291–300 of 843 posts
Absolutely absurd that we’re at this point. The courts / SCOTUS let the government roll out a massive and obviously illegal tax on citizens for a long time. They should have stepped in earlier. Now we the people probably don’t get our money back….
Every company that collected a tariff fee needs to refund it as they collect their own refunds.
Absolutely absurd that we’re at this point. The courts / SCOTUS let the government roll out a massive and obviously illegal tax on citizens for a long time. They should have stepped in earlier. Now we the people probably don’t get our money back….
The latest temporary tariffs are also likely illegal.
Earlier quoted context omitted.
>if you facilitate the legislation of tarrifs that you knew are illegal? Did they know it was illegal? Any more than say, the Biden administration "knew" that forgiving student loans were illegal?
They literally spent a decent chunk of money spinning up a line of business that could only make money if the tariffs were illegal.
Cantor Fitzgerald, formerly led by Commerce Secretary Howard Lutnick and is now run by his son, went to various companies that were affected by tariffs and bought the rights to their potential tariff refunds for 20% of the value on the expectation that it'd be struck down by the courts. Now they stand to make huge returns of 3 to 5x for being correct on that bet, while, of course, consumers get nothing. Now if this i…
This is wrong. It's not insider trading. Lutnick didn't have inside information. His son just had a brain. Anyone who read the case knew which way the court was going, it was the least surprising decision ever. Perhaps the only surprising thing is that the court ever heard it.
Earlier quoted context omitted.
This is wrong. It's not insider trading. Lutnick didn't have inside information. His son just had a brain. Anyone who read the case knew which way the court was going, it was the least surprising decision ever. Perhaps the only surprising thing is that the court ever heard it.
It's not insider trading, but surely it's a conflict of interesting? If you ignore all the specific name calling, isn't it still quite wrong that one minister can financially bet against the administration?
Why?
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Ironically I was mildly in favor of tariffs from the left pov. Reduced consumption and getting more taxes to help pay down the debt. Consumption was likely mildly reduced (and still is with the 15% tax) but now we have more inflation coming our way when those billions start flowing and our debt just keeps going up.
The ironic part is not that you were mildly in favor from the left, the ironic part is that they came from the right.
Pre-Trump, the right was very anti-tariff and only a portion of the left was pro tariff, the Bernie Sanders type.
Side topic, but this number puts into how crazy it was for trump[0] to go on tariff war against enemies and friends alike. All the propaganda and extortionist language about how all countries will pay up to USA. Astronomical tariffs in some cases, trade wars and dramas, alienate all allies and from all of this they got only $130B ? $7T of spending, $1.77T in deficit[1] and they planned to fix this hole with $100B?! M…
Earlier quoted context omitted.
He presumably did not have access to the court's opinion before it was released, but he did have access to internal White House legal opinions before the tariffs were announced ("Mr. President this is illegal and very likely to be overturned by the courts"), and he obviously had access to the entire federal legal team during the court cases. I can't prove that there was any White House advisory memo before the tariff…
>I can't prove that there was any White House advisory memo before the tariffs were announced, but hypothetically, would this not be considered material nonpublic information? Was the hypothetical "White House advisory memo" produced using any proprietary information? If not, why should it be any different than if I hired a bunch of top lawyers to produce a private report for me?
In this hypothetical case, of course. There is no evidence that such a memo exists. But if it did...
Trump doesn't care who went bankrupt or lost money, he was able to create a whole pile of red number buying opportunities for his friends in the know. And for himself.
It's now an age of oligarchy, stable corporate capitalism and gentlemanly bourgeois behaviour and the appearance of "rules based order" and equally brokered commerce is out, schoolyard bully attitude and "give me your lunch money" is in.
If you still want to profit, you make friends with the right people, kiss the ring, and get permission to become a highwayman or parasite like the rest of them.
At the bottom, is us. I don't think any election can put the cork back in this bottle. The only thing that will end this decline is an angry non-compliant populace that is sick of getting a very bad deal.
Earlier quoted context omitted.
You put the money on an investment pool and pay the citizens back in: * Direct Cash (using some equation for impoverished households) * Infrastructure * Better life conditions No other uses for this money. The returns and the uses of this money must be public.
Excuse me, this is the Inited States we’re talking about. You’re getting mighty close to socialism there citizen.