Supreme Court strikes down Trump tariffs 6-3; Tech stocks jump, price effects remain unclear
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| President Trump appears at the 'Make America Wealthy Again' event at the White House. Credit: Chip Somodevilla / Getty Images |
The Supreme Court struck down one of President Donald Trump's signature accomplishments on Friday, ruling 6-3 that the president lacked the authority to impose many of his tariffs.
Since returning to the White House, President Trump has tested the boundaries of executive power, and the Supreme Court decision was a clear check on presidential authority.
In response to the ruling, Trump pledged to impose a new 10 percent global tariff via executive order, citing Section 122 of the Trade Act of 1974. (That statute would allow him to impose the tariffs for 150 days, at which point they would need congressional approval.) A defiant Trump insisted, "I have the right to do tariffs," according to CNBC.
SEE ALSO:People with disabilities are 'eating the cost' of tariffs
Chief Justice John Roberts Jr. issued the court's opinion, which found that the International Emergency Economic Powers Act of 1977 (IEEPA) does not give the president the authority to impose tariffs unilaterally. Roberts Jr. was joined by justices Sonia Sotomayor, Elena Kagan, Neil Gorsuch, Amy Coney Barrett, and Ketanji Brown Jackson, while Brett M. Kavanaugh, Clarence Thomas, and Samuel Alito, Jr. dissented.
"The Framers gave 'Congress alone' the power to impose tariffs during peacetime," Roberts wrote in the majority opinion. "And the foreign affairs implications of tariffs do not make it any more likely that Congress would relinquish its tariff power through vague language, or without careful limits. Accordingly, the President must 'point to clear congressional authorization' to justify his extraordinary assertion of that power."
The ruling ends a year-long legal saga over the tariffs, which faced lawsuits and challenges from the outset. The Constitution clearly grants Congress, not the president, the authority to set tariffs, and Trump's legal justification for his sweeping emergency tariffs has always been sketchy.
However, the Supreme Court decision comes long after the tariffs went into effect, sending shockwaves through the global economy. As Mashable has reported, President Trump's tariffs have led to wide-ranging price increases across industries, with everything from lumber and building supplies to gaming consoles and smartphones seeing price adjustments. Apple CEO Tim Cook estimated in August that Apple faced $1.1 billion in tariff costs in the second quarter of 2025 alone.
Tech stocks began to rally on Friday afternoon following the ruling, with Apple, Amazon, NVIDIA, and Dell stocks climbing, according to Barron's. However, the overall gains have been modest so far.
Shoppers hoping for lower prices as a result of the ruling will likely be disappointed. Many price increases for 2026 products are already baked in, as companies like Apple were forced to shift manufacturing to new markets to try to evade tariffs.
Ravin Gandhi, CEO of GMM Nonstick Coatings and an expert on tariffs, told Mashable that shoppers should not expect any immediate price relief.
"Consumers shouldn’t see meaningful price relief soon. Tariffs were just one piece in the overall pricing structure — and businesses don’t typically lower prices immediately when a cost input disappears — especially with so much inflationary pressure," Gandhi said. "Even though the ruling is legally significant, the short-term economic impact may not happen as fast as the headlines are suggesting."
On top of inflation and tariff-related price increases, an ongoing global memory shortage fueled by the AI industry is also putting upward pressure on tech prices.
While Trump has strong control over the Republican majority in Congress, Gandhi said that reinstating the tariffs could also take time.
"It’s very unlikely that Congress will move quickly to reinstate tariffs," Gandhi said. "Trade policy through Congress is really complex and difficult to do politically — especially with everything being so divided nowadays. Even lawmakers who support the tariffs may start hesitating when it comes to that ownership of the legislative piece."
He concluded, "The most likely scenario is a modified status quo. Markets and supply chains have already adjusted to the tariff framework over several years. Even with the Court’s recent decision, companies will wait for clarity before making significant pricing changes.
On his social network Truth Social, the president called the ruling "deeply disappointing" and accused the Supreme Court of being "swayed by Foreign Interests." He called Roberts and the justices who joined the majority opinion "lapdogs" and a "Disgrace to our Nation."
