Hi, Shrewd!        Login  
Shrewd'm.com 
A merry & shrewd investing community
Best Of MacroBest OfAll BoardsThe Shrewd’m WeeklyLearn to InvestHow to Become Shrewd
Search
Shrewd'm.com Merry shrewd investors
Search
Best Of MacroBest OfAll BoardsThe Shrewd’m WeeklyLearn to InvestHow to Become Shrewd


The week's question
In December 2024, in the thread "Re: BRK: Why Not XOM?", BreckHutHigh asked the members: "What about the long road trips with kids?" This week it is put to everyone again. The button below opens the small thread re-asking it - read what others have said so far, then give your own answer as an ordinary reply.
Answer this questionContinue to Shrewd'mThis note won't appear again
Personal Finance / Macroeconomic Trends & Risks
Unthreaded | Threaded | Whole Thread (13) |
Author: Goofyhoofy 🐝 HONORARY
SHREWD
  😊 😞

Number: of 4460 
Subject: Re: Trump threatens a Tariff Tantrum
Date: 08/26/25 12:45 PM
Post New | Post Reply | Report Post | Recommend It!
No. of Recommendations: 12
As suggested elsewhere, the objective seems to be to turn the clock back to 1912: when much of Federal revenue came from tariffs, and there was no income tax. If that is the case, we can look forward to tariffs being continually stepped up, until revenue is sufficient to replace the income tax.

Not to overstate the obvious, but there is no way.

In 1912 there were hardly any paved roads, and certainly no Federally funded roads. There was no NASA, no weather satellites, no CIA or FBI. We had a spit of a standing army or navy, and certainly no Air Force (or Space Force). No missiles to build and maintain. There was no regulation of food or drugs, no Federal flood insurance, no funded science research, no disability or Medicaid, no veterans hospitals, no missile defense or nuclear programsj.

There was, of course, no FAA, no FCC, and no assistance for public transit. Headstart didn’t exist, and there were no pollution control programs or rules. Heck, the IRS didn’t exist.

You want to fund it all with sales taxes (*I’m sorry: tariffs). You’re gonna see humongous increases in the price of everything except wheat and soybeans. We’re really good at wheat and soybeans. Also social media, which is already free, but maybe there’s a way to make a dime off of it? (Sure, just threaten to close it down because of “[insert faux] EMERGENCY!” But allow it to continue if they just give you 20% of the vig.

Yeah, there are lots of movies about this, mostly with fat guys in fedora hats.
Post New | Post Reply | Report Post | Recommend It!
Print the post
Members reply directly to Goofyhoofy here — and replies get answered. Reading is free; so is joining the conversation. Join Shrewd'm »
This community has written 4,454 posts about Macroeconomic Trends & Risks. The article-length ones it recommended most:
AI Tarpits · 36 recs · 2026
End of an era - profit slowdown · 36 recs · 2023
Control Panel: Trend changes in 2026 · 34 recs · 2026
From the Oregon Bay Area (a blogger) · 33 recs · 2025
Lerner Symmetry Theorem · 32 recs · 2025
Unthreaded | Threaded | Whole Thread (13) |


Announcements
Macroeconomic Trends & Risks FAQ
Contact Shrewd'm
Contact the developer of these message boards.

Best Of Macro | Best Of | Favourites & Replies | All Boards | Followed Shrewds | Open Questions | Moving a community