If Donald Trump loses his Supreme Court fight over tariffs, the US may be forced to return “tens of billions of dollars to companies that have paid import fees this year, plus interest,” The Atlantic reported. And the longer the verdict is delayed, the higher the refunds could go, possibly even hitting $1 trillion.
38 Comments
gilindoeslemmy@lemmy.world · 159 pts · 262d
What percentage of that money refunded to companies will be given back to the consumers that they passed the costs onto? Hmmmmmmmmm
faltryka@lemmy.world · 95 pts · 262d
Zero
PP_BOY_@lemmy.world · 50 pts · 262d
But surely the companies would lower their prices once tariffs went away, right?
capt_wolf@lemmy.world · 50 pts · 262d
PP_BOY_@lemmy.world · 16 pts · 262d
You mean to tell me that companies would take advantage of a temporary disruption in the markets to justify a permanent price increase? That the rules of our economic model even forbid the lowering of costs? Surely you've been mistaken
Sunflier@lemmy.world · 1 pts · 260d
We're not mistaken and don't call me Shirley.
faltryka@lemmy.world · 9 pts · 262d
Unfortunately…
They would be “derelict in their fiduciary responsibility to their shareholders” to charge less than we will pay, and what we will pay changed.
PP_BOY_@lemmy.world · 6 pts · 262d
And I'm supposed to believe that "I give you fish because you're hungry and you give me a jacket because I'm cold" is a less-advanced, more primitive model than this?
arrow74@lemmy.zip · 19 pts · 262d
Okay but to be fair how would companies even go about doing that? I know they won't want to, but even if they did it's not possible.
What's more damning is that even if the tariffs are reversed they will keep the tariff related price hikes and pocket the difference. As we saw companies wil use any excuse to increase prices
TrickDacy@lemmy.world · 15 pts · 262d
I mean yes, exactly. All reasons the tariffs were indefensible to begin with. The damage largely cannot be undone so it was never even excusable as something to try even if done in good faith
faltryka@lemmy.world · 2 pts · 262d
Everything you said is correct.
TrickDacy@lemmy.world · 5 pts · 262d
TrIcKLE dOwN tHo
ThePantser@sh.itjust.works · 12 pts · 262d
That's when we just steal their products for a while until we feel whole.
SARGE@startrek.website · 9 pts · 262d
wheezy@lemmy.ml · 7 pts · 262d
You guys haven't been stealing at self checkout for years already? God damn. Do your class duty!
evenglow@lemmy.world · 8 pts · 262d
Why do you think Republicans want people talking about dividend checks?
What percentage of that tariff tax hasn't already been spent on bunkers and ballrooms?
Geodad@lemmy.world · 63 pts · 262d
frezik@lemmy.blahaj.zone · 47 pts · 262d
Morally, yes. Legally, it's going back to the companies, and they'll pocket the money and walk away.
madcaesar@lemmy.world · 24 pts · 262d
LMAO Republicans grifting is next level... That's a really convoluted way to move money from the working class to the oligarchy.
Cudos. And if course the paste eating magat is none the wiser.
Sunflier@lemmy.world · 2 pts · 261d
Don't expect the peices to fall either
phoenixz@lemmy.ca · 21 pts · 262d
And we all know that the companies will get the refunds and the people can go fuck themselves. Come on, that's how it works.
Brunbrun6766@lemmy.world · 10 pts · 262d
And we all know it will only be the big companies and not a single smaller company
Doomsider@lemmy.world · 61 pts · 262d
The total collected so far is under two hundred billion. We would have gotten more in taxes if we had just taxed the rich and they would have barely noticed it.
partofthevoice@lemmy.zip · 25 pts · 261d
And why the fuck would companies get the refund? The costs of their import fees were passed onto consumers. Another fucking payday for the slime fucks while the actual population of human beings suffers?
Sunflier@lemmy.world · 9 pts · 261d
-Trump, Republicans, and the corporate elite.
Bakkoda@lemmy.zip · 7 pts · 261d
Literally the point. US government and the businesses in this country are all pretty much on the same team and you aren't.
Lucidlethargy@sh.itjust.works · 5 pts · 261d
They'd have bitched, then gone back to doing every goddamn thing they did before.
Nothing impacts the ultra-rich. A fortune to us, it's nothing to them.
macaro@lemmy.blahaj.zone · 37 pts · 262d
What happens when you preemptively comply:…. Also I hate that the courts are legislating since Congress is doing nothing. If the law was clear the tariffs would’ve never been a thing.
ubergeek@lemmy.today · 43 pts · 262d
The law is clear, we just have a POTUS who doesnt care what the law says, a congress refusing to act as a check on the executive branch, and the courts are mostly captured by Trump.
NatakuNox@lemmy.world · 3 pts · 262d
Yup. Because the other two branches of government are ran buy the same money grubbing capitalist mind virus, the courts and legislators went along because of fear of the working class emancipation.
Gates9@sh.itjust.works · 11 pts · 261d
Trump’s Commerce Secretary Loves Tariffs. His Former Investment Bank Is Taking Bets Against Them
A subsidiary of Cantor Fitzgerald, which is run by the sons of US commerce secretary Howard Lutnick, is letting clients essentially bet that President Donald Trump’s tariffs will be struck down in court.
https://www.wired.com/story/cantor-fitzgerald-trump-tariff-refunds/
NotMyOldRedditName@lemmy.world · 3 pts · 261d
After i heard the supreme courts initial reaction during oral arguments I was wondering if Vegas bookies started taking bets on it. I imagine so given something like this heh.
curiousaur@reddthat.com · 9 pts · 262d
There are middleman companies that have been handling the tarrifs for other companies. Those middlemen are Trump's friends. The money will all go to them. It's been a big slow robbery this whole time.
khepri@lemmy.world · 8 pts · 261d
Clarence Thomas's RV votes "No" on tariff refunds.
Fleur_@lemmynsfw.com · 6 pts · 262d
Well then I guess it's just not fucking happening then
NatakuNox@lemmy.world · 6 pts · 262d
FreshParsnip@lemmy.ca · 5 pts · 260d
Get Musk to pay the bill
BonkTheAnnoyed@lemmy.blahaj.zone · 2 pts · 262d
I happen to know of a newly minted trillionaire whom in a just world would reasonable be asked to foot the bill
Pat_Riot@lemmy.today · 2 pts · 262d
In a sane world someone would slay that dragon and disperse its wealth back into the people. It's time to start slaying dragons.
Smoogs@lemmy.world · 2 pts · 260d
Once again : tariffs do not help you.