with that money. Manage your finances better and finding out you owe 300 dollars in taxes you didn’t pay won’t be a catastrophic financial event
It’s when tariffs replace income taxes and the debt erased which will then bring the buying power back to the dollar. We live in a debt based economy for decades that benefited the people who got the loans at first but puts future generations in an inflationary prison. It was never suppose to last long but a foreign policy scheme of bureaucracy taking over the economy.
It’s truly so saddening, I’m chronically ill and I work my ass off and still can’t afford basic things like my medically necessary appointments or groceries. I had to stop uni bc I couldn’t afford it and I’ve been trying for the last year. I’ve been applying to more jobs to no avail. I’m exhausted
Other countries have uneven tariffs with the US and income taxes along with a central bank to get into debt. What you say is correct when it’s uneven tariffs but when it’s balance trade where the tariff matches the tariffs of the other country then it zeros out. One country can get 5 bucks from the US and the US gets one dollar. Balanced trade means it’s 1 dollar both sides.
When it’s balance trade. It’s the intermediaries that pay for it, in essence the middle men. There are exceptions like car parts and lumber but that is largely due to uneven tariffs as to why it’s sourced that way before. Canada lobbied hard to get favorable treatment for their lumber which is why the lumber industry in Northern California vanished and pot dispensaries filled that void.
This is why the tariff economy is running parallel to to the debt economy in the US. The idea is to emanate the income taxes and basically erase the debt. Then the whole economy has to cross that bridge from the debt system to the tariff system. Most do not see this but I believe will happen because how the hard right has been winning office in the western world.
An example is comparing construction and hospitals. In the 1930s, a nurse and office worker both made the same annually but per hour the nurse made more. However the nurse didn’t get all the hours and was on call. To make more was to be a traveling nurse to make enough hours. Hospitals back then operated that way with both nurses and doctors needing to travel or their speciality was such in demand they didn’t need to travel. Often they needed to travel.
As time passed, the hospitals made all these positions full time and no longer on call. They shifted from a project based system to a full time system. Costs kept going up and as an industry it doesn’t have a ceiling with 12% increase in costs each year which is why healthcare costs are not affordable. It’s an industry that can price fix and raid the budget of a family. Debt in the economy enables this.
In construction, a lot of still project based and the workers are tethered by project. So in essence they are on call. Bureaucracy isn’t as existent versus the hospitals. A tariff economy will basically force other industries to operate on a project basis like construction and the jobs will be on call.
A tariff economy has products made and sourced in the US bringing jobs and erasing the debt brings back the buying power. These changes makes the on call basis of jobs actually affordable and supporting families thus moving the economy to a time prior to World War Two and without the central bank the late 1800s.
Also why is it other countries have built their economies on uneven trade and that is considered good but for the US to have balanced trade considered bad? Because that b comes an asset stripping scheme overtime. The structural problems have to be addressed. Balance trade will give the US the advantage when other countries rely on income taxes and uneven trade. Their economies can’t sustain itself and even their healthcare because it relies on discounted US goods.