10% on EVERYTHING? Trump's Latest Tariff Bombshell
The White House has become America's most dramatic reality show, with policy changes dropping faster than a new Netflix series. Trump's latest plot twist? A fresh wave of tariffs that are sending shockwaves from Wall Street to Shanghai. Just when the global markets thought they had the script figured out, this new economic bombshell is rewriting international trade rules and leaving world leaders scrambling to respond.
For those keeping score at home (and let's face it, we all should be), these aren't just numbers on a spreadsheet—they're moves in a high-stakes game that's reshaping everything from your morning coffee prices to the future of international commerce.
When "Made in America" Meets Reality
Jolene's got a fascinating perspective that cuts through the noise. While multinational corporations play global hopscotch with their supply chains, she's been championing the home team all along:
When COVID hit and everyone was struggling over their international supply chains, Jolene’s business Dible Dough was unaffected, because her company used only American suppliers. With these new Trump tariffs, Dible Dough is still unaffected as American suppliers are still at the heart of the business.
On the whole, the focus should be on American businesses supporting other American businesses. That’s what these tariffs are supposed to encourage. Although it is a nice idea, there is nuance to the issue and costs that make this almost impossible on a large scale. There are significant hoops that need to be jumped to have American businesses even be able to source what they need solely from US suppliers.
The Chess Game Nobody Asked For
These tariffs are starting to look more like political Jenga than economic strategy. When Trump plays tariff tag with global superpowers, it's not just American wallets feeling the pinch—it's creating ripple effects across entire international markets.
Here's the trillion-dollar question: Are we really fixing global trade imbalances, or are we just shuffling deck chairs on the economic Titanic while deeper issues—like sustainable international commerce—remain unaddressed?
Global Trade: It's Complicated
Think of international trade like a massive game of Monopoly where everyone's playing by slightly different rules. Jolene nailed it when she pointed out how these tariffs are supposedly teaching China a lesson about fair play. But in this interconnected world, can any country really afford to go it alone?
Sure, Trump's "art of the deal" might make headlines, but let's get real—are these aggressive trade tactics actually strengthening global economic stability, or are they pushing us closer to a worldwide recession.
Here's the thing about global tariffs—they're like throwing a stone into a pond. The ripples affect everything: international relations, supply chains, consumer prices, and yes, even your local businesses. Some adapt and thrive, others struggle to stay afloat in these choppy economic waters.
We could debate international trade policy until the cows come home (wherever those cows might be manufactured these days), but now we want to hear from you. How are these global economic shifts affecting your corner of the world? Are you seeing prices climb? Has your business had to pivot its international strategy?
Whether you're watching from Wall Street or Main Street, your perspective matters in this global economic story. Stay informed, keep asking questions, and remember—in today's interconnected world, every economic decision has worldwide consequences.
RESOURCES MENTIONED:
Tax Foundation: https://taxfoundation.org/
USA Facts: https://usafacts.org/
LINKS:
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Nicole: [00:00:00] y'all, we gotta talk about these tariffs and they've changed every five seconds. We've both been, uh, doing our due diligence and trying to keep up and it's pretty impossible. Um, but I am very curious, maybe Jolene, it would be interesting for you to start, like, let's take this personally.
' and you as a small business owner, I mean, there's so much to talk about. Well, why don't we start there with what are your feelings, uh, about these tariffs, how they began, the rollercoaster of them.
I'll just let you
Jolene: So it's funny you should say roller rollercoaster because that is true, right? We wanted to talk about this. Like probably a month ago, and then we went, oh, it's not really a big deal anymore. And then like, oh, you know, it's a big deal. Let's talk. And then I, I, I mean, we've gone back
Nicole: every two seconds something major happens. The stock market's going bananas. Um, I think about, I have a [00:01:00] dear friend this is like, I don't even know what's going on in San Francisco, and she has this beautiful wine shop and it's got all kinds of wines from all over the world, and they just, he just wanted to put this 200% tariff on wines and champagne.
