SCHULZ: “If [Trump] announces at the end of the year … we're eradicating income tax for people making under $150,000, midterms are going red.”

CHAMATH: “Forget midterms. They'll want Trump for the third term.”

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Discussion

Yes, but these tariffs, which Americans pay in higher prices, have to replace the income tax revenues, which Americans pay. There’s no free lunch.

*If they buy stuff from China and the rest of the world