"I am ashamed of certain Members of the Court for not having the Courage to do what is right for our Country. I would like to thank and congratulate Justices Thomas, Alito, and Kavanaugh for your Strength, Wisdom, and Love of our Country, which is right now very proud of you. When you read the dissenting opinions, there is no way that anyone can argue against them...The Democrats on the Court are thrilled, but they will automatically vote 'NO' against ANYTHING that makes America Strong and Healthy Again. They, also, are a Disgrace to our Nation. Others think they’re being 'politically correct,' which has happened before, far too often, with certain Members of this Court when, in fact, they’re just FOOLS and 'LAPDOGS' for the RINOS and Radical Left Democrats and, not that this should have anything to do with it, very unpatriotic, and disloyal to the Constitution. It is my opinion that the Court has been swayed by Foreign Interests, and a Political Movement that is far smaller than people would think — But obnoxious, ignorant, and loud!"
I really hope whoever gets into power next somehow reverts De Minimis. I used to buy a lot from overseas, shit you can't even get here so it's not like I'd be detracting from American businesses.
ReplyDeleteAside from the fact your POTUS is a fash and is just going to ignore it, your prices are not going back down, our prices are not going down ('cos guess what, all our prices went up too. Thanks America!). Muh capitalism, etc. They'll keep the profit (those that weren't absorbing the profit which was surprisingly based, though they didn't have much of a choice what with America's cost of living being what it is). But np, those tiny containers of NYX and L'Oreal powders are not coming down in price now. Ain't happening. Did it all come down after the pandemic/shrinkflation? Nope. My milk makeup is still the same size as what used to be the travel size
ReplyDeleteAnd now we will see
ReplyDeleteAmerica isn't the land of the free
They made a king more powerful than we
Their court cannot stop a fascist tiny pee.
WOAH! The K-Beauty is now tariff freeeeeee! My press on's will be tariff freeeeeee! Can we throw a party now?!
ReplyDeleteNot so fast, there was a response of 10% tariffs just after the initial ruling. Back to waiting to order my EU sunscreens :(
Deletehttps://www.cnbc.com/2026/02/20/trump-global-trade-tariff-supreme-court.html
And it’s now 15% because that is the max import surcharge % that can be done through an executive order under Section 122 of the Trade Act of 1974 (which is allowed by presidential determination of “fundamental international payments problem”…) and it expires in 150 days unless Congress extends.
DeleteUpdate, Trump just imposed a 10% tariff in response to the ones struck down. Another round of tariff drama.
ReplyDeletehttps://imgur.com/a/PuVRgua
Can someone give the synopsis of where we stand with tariffs?
ReplyDeleteTrump just issued a 10% blanket tariff in response to the ones just struck down. De minimis is still no more so you will still need to pay customs and duties
Deletehttps://imgur.com/a/PuVRgua
FYI, update as of 7:26 PM est, de minimis is still gone so tariffs will still apply
ReplyDeletehttps://imgur.com/a/dCSJLtM
BOOOOOOOOO
DeleteSomeone’s got to help get this country back in the Drivers seat.
ReplyDeleteWhat does this mean for the end of the De Minimus exemption though? Is that reversed as well?
DeleteI have been waiting for this day! The problem is everybody everywhere is confused now. Who knows how long it will take before businesses adjust.
ReplyDeleteI live in a border town and will ask my border guards today and see if they have heard anything.
ReplyDeleteThe problem is, often their orders stay the same. I was buying tiles from Italy in September and four guards had no idea what the tarriffs would be until the minute I tried to pass through because it changed so often that they couldn't give me an estimated cost even the day before.
In the end, I brought in one box of tiles at a time because they wouldn't do paperwork for less than $50.
Trump has indicated that he’ll try and use other statutes or laws to keep the tariffs in place.
ReplyDeleteExpected - his administration has been explicit about this prior to this ruling. But will those attempts withstand legal scrutiny??
Deletehttps://www.cnbc.com/2025/09/02/cnbc-daily-open-trump-administration-has-backup-plans-for-tariffs.html
Nobody knows, but until then I wouldn’t expect that this ruling changes the way ups, FedEx, etc continue charging excessive tariffs.
DeleteI wonder what country we will have to invade next or which judges home will be burned down with them still in it as a punishment
ReplyDeleteI feel it's a tad late. Our economy is already fucked from him putting those up.
ReplyDeleteHe will simply ignore it and double down.
ReplyDeleteGood they struck it down. Bad that Trump's bitch ass drug us through the dirt placing them
ReplyDeleteIndeed. Imagine how terrifying it would be if all that stuff went through.