And I'm thinking they were hit with covid for a totally different reason,
Jolene: your very good family friend has wineries, are they? I I would think that this would benefit a winery in, in Napa,
Nicole: possibly, but I'm thinking of my friend that has,
Jolene: Imports
Nicole: imports wines from all over. I mean, she has beautiful California wines too, but, but the whole idea, and she has an online business is like to curate this, it's a very niche thing, but certain people are very much into wine and from all over the world.
And then what do you do like as a small business owner with all of, what have you been thinking about?
Jolene: So we [00:02:00] made a conscientious decision when I first started the company eight years ago. pre covid, to source all of our packaging and all of our ingredients, from the US and that was just because I believed it was important to support other US based companies.
And, and so then fast forward to Covid and, a lot of people in the CPG and the consumer packaged good industry, get their packaging from China because it's cheap. And so packaging for us means the film that you would wrap the bar in, um, so the wrapper, the merchandiser that you would put the, the bars in and display 'em, you know, at the store level.
and then the case packaging. Then you would put those merchandisers in, in a corrugated box to then ship to the, to the stores. So we have three levels of packaging that we have to source. fortunately we've sourced them from a Texas company, it, [00:03:00] Wisconsin Company, an Illinois company.
and had we sourced it from China, which would've saved us money, no question, it is always cheaper. we would've really run into problems during covid because obviously, all the, the ships and, and all of that. But also then, then we had the port issue of bringing things into ports and all the ports that were shut down during a time.
And so all of those factors, when I would have retailers ask me, how is this going to affect you? We'd go, not gonna affect us. We're all good. and was just one less thing to worry about. So, um, for me then I take a look at my competitors who maybe do source their products from, from China, and maybe they can beat me on price because their packaging, I mean, could be 10 to 15 to even 20% less.
For their cost of goods, then what mine are, this is really gonna affect them now. in fact, [00:04:00] I just had a meeting this last week with one of our retailers who said, will the tariffs affect you? And I said, fortunately, no, we're, we're all US based. And she said, good, because we're having to go through, like, as from a company standpoint, she was so upset that she's gonna have to go through all of her suppliers and say, okay, who's affected by this?
do we have to raise our prices? Are you gonna raise your prices? Does this affect our margins? Does it affect, you know, your margins? I mean, it's, it's, it's an upheaval. She was very upset. and I can understand why. I mean, this is a huge thing. And she was also upset because she said. It, you know, I never know is it, is it a 15% increase that these suppliers are gonna take?
Or then it was, Nope. Okay, now it's not gonna be anything. Then the next week it was, no, it's 20. And she was so mad that she's like, just tell us what it is and leave it so we, we can do our jobs. So that's how, that's how it affects us.
Nicole: I can't even imagine the emotional rollercoaster that, that anyone is going [00:05:00] through right now. Whether you have your, a very strict budget and your household and your, you know, you buy this particular toilet paper, I don't know.
And just the prices go up. Are they gonna go up? They're gonna go down, you know, versus, and, and people that have money in the stock market. Um, I do. I'm not looking, it's too, like, it's too terrifying. I'm just like, okay, this is banana cuckoo nuts. I mean, and the stock market has always been emotional. Yes, there's theory behind it, but it's emotional. And right now it's just like, you know, back and forth. Do you think your politics influenced that decision? That's my first question. And my second question, was it tempting to go down the other road because it's cheaper and you're a new business and, yeah.
Jolene: I don't think it was politics. I think it's just, supporting America and I, so I don't, that's a great question. I don't think that it's
Nicole: because I've, I, I would support American too. I mean it, [00:06:00] that's the thing, but it is a brave choice for you, Jolene, to be a brand new business owner.
Jolene: Mm-hmm.
