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@CGasparino @SecScottBessent @howardlutnick How is this breaking?

Breaking — Seems like tomorrow is the day we get some daylight of trade deals both @SecScottBessent and @howardlutnick making the rounds

@umichvoter Exhibit 1 of this is the CTU in Chicago. Blue city, generally very sympathetic to the working class, but broadly unhappy with the teachers union

really hurts the perceptions of unions and feeds into the GOP attacks regarding labor

Sean Spiller's campaign is being boosted by a $35 million blank check "funded largely with public schoolteachers’ union dues" Absolutely grotesque stuff. No one should be voting for this guy nytimes.com/2025/04/09/nyr…

@JosephPolitano and the bond market is crashing...

Good morning. It is now 12:01 AM, meaning the largest tariff hike in US history has gone into effect There's now another 10-40% tariff on imports from most nations & another 74% tariff on China ~3/4 of imports are now hit by tariffs, and the average US tariff rate is up to ~30%

@ArmandDoma the graphic is also outdated 😂

that is A YEAR of growth!!!

@buccocapital He honestly would struggle to come off more poorly if he tried. Shit ideas, negative rizz, leaking insecurity. Honestly crazy.

@RealNeilRaina oh 100%, it's balancing the chances of "oh he'll finally see reason" vs "lol, no he won't"

@RealNeilRaina He doesn't give a shit about what's unfair, just what's "unfair" to him. The idea he could be called a sucker.

@RealNeilRaina also probable he's just really stupid, doesn't understand trade fundamentally, and stubborn as all hell - will never admit a mistake, even if he slowly realizes he's made one

@Thebrucemonaco @pilkijam @ramit You seem hung up on me calling it a sales tax for the terminology alone. Fine, it's just a tax. Nothing meaningful changes from that point on about its impact. Funny you're calling me smart now, you called me a retard like 5 minutes ago.

This MAGA supports tariffs, so I asked which factory he was going to work in when we "bring back manufacturing" His response: "I will own the factory" lmaooo

@Thebrucemonaco @pilkijam @ramit E.g., why is gas so much more expensive in IL than WI? It's mostly tax (no real formulation regulation differences). The producer isn't collecting more margin but they are offloading the cost to the consumer.

@Thebrucemonaco @pilkijam @ramit You do share the burden of a sales tax with the company selling you a good. Again, one of the first lessons of econ 101 is that taxes are born by both parties based on their elasticities, and it's immaterial who sends the check.

@VeeDub1999 @jtevelow @ramit He'll be lowering them, but not on the poor and middle class. The framework that passed the Senate just today reduces it for the wealthy.

@jtevelow @ramit I’ll be saving your post

Suggestions for current stock market: 1. Don't panic. I'm not selling any stocks (why would I? They're for long-term investments.) During chaotic times, people make rash decisions that have life-changing ramifications. Even people who preach "long-term investing" see 1 day, then 1 week, then 1 month of bad news and eventually capitulate. That decision will haunt them forever. 2. Build a war chest. I would encourage a 12-month emergency fund. Normally I recommend 3-6 months. During COVID I recommended 12. Because of the massive uncertainty of the Trump admin, I'd recommend being more conservative. If you can't do 12, focus on 6. Cut discretionary spending before the world forces you to. 3. You should be pissed off. The sudden, large decline in the stock market was caused by one thing only: Trump. There was no reason to levy these tariffs, which will cost the average American family thousands of dollars -- all to give wealthy people like me a massive, unnecessary tax cut. Money is deeply political. Don't panic, build a war chest, and get mad. More on my other social channels.

@WyEastman @ramit The tax cuts add $2.5 trillion to the debt, what are you talking about

@ramit Let the Trump/Bush Tax Cuts expire & Levy the Tariffs The economy wouldn't be great but at least we could approach a balanced budget No one wants to cut govt spending, so raise the taxes Printing money to cover the difference off the deficit isnt going to last forever

A MAGA was arguing that tariffs are actually a good thing. I asked if he supported paying an extra $2,500+ per year for household goods so that I can get a massive tax cut and use his money for one night at a luxury hotel He deleted his comment

@ramit Not sure if MAGAs will find it convincing, but wonder if you can just use an analogy of US states. Shouldn't people in Wisconsin grow their own oranges if they want juice? Florida is taking advantage of them.