GOP Megadonor Rages at Trumpā€™s ā€˜Bulls**tā€™ Tariffs
www.thedailybeast.com
ā€œI donā€™t understand the god---n formula,ā€ billionaire Home Depot co-founder Ken Langone said.

cross-posted from: https://lemmy.world/post/27935573

Summary

Home Depot co-founder and GOP megadonor Ken Langone blasted Trumpā€™s sweeping tariffs as ā€œbullsā€“t,ā€ calling the 10% across-the-board rate and country-specific hikesā€”like 34% on China and 46% on Vietnamā€”ā€œtoo aggressiveā€ and poorly calculated.

Langone criticized the administrationā€™s formula, based on trade deficits, as nonsensical.

Other prominent figures, including economists and billionaires like Stanley Druckenmiller, Bill Ackman, and Elon Musk, have also spoken out.

Critics warn the tariffs hinder negotiation and lack sound economic grounding. Langone said Trump is being ā€œpoorly advisedā€ on trade policy.

  • Sirus@lemm.eeEnglish
    41Ā·
    4 days ago

    Man, I stopped contributions to my 401k at the end of last year. Best decision I ever made, i would have lost that money the second it hit my acct.

    • Empricorn@feddit.nlEnglish
      6Ā·
      3 days ago

      Thatā€™s not how that works, you should still contribute, especially if your employer kicks in some free money with matching. You only technically lose money if you withdraw it. But maybe consider a bond-heavy investment fund mix while Cheeto Mussolini is in power doing his trade war. Contributing also lowers your taxable income. This is general conventional wisdom, you should ask a fiduciary or other expert for your specific situation.