DeleteAll they did was not allow him to use the regulation he using for tarrifs. But told him how to do it legally so trump put a 15% tarrif on right away
ReplyDeleteTrump must be pissed he’s the one usually doing the major blows
ReplyDeleteHe's a very ugly man......his squinty eyelids are not attractive
ReplyDeleteShooters shoot. Alas…he shot and he missed
ReplyDeleteTrump can work around it. 😁
ReplyDeleteWill this SC ruling allow some new car buyers to get a refund or reduction on their purchase?
ReplyDeleteBout time SCOTUS came to their senses. Kavanaugh still an asshole however. It be too confusing to figure out the refunds-is his brilliant dissenting opinion. Don’t think it is confusing at all. Give it back to businesses first, then consumers. Figure it out a-holes.
ReplyDeleteAs if great leader cared about insignificant things like laws and court orders.
ReplyDeleteIf SCOTUS says they are illegal and this asshole just announces more, why isnt anyone stopping him? What is the point of court decisions if the moron in charge just ignores them? Can murderers or thieves just ignore their court orders too?
ReplyDeleteGood this freak show has to end.
ReplyDeleteNow let them enforce them. Pretty glaring loophole in the system
ReplyDeleteIt was fascinating, watching him throw a tantrum on live television.
ReplyDeleteTHIS is not the way ANYONE sane, would act…especially if they hold positions of power.
A republican administration grifting the public and fermenting economic instability while actively campaigning on being against institutions that grift the public and erode economic stability. It’s cyclical at this point.
ReplyDeleteTrump charged tariffs so he could gather money for himself. So now the companies can sue the government to get that money back but we can’t sue the companies to get our money back. And also the tariff money is gone because Trump the fucking thief in chief just stole it by moving it to his peace shit that he controls. Good job conservatives I’m glad we’re great guys.
ReplyDeleteNow we get to see what other laws this dip stick breaks next.
ReplyDeleteThis is so fucked. Its costing so much money to undo all this shit on a corporate level
ReplyDeleteSo us dumb consumers will be getting all our money back from these illegal tariffs right?? RIGHT?????
ReplyDeleteNot a major blow
ReplyDeleteBut the next one could be
I bet he will say tariffs are my idea… I get to keep the tariff money for myself.
ReplyDeleteHis reptilian brain decided to show itself on his face.
ReplyDeleteNow, who will be the person who starts the movement for the citizens to get their money back from this BS?
ReplyDelete(Excuse me if I misworded my question >_<)
Itsonly a defeat if the SCOTUS had any power. It does not. Nothing will come of this.
ReplyDeleteHow about that $10 billion (of our tax money) Donny took for his "Board of Peace" without Congress approval.
ReplyDeleteWith Republicans in power (House & Senate), Trump just does what he wants. I hope voters vote Blue come this midterm election and vote them out. And start the investigation of each member.
lol like he didn’t have a backup plan already !! Fk the SCUSA
ReplyDeleteTrump implementing more tariffs after the ruling today! Wtf is Congress doing
ReplyDeleteTrump is a dictator. He doesn’t give a S* about it.
ReplyDeleteThis was probably all according to plan.
ReplyDeleteGood. Now where the hell is the money we lost out on?! Those tariffs were supposed to bring prosperity to the American people, but NO, Trump lied again, like he always does.
ReplyDeleteHe needs to get kicked out of office ASAP.
In 3 years. If he doesn’t change the law
DeleteNope...... trump doesn't give a fuck about what SCOTUS decides. Not only did he keep all "his tariffs" but he added a 10% tariff globally............
ReplyDeletetrump doesn't give a fuck
This is the reality we now live in. No one will hold him accountable.......
ReplyDeleteNow Trump is trying to use a page out of the Netanyahu playbook.
We have a war going on so we can't have an election...
We see thru your lies.
Impeach, Depose, Charge, Convict and Imprison TRUMP!
Impeach VANCE, Bondi, Vought, Nome, Hegseth, Kennedy and fire Bovino, Miller and Hassett ...
He is already ignoring the court and keeping them in place
ReplyDeleteWhat is with the 10% global tariff he passed after? Is that better or worse than what we had before as far as costs go? I don’t understand these things at all
ReplyDeleteIn other news, someone I knew lost a bar game of darts.
ReplyDeleteWow, I really wished that person "didn't miss"
Costco's court case just got extra interesting.
ReplyDeleteThe big thing that’s not talked about is that there wasn’t trillions and trillions raised by tariffs. Expect that number to get ratcheted way down.