Nicole: what? I might not make as much money, but I wanna go this way. And who knew that it was a brilliant choice on your part because
Jolene: Totally accidental. I mean, I don't know that it was, I, I would like to say it was brilliant. Eh? It was completely accidental. Well, e except that I wanted it to be American, but, but only because I believe an American made, I, you know, I think let's support our neighbors. but not in a political way. I think just, you know, but it's also interesting because I think now it, it, it does encourage people to buy American, right?
I mean, if it, like going back to the wine scenario, if you've got a nice cab from Napa or a nice cab from France. but wine is one of those things that if you can afford to buy wine, are you really? I mean,
Nicole: 200% tariffs is, that's big.
Jolene: [00:07:00] it is. But again, if, if you living paycheck to paycheck, I don't think you're
Nicole: Of course. I mean, it was, I was, it was just a story of like,
Jolene: but, but it does affect that small business owner, right?
I mean, absolutely. I mean, I, that for her, I'm sure is significant because, um, but again, maybe her customers now are gonna discover wines that maybe they wouldn't have, you know, I mean, that are Napa or Sonoma or wherever. so I do think the intent of tariffs is to promote American companies and American businesses.
Nicole: do you think it's going well
Jolene: so from a business perspective, I'm fine with it because it doesn't affect me.
Nicole: I,
guess from, from like a worldly perspective, from the interaction between Mexico, from the interaction between Canada, from what we're, how we're being presented on the world stage. I'm very curious about what you think.
Jolene: I think there's [00:08:00] two answers to this. Number one, I think, and we've talked about this before, that is Trump doing it because it's, It's part of his game of negotiations. It's the art of the deal. it's what bargaining power do we have now so far? We are in such a, trade deficit with most of the countries that we trade with that it was stupid because we don't have any bargaining power.
Like we pay a lot more you know, to export a product than we do to import products from other countries. And so that deficit of of trade, we have no bargaining power because we're paying so much more than, than what we're charging. So I think if you look at it from that perspective, yep.
It, it's, man, if you look at it from, you know, steel and aluminum and electric vehicles and, you know, the things that really are going to impact and I think are really impacting the stock market, it is topsy-turvy. And I [00:09:00] think if we thought it was gonna be easy, then um, it would've been done already.
and I look at Biden, Biden took on some of the tariffs, even this last May Biden, started, um, additional tariffs on, on a lot of items from China. And, and, and nobody, you know, I didn't hear that being talked about in the mainstream media as, as being a negative thing. Did you, did you know that Biden had had implemented additional tariffs?
Nicole: I did not.
Jolene: So I think I, and I don't think I did either until I started researching this
Nicole: Yeah. Yeah,
Jolene: And so, because I don't think it was talked about and now suddenly that it is being talked about, it's making Trump seem like the bad guy now. Is it having an, an effect on our economy? Absolutely is. And there are some that say and, and respected conservative, financial [00:10:00] gurus are saying If he would've done tax cuts first and then introduced the tariffs, the increase in tariffs, it would've made more sense. But I think he was backed into implementing these tariffs right away with Mexico and Canada in an effort to, to help with the border. And so I think all of a sudden he had to do this because his bar, his bargaining chip, his, um, you know, the thing that gave him some more power was, was implementing these tariffs on Canada and Mexico and said, here's what we're gonna do, and if you don't, give me additional security at the borders, then um, we're gonna implement these, these tariffs.
Well they did. They both did, both the Canadian Prime Minister and Mexican president then said, no, no, no, no, we'll do it. And he was able to back 'em off. So again, is it a bargaining tip? Probably. Gimme your thoughts.
Nicole: You know, a couple weeks ago when we were talking about this, the [00:11:00] Daley had done a podcast episode about, the tariffs in Mexico, um, and how this woman was an investigative reporter and talking about the fentanyl crisis in Mexico and how it had been rampant. And it was just known that there were cookers that she like, was able to get in with this particular cooker and went into the lab and she was surprised.
It was just like a regular kitchen and there was just, you know, just constant cooking and getting ready to, to move it. And so, and this was mid-December, and then I. She went back. So, and I wanna say this must have been three weeks ago. Uh, and at the time, tariffs were just being implemented or being threatened,
they went to the same contacts and there was no cooking.
