Barry Diller, a prominent billionaire and IAC chairman, expressed support for President Trump's tariffs during a podcast, although he predicted it might ultimately lead to economic troubles. He considers the tariffs a significant gamble, potentially beneficial for reviving manufacturing and tax relief. However, he cautioned against a negative mindset. Meanwhile, Yale's Budget Lab reported that the revenue from these tariffs is unlikely to compensate for the proposed GOP tax cuts, which may cost the country significantly, raising concerns about the national debt in the future.
Barry Diller believes President Trump's tariffs should be given a chance despite foreseeing potential negative outcomes, viewing it as a significant gamble for manufacturing.
Diller emphasizes a more positive perspective towards the tariffs, urging the avoidance of a 'violent negative spirit' during the implementation phase.
The Budget Lab at Yale cautions that projected tariff revenue will not sufficiently cover the GOP's substantial tax cuts, warning of long-term economic implications.
According to the Budget Lab, if tax provisions become permanent, the U.S. could face a concerning debt-to-GDP ratio surpassing 180% after 30 years.
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