ReplyDeleteTariffs were the only good policy this administration has enacted. The US is a service economy, or was, and LLMs are going to wipe much of that out. The only reasonable solution was an end to globalism (stop making everything in China) and a reshoring of manufacturing jobs to America. The most effective policies to enact this are protectionist policies, specifically tariffs, though I would have preferred a global VAT tax, I take what I can get. If you live and work in America and actually want it to be something greater than a post industrial wasteland, then you are believe-it-or-not in favor of tariffs too. I know, its icky to agree with Chester Cheeto on anything, but a broken clock is right twice a day.
ReplyDeleteI fear that Trump's anger over the SC decision is performative. The Supreme Court is just trying to appear reasonable before they make a preposterous decision in Trump's favor.
ReplyDeleteI fear what they will rule on next.
Free Costco groceries for a week?
ReplyDeleteFuck that child rapist , he is a loser, he is terrified right now, he know he is done he will do whatever it takes to not go to prison, maga is a small group of people, do not believe the support he has they are all Russian assets commenting and upvoting for him, his is done and he knows it, we as Americans hold the power
ReplyDeleteIt’s funny bc stocks went up after
ReplyDeleteNo, they didn’t . And I’m really pissed off.
DeleteWell it was a major blow until he was like “Yeah but I don’t give a shit.”
ReplyDeleteIt’s good to see the Supreme Court being the greatest power of the land rather than heeling like dogs no matter who is its president.
ReplyDeleteThe President believes he is above all laws and rules of order
ReplyDeleteLock him up
Every single congressman should also be handcuffed and thrown in jail. This is completely wild.
DeleteDidn’t Trump just use a different law to impose 10% tariffs now?
ReplyDeleteHow long is this Trump tariff move going to take to get to the Supreme Court and for them to shoot this one down?
Trump is like The Flash. SCOTUS literally moves at a snails pace.
Then He turned around and gave them the middle finger and said EVERYONE is getting a 10% increase in tariffs across the board.
ReplyDeleteHe don’t care. Trump will do what he wants. There are are no repercussions if he disobeys the SC. What trump has shown are the glaring weaknesses in our institutions. There are no punishments for POTUS if he doesn’t obey them.
ReplyDeleteSCOTUS blowing the president once again. This time they used their teeth.
ReplyDeleteElect a rapist, expect to get fucked.
ReplyDeleteOops All “It’s Too Late, the Prices Have Already Gone Up”s
ReplyDeleteTrump is going to make us do what he did to those Trump Taj Mahal contractor… he’s going to make us sue him, it’s going to get litigated FOREVER and we’ll never see our money. The art of the deal.
ReplyDeleteA key difference here is that a lot of the people who are going to be suing him are multi-billion dollar companies and not regular working class people.
DeleteThe legal system doesn't tend to blow off the wealthy. They also have the money to keep fighting it out
Dems need to run on retiring that money to the people not corporations.
ReplyDeleteKeep going! The judicial branch is the only one doing shit now.
ReplyDeleteFinally, been some things I have been holding off on ordering because of the Trump tax.
ReplyDeleteThis comment has been removed by a blog administrator.
ReplyDeleteSerious question: with tariffs having been collected being something so consequential and possibly unconstitutional, why is the Supreme Court allowed to take so long to act? Why couldn’t they take this up literally right when it happened and come to a decision immediately to avoid months of money collected and all the damage or issues it’s caused?
ReplyDeleteThe tariff suits had to get their way through the federal court system up to the Supreme Court, which ate sometime, but the Supreme Court did sit on their ass over it for a very long time and I think there was political motivation for that. I think the Republicans on the Supreme Court were hoping that they wouldn't have to rule against Trump and that he would just stop the tariffs on his own.
DeleteWhere? I think there was a real screw up here was that the lower courts didn't issue an injunction against the tariffs pending the litigation.
They should never have been allowed to stand while we were waiting for this to work its way through all the courts. There should have been an injunction that should have been held all the way through.
Absolute worst president ever.
ReplyDeleteI’ve been told the SC is a rubber stamp for Trump.
ReplyDeleteWell, Trump has already gotten away with manipulating the market many times and making hundreds of millions from it. He'll surely find another way to make himself richer.
ReplyDeleteGood, next it’s congressional republicans turn to teach this asshat how the 3 branches of govt actually are supposed to work together.
ReplyDeleteWe are getting robbed right in front of our eyes. 10 billion for the board of peace? How the fuck do we stop it?
ReplyDeleteIf they were going to do it, why did it take them this long? Most of the damage has already been done.
ReplyDeleteYeah, except, he’s doing it anyway because no one has the balls to stop him.