This is in [00:12:00] Sinaloa. Uh, none. Everybody was afraid. there was no production. and she pointed out that two things had happened. One, Trump was in power and threatening and everyone was afraid. And two, Claudia Scheinbaum had just also been elected in October, and she wasn't afraid to go after the cartel. So that there were two things happening. the biggest question. For her was that yes, are the tariffs a motivating tool? And that they were, at the time had already handed over 29 drug lords to the United States. Like it was really effective.
but then they were, he was still threatening tariffs. And so the Mexican government, which other comforts all over the world are the, the Mexican government was like, what do you need us to do? We're doing what you need us to do and you're still threatening us. And so there were a couple questions that she had.
One was, if they make the deal, [00:13:00] will the crackdown stop?
or on, on the drugs? Like they make a deal and then somehow, you know, people aren't as afraid. You're gonna get little cookers here and cookers there and it starts. And the thing that was the main, a main question, which, um. I think is something we can also talk about, Joe, is that ' cause Trump likes to use the border as a reason for the tariffs in terms of national security and immigrants and all of that.
In terms of the Fentanyl crisis, um, the reason it's rampant is because Americans are addicted. There is a demand here that we're not dealing with.
Jolene: Yep.
Nicole: You can stop the drugs from coming in, but there's, people are still gonna find drugs. We're not dealing with the root cause, which is, there are a lot of people that are sick and addicted in this country it feels like it is presented as if we close the borders, it's [00:14:00] over.
No. 'cause addiction is real
Jolene: But you do feel like it at least cuts off the supply. I mean, to
Nicole: I, I, I think, I think in Mexico, Canada's a whole other story. He kept using Canada as in terms of fentanyl, and I think that the percentage was maybe 3% tops,
Jolene: tiny.
Nicole: tiny. you know, and, and interestingly in another episode that we did, you had just been to a trade show and this ties into the tariffs and that you had said, I met these Canadians and they're so pro-Trump, um, and everybody isn't Canada.
And I'm like, really? And I knew at that time, like Justin Trudeau was like, they were, he, he had resigned. Everybody hated him. And then they put these tariffs on Canada and this liberal prime minister gets in and everybody's mad at America. And I'm, I'm curious, like, have you spoken to those people again? I
Jolene: I have not, but it's
Nicole: really curious that you, if [00:15:00] you did.
I.
Jolene: I know because his whole point, just a review, was that Canada is totally pro-Trump. They love that. He thinks that globally everybody is becoming more conservative. He said, watch the German elections in Canada. You know, it's a lot of small businesses, blah, blah, blah.
And I just read an article this last week that, um, talked about how, um, you know, Canada was this, you know, pro conservative in a month that they've completely turned and gone. Uh, nope.
Nicole: Nope. Yep. I mean, I think they do, they do have, I think they have an election in the fall, is that correct? Yeah.
Jolene: They do it. He tried to explain it to me and I, I apologize, but they don't, I mean, nobody does it like we do, but, um,
Nicole: But I think they, they will be coming up, I think it's pretty soon. and so, you know, who knows, who knows how it'll, it'll change back. But it certainly gave a boost to the liberal party and, and to be. Fair. I don't really [00:16:00] understand Canadian politics. I don't know if you do. I don't think the liberals there are the same as the liberals here and vice versa.
Conservatives. I don't, I dunno.
but I think, you know, in some ways I understand the, impulse to negotiate the thing that was hard.
'cause Jolene, he did a trade agreement with them in 2020 and then went back and said it was a horrible, horrible deal. And it's like, well, but you made it.
And so kind of like, I know this is like a, a long shot, but like how you said to me on one of the first episodes, like if Kamala had just, or if the Biden administration had taken responsibility, had said, this is where we are and, and that you felt lied to. And the
Jolene: Oh, on immigration.
