Bessent wants to be a gentle lover of the economy. He’s got his work cut out for him convincing his boss to take things slow.
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Like when inflation “gradually” went up a tad each month and we barely noticed.
And like when tax cuts paid for themselves and I am practicing my two-handed windmill slam dunks in my driveway, by the time we account for the rise in the dollar and price reductions by foreign manufacturers, we won’t even feel like we are paying a sales tax.
In fact, we might as well say prices will go down. Why not?
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I got a $9,000 qualified dividends surprise when I did my estimated taxes as a result of that $900,000 ACATs theft from my Vanguard account in September. When they changed account numbers to prevent addition fraud, Vanguard miscalculated my year-end totals and the Roth IRA conversion I did relying on the bad number caused me to jump into the next IRMAA bracket for 2026 by about $5,000.
Looks like the Trump Administration is going to jump inflation high enough by then so that I’ll be OK.
intercst
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Maybe 2.5%, instead of the 10% base rate proposed before. But what about the countries where TNG has a particular axe to grind, like Mexico?
Steve
1 Like
I’m sure that you’ll still want to use the 25% to 100% tariffs on select countries to force your preferred policy implementation.
So far it’s worked in Europe, Canada, and Columbia.
intercst
4 Likes