ReplyDeleteI think every citizen should get 10 k Refund
ReplyDeleteTrump will never refund the tariffs paid unless SCOTUS orders it after the next time this goes to SCOTUS Never ! Trump has already skimmed off his share. MAGA Republicans continue to support him.
ReplyDeleteI hope the SCOTUS signed an NDA...it's standard procedure for anyone delivering major blows to trump
ReplyDeleteWhat is the Constitution after all? Yeesh. Hello, McFly!
ReplyDeleteThe only people that should get a refund are the American tax payers. If you voted for this piece of shit you should get nothing.
ReplyDeleteAnd he’s just ignoring that and making more.
ReplyDeleteKeep the blows coming.
ReplyDeleteEdit: Also, since we paid higher prices are we the people going to see any refund? I highly doubt it. Greatly doubt it even.
Maybe the point of it all was to allow companies to jack up prices and keep it that way, because they had to know tariffs would be stricken.
ReplyDeleteIn a surprise turn of events absolutely nothing will come of this
ReplyDeleteThis was the plan all along. Trump knew his tariffs wouldn’t last. His grift was to scheme with big corporations so they could line their pockets and, in turn, they would line his coffers.
ReplyDeleteIt really is unfortunate that the majority of the American population is stupid. And by majority, I’m talking about the people who voted for this guy and those who chose not to vote because they didn’t like either candidate. To those, I say fuck you and your stupidity.
He doesn’t care and is ignoring it lol. It SHOULD be a major blow. But it won’t be until someone actually stops him.
ReplyDeleteYet people think this man is a business genius. When will they wake up?
ReplyDeletet RuMp to SCOTUS: 'BLOW ME' .. Puts tariffs on scotus .. Pissed off he attacks Iran ..
ReplyDelete/s
This is intentional so that he can claim his shit hole economy is because the court told him no. The court doesnt act without his blessing
ReplyDeleteYay 😁
ReplyDeleteTrump just an hour ago : all Tariffs remain and plus 10 per dnt world wide
He doesn't care it's insane
I thought he’d already used them
ReplyDeleteHe already said he's doing whatever the fuck he wants so everything was just a performative waste of time and fucks.
ReplyDeleteSo companies profit margins grow instead? Because you know they aren’t lowering prices on anything if people will already pay it.
ReplyDeleteAnd now prices won’t go down and their profit margins will grow
ReplyDelete"Major blow" False... ? He just uses some other law to put tariffs on again. No idea if that one can be challenged in court or not, but if it can, SCOTUS will take another year or so to get aroud to ruling on it. Then he has another law that lets him do it, too.
ReplyDeleteTrump is taxing the shit out of Americans and spending it on more military spending + ICE + Israel. But healthcare systems and support systems which aren't a circus is out of the question, lmfao.
Either testicles descended or SCOTUS orchestrated grift of the NYSE.
ReplyDeleteEat shit you Big Bloated Bitch
ReplyDeleteSpeaking of a disgrace to our country does he not use a mirror when he puts on his orange face paint ?
ReplyDeleteIt is almost like the goal of this fiasco was run small companies out of business to consolidate the market and monopolize.
ReplyDeleteI say that sarcastically, but this is literally what has happened.
Fuck America. This country is a fucking disgrace to everything it supposedly represents.
In a surprise turn of events absolutely nothing will come of this.
ReplyDeleteGreat! Now let's give the Americans their fucking money back.
ReplyDeleteWell there's still three years of this and the world's moving on.
ReplyDeleteThis ruling really changes nothing. The US system is the problem. It’s clear as day that the President has too much power and money rules this system.
ReplyDeleteso US trade policy now goes back to the billionaires and lobbyists in congress?
ReplyDeleteAs opposed to the wealthy individual in office ham fisting money into his own coffers? Yes. The next step is kick all the lobbyist and millionaires out of congress.
DeleteImpeach, Prosecute, indict, convict and IMPRISON
ReplyDeleteThe more I read and interpret the courts decision, the more I am of the opinion that this is really it for Trump in terms of momentum and policy. He’s a lame duck now, and the fallout from this failed forced tariff will muddy all future decisions should there be refunds (which we all know will be happening, I expect suits to be filed by end of day against the government for damages). This is a real crisis for the GOP at the moment, how do they untangle this web they’ve made? The effects are now tangible and real
ReplyDeleteBetcha he had a blowout to go with that crashout.
ReplyDeleteBasically, corporations charged you more to cover the tarrifs. Now they get to receive a refund for the extra YOU paid. And you get nothing. Another day in republican america.
