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.

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[–] 155 points 1 year ago (15 children)

What percentage of that money refunded to companies will be given back to the consumers that they passed the costs onto? Hmmmmmmmmm

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  • [–] 95 points 1 year ago (10 children)
  • [–] 50 points 1 year ago (5 children)

    But surely the companies would lower their prices once tariffs went away, right?

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  • [–] 50 points 1 year ago (2 children)
  • [–] 9 points 1 year ago (1 child)

    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.

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  • [–] 20 points 1 year ago (2 children)

    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

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  • [–] 15 points 1 year ago

    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

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  • [+] 61 points 1 year ago (5 children)
  • [–] 46 points 11 months ago (2 children)

    Morally, yes. Legally, it's going back to the companies, and they'll pocket the money and walk away.

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  • [–] 23 points 11 months ago

    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.

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  • [–] 59 points 11 months ago (4 children)

    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.

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  • [–] 24 points 11 months ago* (2 children)

    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?

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  • [–] 37 points 1 year ago (2 children)

    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.

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  • [–] 3 points 1 year ago

    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.

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  • [–] 11 points 11 months ago (1 child)

    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/

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  • [–] 9 points 1 year ago

    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.

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  • [–] 8 points 11 months ago

    Clarence Thomas's RV votes "No" on tariff refunds.

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  • [–] 6 points 1 year ago
    [–] 6 points 1 year ago

    Well then I guess it's just not fucking happening then

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  • [–] 5 points 11 months ago

    Get Musk to pay the bill

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  • [–] 2 points 11 months ago

    Once again : tariffs do not help you.

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  • [–] 2 points 11 months ago (1 child)

    I happen to know of a newly minted trillionaire whom in a just world would reasonable be asked to foot the bill

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  • 13 comments in c/news@lemmy.world view that post
    [–] 58 points 11 months ago* (7 children)
    • Step 1: Tariff everybody!
    • Step 2: Refund the importers.
    • Step 3: Wait for the refunds to trickle down to the people who paid them...
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  • [+] 36 points 11 months ago (4 children)
  • [+] -12 points 11 months ago (2 children)

    Doing that you only helped the Orange in bringing in even more tariffs.

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  • [–] 18 points 11 months ago* (1 child)

    How dare they not screw over their customers?

    Gawd. Damned if you do, damned if you don't around here.

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  • [–] 0 points 11 months ago

    Who screwed them in first place, eh? So, the short term effect of tariffs doesn't show any inflation which makes the Orange go - look, no inflation, I should impose even more tariffs. Which scenario is better for customers in mid-long term then? Short one when inflation hits hard and TACO or this, when businesses silently pay and suffer while consumers will be hit harder later on?

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  • [–] 11 points 11 months ago

    Oh no!

    Guess we’ll have to attainder Musk to make up the difference.

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  • [–] 11 points 11 months ago (1 child)

    What would this look like in practice? I’m betting money laundering so that corporations can double dip; they passed the tariff charge onto consumers through higher prices but somehow it will be justified that the vast majority of any refunds will go to corporations because they ultimately paid the tariffs directly. So you paid the tariff indirectly that way then you’ll pay again via taxes because everyone knows they’ve pissed away whatever money was raised through this dumb shit.

    If they’re smart they’ll earmark 1/4-1/3rd of it to send out $1000 refund checks. It won’t make up for what tariffs have cost the average american household (barely half, by many estimates) but it’ll be enough “free money” to convince idiot voters to come out in numbers especially if well timed

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  • [–] 1 point 11 months ago

    A lot of importers have already sold off their refund rights... If they did this without an act of Congress, they'd probably end up paying twice

    Also, the tarrifs were projected to bring in 3 trillion over a decade. It's been like 6 months... This feels suspect

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  • [+] 10 points 11 months ago (1 child)