Nicole: it was in regards to Kamala taking over the presidency. Like you didn't feel that there was, full disclosure of like, Hey, know. I'm not, well, [00:17:00] I'm not gonna put words, words in your mouth, but there, but it was like, like the, the Democrats, uh, were hiding behind a narrative that you didn't feel was
Jolene: People were running the show behind Biden's back that he didn't, that he wasn't running it.
Nicole: So, and I know it's a strange correlation, but that's how my brain works. But I'm thinking about Trump and in 2020, if he had said, you know what? I thought that was a pretty good deal, but we can do better. But for me to go, for him to say that, that sucked. And I'm thinking, dude, you wrote it right?
Jolene: Yes. But I think he's come back now again and said, all right, we're gonna honor that. And,
Nicole: but it's that flip floopy,
Jolene: I know, I know, I know.
Nicole: He's a flip-Flopper not that. Listen, I think a lot of politicians are, they'd say something and then go, Ooh, maybe I
Jolene: I think what happens with him is he, so. [00:18:00] He's so open and willing to answer questions. And, you know, they have the, the Press Corps is, he's signing something, and so they're in the Oval Office and he'll take questions and I'll answer 'em. And I, and I think he's so open to just talking off the cuff that sometimes he says things and then people are like, uh, you're probably gonna have to walk that back a little bit.
I mean, Biden, same thing happened to Biden. Biden, you know, would say things and then people would be like, that's not really what you meant, right?
Nicole: I mean, I think it's been interesting in terms of the tariffs, like I found it fascinating the way, uh, Claudia Scheinbaum has approached this and, and other countries have, have, have not reacted. That's been actually in their favor versus other countries, go up in arms as, as one would from whether fear or anger.
[00:19:00] And that doesn't seem to go in their favor. Like it's, it's, it's like two, two bullies on a playground is what it feels like to me. Where, you know, I'm like, Ooh, she really, she's a smart person that Claudia Scheinbaum, she's thoughtful, she's trying to understand what he wants, and also sticking up for herself or sticking up for her country, which I
Jolene: Hmm.
Nicole: is an interesting concept.
And that like when Justin Trudeau, he was pissed
Jolene: Yeah.
Nicole: and I don't blame him. But that's also if someone is, a tough guy like Trump is.
Jolene: Well, okay. But I'm sure that Trudeau also is going, listen, I'm outta here. I don't care what I say because what's he gonna do? And Claudia Baum is more like, okay, I gotta work with a
Nicole: Sure, sure, sure, sure. Totally.
Jolene: she's going, okay. And, and Mexico is very dependent on the US for so many things [00:20:00] that I think it's a, it's a different dynamic.
from a CPG standpoint, getting our product into Canada is very hard.
Nicole: Oh, it is.
Jolene: Yes, because our product has butter in it. There's only so much dairy that Canada will allow in on an annual basis from the us.
Nicole: they're trying to encourage dairy to be like Canadian dairy. Is that what you, is that why?
Jolene: Yes. And, um, I think that there, and now we go back to RFK, there's also, the American Dairy Association allows, bovine antibiotic that Canadian products don't. I mean, there's, I think there are other things that from. Um, just from a regulatory standpoint that Canadians don't allow in their dairy that we do.
So it's, it's restrictive, but you also, there's packaging restrictions from us to Canada. All of the packaging has to be in both French [00:21:00] and English. So that means you have all new packaging and your labels have to be, um, you know, done in grams. And so again, that reciprocity between Canada and and us, it's a lot harder for us to get our products up there, that it is for them to allow our products in here.
And I think that, I think that's what Trump's trying to do. Um, I mean, China, we've gotta talk about China
Nicole: We've got a, and, and and Europe, I feel like all of it, right?
Jolene: I think we have a real issue with China just from a, a geopolitical standpoint, there are so many issues with China Canada and Mexico is small potatoes talk in terms of trade when we're talking about China just the amount of global manufacturing that China represents.