ReplyDeleteWell, this isn't what I was expecting. SCOTUS actually did something right for once.
ReplyDeleteBasicly making American customers pay the Tarifs twice. Who do you believe will geht the refund? 🙂🙃🙂
ReplyDeleteI just hope they take the profit these companies made off the population in hand before giving back any refunds though. Other wise, its double dipping.
ReplyDeleteJust get him out, he’s totally destroying your country and some people cannot even see it.
ReplyDeleteThe biggest countries should get together and form a trade group. Then they should say only countries in our group are allowed to trade with us. And by joining the group, you need to agree to certain tariff-related policies and we will enforce trade agreements. If you sign a 3-year trade deal, it remains in effect for 3 years unless both sides agree to change it.
ReplyDeleteCompanies still won’t drop prices unless people stop buying. They have no reason to.
ReplyDeleteYeah, but will Trump just ignore the Supreme Court?
ReplyDeleteSpoiler alert: He just did
DeletePlease dear god let this be the moment that trump finally gets impeached. There can be no excuse or support for going against the Supreme Court and charging MORE tarrffs in defiance. He thinks he is on a reality show I guess.
ReplyDeleteComment removed by moderator
DeleteYou are yelling out loud that you don't understand how any of this works.
DeleteThis is not the way to go about positive change. Once you learn that we are living in a global economy. You’ll realize this is the exact opposite way to go about it.
DeleteReal conservatives know that tariffs are bad economic policy.
4 more years of tariffs and we probably don't have to pay to pay any income tax., wouldn't that be nice.
DeleteThis was no blow - it was the plan all along. Insiders made money on insider info. Corporations passed the cost on to us. Smaller businesses and competition not of decent size cratered. Now corporations can sue and be guaranteed a win to recoup the costs we paid for while keeping the consumer prices high long-term. Trump gets to say the current financial state is because his tariffs were cancelled and not because of them in the first place.
ReplyDeletePresident Donald Trump on Friday denounced Supreme Court justices who ruled against him as a "disgrace" and announced wide-ranging new tariffs hours after the high court struck down most of his existing import taxes. In a 6-3 decision, the justices had ruled the president did not have the authority under a 1977 emergency economic powers law to impose import levies on goods from nearly all of the nation's trading partners. **In response, Trump used a different law to impose a 10 percent across-the-board tariff. **
ReplyDeleteIn today’s episode of “We Told Y’all…”
ReplyDeleteEvery news I read from USA be like: "President tried/did something illegal unconstitutional, Supreme Court says 'NO' " then y'all go to sleep and do the same next week
ReplyDeleteI gotta be honest. I didn’t see this coming.
ReplyDeleteTrump doesn't care about tariffs, only the stock market impact they have when he announces them
ReplyDeleteThe Supreme Court of the United States striking down most of Donald Trump's tariffs underscores the judiciary's role in checking executive power.
ReplyDeleteAs of early 2026, Trump's tariffs significantly boosted federal revenue, with customs duties hitting roughly $195 billion to over $200 billion in FY 2025 alone. These tariffs, covering goods from China, Mexico, Canada, and the EU, roughly tripled from 2024 levels, contributing to an estimated $30 billion per month in duties by late 2025.
ReplyDeleteWe could just tax the rich, but no, we have to just further tax the lower and middle classes.
DeleteThe Rich Pay More in Total: In absolute dollars and as a percentage of income, the top 1% pay significantly more than the average American.
DeleteThe federal government relies heavily on high-income earners; the top 5% of earners collectively paid over $1.3 trillion in income taxes in 2022, or about 61% of the national total.
Top 1% Share: In 2024, the richest 1% of Americans (those with income over $771,100) are estimated to pay 23.9% of all federal, state, and local taxes, while earning about 20.1% of all income.
Meanwhile, nobody is forcing anyone to pay a tariff and prices for everything went to 40 year record highs under Biden when there were no Trump tariffs.
"Meanwhile, nobody is forcing anyone to pay a tariff and prices for everything went to 40 year record highs under Biden when there were no Trump tariffs."
DeleteYou mean when we were still under the effects of the largest shock to global logistics ever? Wow who knew!
Some bottom percentage of American earners don't pay any income taxes, which means that slack is getting picked up by the middle, who, crucially, does not benefit from those taxes nearly as much per dollar earned as the rich do.
You can't just fucking omit crucial information like "hey, a huge portion of earners effectively don't make enough to even pay taxes" and then call 1:1 enough, even without that. You can't just fucking omit that *this does not account for the low taxes on the main way that the wealthy make money". Anything to suck that good ol' rich dick, huh?
Fucking parrot.
Liberation day! Not only are these illegal tariffs going away, but my neighborhood is significantly calmer and less maga after several neighbors got their businesses wrecked by the ol' pedo and had to move to lower their property tax burden XD
DeleteTarrifs are taxes and only Congress has the authority to raise taxes. I'm surprised (sarcastically) that it took the US Supreme Court an entire year to make that clear even though that was already explicitly laid out in Article 1 of the US Constitution.
ReplyDeleteAsked directly if he planned to work with Congress to impose the kinds of sweeping tariffs he prefers, Trump said he had no intention of doing so. “I don’t have to,” he said. “I have the right to do tariffs.”
ReplyDeletehttps://www.nytimes.com/live/2026/02/20/us/trump-tariffs-supreme-court/c052208e-358c-5011-96e7-2627404d0ff8?smid=url-share
Trump will ignore this and do what he wants because Congress will not stop him. Any official who does not work with his tariffs will be fired. And doxed.
ReplyDeleteHe just did
DeleteAs usual
DeleteMeanwhile, Lutnick was banking on this decision:
ReplyDeleteCantor Fitzgerald, a financial services company led by the sons of US commerce secretary Howard Lutnick, is creating a way for investors to bet that President Donald Trump’s signature tariffs will be struck down in court. Traders at the firm’s investment banking subsidiary, Cantor Fitzgerald & Co., say they have the capacity to buy the rights to hundreds of millions of dollars in potential refunds from companies who have paid Trump’s tariffs, according to documents viewed by WIRED.
He is just going to ignore them again. He has not cared so far so why would he.
ReplyDeleteWatching his press conference, I’m thinking that we could turn this into a drinking game. Every time he says “Kavanaugh” take a drink.
ReplyDeleteThese companies that get refunds will very likely not refund anything to their customers. Watch CNBC. Theysee this as their infusion of cash and will reward their customers by not increasing prices on them anymore. Again, the economic system of this country has taken from the working class and giving to the rich class. these firms will infuse themselves , reward their execs with bonuses and distribute these tariffs refunds to the shareholders.
ReplyDeleteMeanwhile the criminal in the WH still doesn't understand the difference between power and authority. He thinks that because there is a law that lets a president do something, he can just do it whenever he wants. Our legal history is abased on substance over form.
Many months and billions of dollars too late; the rich already got richer and the poor already got poorer.
ReplyDeleteSounds like Trump missed a payment
ReplyDeleteGive Trump credit. He just transferred $120 billion dollars from ordinary Americans like us to corporations. Because when the tariffs get returned to the companies who paid them they’re going back to the corporations. Mostly.
ReplyDeleteDude literally just said the tariffs were staying. He is flagrantly denying the supreme court.
ReplyDeleteIt was an un-costed regressive tax with no real basis in reality. I pity the fool who has to try and pick up the pieces of a bunch of policies that can only be called Cranky Uncle economics. You know that loudmouth racist hypocritical Uncle who knows everything about anything and ruins Christmas every year , where the rest of the gathering just waits for Uncle weirdo to shut up and leave so they get on with normality.
ReplyDeletehttps://www.youtube.com/shorts/MpAFYvFdRPI
This uncle is why we have the cousin walk, and why i buy a bottle of his favorite whiskey to keep his glass full so he’ll pass out.
DeleteThe cope over on the conservative sub is delicious.
ReplyDeleteThere's a mist of "most" hanging in there
ReplyDeleteAfter the ruling Trump expressed his sadface, saying that was he:
ReplyDeletewas just trying be a good boy.
Before cheerfully adding:
It's okay. I can destroy those countries. I can do anything I want.
This might should be a benefit to Trump
ReplyDeleteTrump has like six more legal ways of pushing tariffs. This is like an arrow being shot at a tank
ReplyDeleteHe'll just pass new tariffs through congress or some other arcane law, I reckon
ReplyDeleteThis drooling fuckwit is currently making a fool of himself on global TV. It's mind boggling how dumb this guy is.
ReplyDeleteWhen Democrats take power, and in a sane world, they should run on a one-time tax on corporations equal to that tariff income, plus interest, and then use that tax revenue for checks for everyone a la COVID checks, as a way to, at least at the collective level, transfer the illegal tariffed revenue from companies that benefited back to consumers. There's really no other easy, simple way to do something to approximate an exact refund.