China's market share is 30% of the global, um, manufacturing United States is at [00:22:00] 16%. So you think of all of the things that we manufacture for the rest of the world, it's half of what China produces for the rest of the world. They have, you know, a lower cost of goods because they pay their people nothing.
They have no child labor laws. They have, you know, all the things that make them bad actors. but that's why stuff from China's so cheap. So, unless we were to issue tariffs on Chinese products, on the steel, on the aluminum, on the electric vehicles, the, pharmaceutical ingredients, we are just paying China man.
We are paying them a lot of money to control us. And that's, I think that is the bigger conversation when you talk about tariffs.
Nicole: Wait a minute. CC control us. What do you mean by
Jolene: Because we're so dependent. We're so dependent on China for cheaper products, I mean, but, but Jolene is that, is that, is that,
Nicole: China's fault though? Because
Jolene: No, it is absolutely.
Nicole: part of me is like, well, [00:23:00] wait a second here. we are as a culture, as a society, are demanding all our things as much stuff as possible and as cheap as possible and as fast as possible. I I mean, I think I understand where you're going I think, but, uh, having stuff coming back to United States is going to take years. Years and effort. People have to actually want to do it. They have to want to build,
um,
manufacturing, facilities. Right? Right. They
Jolene: the
batteries. And so this was one of the biggest things that was a problem I think with, the demands by the Democrats in the whole like, green energy initiatives was to switch to solar, to switch to electric vehicles, to, you know, to mandate that all electric vehicle or all vehicles be electric by, you know, 2030 or, you know, whatever it was.
And solar needs to be at so many. [00:24:00] All of the things, all of the batteries, the, um, instruments to make the solar panels, all of that stuff is coming from China. So when, when the Democrats were demanding and, and implementing, you know, programs to, to switch to green initiatives, the Republicans were saying, we are paying, you know, dollar after dollar after dollar or yen after yen after yen to the Chinese to get all these things.
And, and the Chinese I'm sure are sitting there going, yeah, keep it going. 'cause we are benefiting from you doing this. We and the Republicans, I, I know that I've read. Where a lot of the Republicans were saying, let's get that manufacturing and those parts and, and, um, those capabilities in the US first before you start mandating these initiatives so that it benefits Americans and we're not benefiting the Chinese.
Nicole: That sounds awesome.
Jolene: [00:25:00] Okay, I mean, Solved that well, no, I mean, it does, it makes total sense to me, of course. Right? I, I mean, that part makes sense, but I think politics get in the way and so then it's like you get that. So maybe some people do have good intentions. I really hope so. I think you and I do, and I know that I think more than just two of us have good intentions, but to me that makes sense.
Nicole: It's like, okay, that's a practical thing.
Nicole: and I don't know that, I'm not gonna say all Republicans don't want wind or solar. They're like, we need it here and let's do it here. But where it goes, it's like, no, it's fossil fuel and coal and, and I don't wanna let go of my money. And I, so it's really not about anybody except for the money and their interests.
Like I think about what happened with CID at the very beginning and the masks. they're all coming from China. And we were waiting and, and it was like the poor people, the poor nurses and doctors in the [00:26:00] hospitals were like having to like ration their masks. And we, we, as at the beginning, we're not allowed to use them.
And, and then I'm thinking to myself, well, self, I'm gonna assume if we stay in a global way, which we would, we we're not gonna go back, that we're gonna start making masks in the United States.
No, no, no. And
Jolene: Because we couldn't make 'em cheap enough,
Nicole: well then, you know,
Jolene: so then let's issue a tariff on it so that our products are at the same price points as the Chinese products. Doesn't that make sense?
Nicole: not to me. the tariffs then go on the consumer.
Jolene: Well, does it though, because if
you
Nicole: that's an American company, but think about this, okay, let's take masks for example. If you've got a mask that costs 2 cents from China, but it costs 10 cents from an American company, of course you're going to [00:27:00] pay the 2 cents That that, I mean, that's been the conventional thinking, but what if you raise the tariffs on that Chinese mask so that it is, it is also.