ReplyDeleteTrump is having a news conference right now (1:25 PM EST). Can anyone understand anything he's saying? How did tariffs end 8 wars? What 8 wars?
ReplyDeleteHe's rambling. Can we get Sleepy Joe back?
Great, so Trump defied the law, raising prices and the companies will get a refund to cover those tariffs but we won’t get our money back AND they have no incentive to restore pre-tariff prices. So much winning!
ReplyDeleteDon't worry, there will be at least three more illegal but self-enriching schemes tried before we just tax billionaires.
ReplyDeleteMy prediction: Trump will probably try to find other means to issue Tariffs but if and when his tariffs are eventually defeated...it will probably improve the economy and pricing moderately and he will take credit for that too.
ReplyDeleteTo think the Supreme Court could have done that when the Executive Order was announced....
ReplyDeleteAlito, Brent, Thomas.
ReplyDeleteWho would have thought.
Now calling SCOTUS a disgrace to "us". Wow. is that slander?
Justices John Roberts, Neil Gorsuch and Amy Coney Barrett are right leaning and have the right to be, but in clear cut cases like this will generally pass judgement correctly according to the rule of law .
ReplyDeleteThe fact that Justices Clarence Thomas, Brett Kavanaugh and Samuel Alito will always look the other way, abstain or rule in favor of MAGA instead of acting by the rule of law says these three corrupt judges need to be removed or be subject to review for fitness to remain on the Supreme Court.
Good to see at least a little bit of the checks and balances still remain. Good to see an institution at least trying to rein him in. Obviously, congress just does anything he wants.
ReplyDeleteBut Trump promised everyone two thousand dollar tariff bonus checks. I'm sure they were going to be mailed in two weeks. With the DOGE checks of course. 😂
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ReplyDeleteThis is why executive orders need reform. We should really consider restricting the powers on the executive branch, snd I suggest the following for EO's 1) set a 30 to 45 day review by legislative and judicial branches prior to going into effect to allow for legal and constitutional review; 2) after such time, it goes into effect for 3 to 6 months, enough tine to get congress to pass legislation to set the EO into law or somethi g else to replace it legally. 3) set a limit to how many active EO's are on the books so that step 1 and 2 can work.
EO's should be used to get the legislative branch going through a deadlock, not bypassing the normal means of making laws in this country.
Tariffs should not have been an EO, it should have been pushed through congress to ensure it's legal and constitutional. Now we, the tax payer, will see our money spent at the retailer covering the tareif go from the US treasury to the corporations, instead on back into our pockets.
…it’s been his first major blow since that party on Epstein Island.
ReplyDeleteDistraction from 1) Epstein 2) Iran since the alien one didn’t work.
ReplyDeleteAlso Ice still out there brutalizing and murdering.
The entire public of the US should start a class action lawsuit to obtain a refund from every business they bought from since the tariffs started. The companies increased prices and the public was forced to pay them. Why do the companies get a refund? Why is the public's refund?
ReplyDeleteA major blow to the great president trump? Probably what he was after the whole time anyway; he always wins. /s
ReplyDeleteBring back the de minimus threshold.
ReplyDeleteSo are individuals allow to sue for the extra they paid for import tariffs?
ReplyDeleteAre companies showed to sue for loss of sales due to the import tariffs?
Tough luck - so what about them Epstein files?
ReplyDeleteSo prices are going to drop now, right?
ReplyDeleteMajor blows have cost him $130,000 in the past
ReplyDeleteThat's fine. He'll just get rid of the supreme court. No big deal
ReplyDeleteThis entire exercise will just end up being a year+ of market chaos and a 210 billion transfer of funds from American consumers to importing companies. Those importers are going to justly get a refund on their taxes. Then they will pocket the money they charged us to pay for them.
ReplyDeleteAll the counter tariff’s set by China will fuck us up I guess
ReplyDeleteThis isnt a win. The supreme court strategically decided this now in benefit of the president. Most are in his pockets and havent done shit else to stop him.
ReplyDeleteCan the punishment for this be served up in a place that still supports capital punishment?
ReplyDeleteCompanies will seek refunds. Where do we go to get ours?
ReplyDeletePeople who vote republican suck.
ReplyDeleteProbably part of the plan tbh.
ReplyDeleteNot only will the corporations gets refunded, they certainly will not lower the prices of goods to pre-tarrif levels, thats just gonna continue to be the price of goods so these cock suckers make even MORE profit.
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