Jolene: 10 cents. And now you as the consumer, you have the ability to either choose now to buy the 10 cent Chinese mask or the 10 cent US mask.
if you are buying that, that American made mask, you are also contributing to the tax base. You are also contributing to jobs for the Americans.
You're also contributing to the schools that then are being sustained from the taxes that are being, um, generated from that business. Being in that local municipality. I mean, see how that all works if, but Chinese products have no regulations and so if we're only price driven, we're gonna get screwed as Americans every time.
Nicole: I mean, we are, we are price driven.
Jolene: Totally. But we've got, so we've gotta change [00:28:00] that narrative. To make it more equitable and make it make sense to buy American again.
Nicole: I hear what you're saying and I understand what you're saying. I think I think it's a bummer that because we are the ones that are gonna get hit hard, those of us that, just, you know, regular
people, make consumers make, you know, making a paycheck and living in and going to the grocery store and all the things, when I think of like America and I think of like the land of the free and that we have choices here, that we have choices that we don't have in other countries. and so it starts to feel whether it's the tariffs, like, it's just, it's, it's like a bully way to force people to buy American. I get what you're saying. I really do. Like we are addicted to stuff in this [00:29:00] country. Everything is more, I need more, I want more. I want it fast. Amazon. Like if, if, if that,
Jolene: No,
Nicole: I don't, whatever the, I don't know, like the dumb shit that we get at our front door, like that little cord that we need has to come yesterday.
And if it doesn't, where is that thing?
Jolene: So irritating.
Nicole: So I can't believe it. And so we, we are like, yes, there needs to be a shift. I just. All these billionaires that are running the country right now, I don't think when they say, ah, it's gonna hurt a little bit, I don't think they understand the pain. Like I think about, Trump with his like meme coin and then I read that he, you can sit down with him at Mar-a-Lago for $5 million, [00:30:00] or if it's a group, it's 1 million each. And all these things, like they're not, that shit's not affected by the tariffs. I'm thinking, God, of course he can say this stuff 'cause it's not affecting him,
Jolene: All right. So if. If they would have done tax cuts first and introduce this concept. the tax cut plan that Trump is proposing is, no one pays taxes who make less than $150,000 a year individuals. married is 300,000.
If you make less than 150 individual, 300,000 as a couple, you will not pay any taxes. If the, he would have introduced that concept first and then started talking about tariffs, people would have looked at it from the perspective of, holy cow, I don't have to pay taxes, because that's 93% of Americans, 93% of the US.
Makes less than [00:31:00] 150 individual, 300 Co as a couple. So if 93% of the Americans looked at that and said, I'm not gonna have to pay taxes, that is money in my pocket. And then they would've said, now we're gonna introduce these tariffs. and they'd say, well, that's okay because it's gonna even out. I'm gonna save $15,000 a year, or I'm going to, now all of my cost of goods on everything is gonna go up, but I'm supporting American businesses and I'm supporting my neighbors who are working that.
Ideally, that would've been a beautiful, maga moment,
but it didn't happen that way.
Nicole: No, it didn't. No, it didn't.
Jolene: But does that make sense? is that something that you would get on board with?
Nicole: I am not into tariffs. I think that's a wonderful idea that people under, like individuals that don't make. More than $150,000 don't get taxed. What about the [00:32:00] super rich people?
I have an issue with how little tax they pay. What do you
Jolene: right. I agree. But I also
Nicole: Because I feel like the middle of us get hit the hardest.
Jolene: right? Yep. And, and so you look at, um, you look at, it was Warren Buffett who said that, you know, he pays less than his, than his assistant does. And that was I do too. he's so smart. I love him. I, I mean, I really do. and Bill Gates and, um, you know, George, so Soros, I mean, you look at the, you wanna talk about billionaires that run the United
Nicole: I want them all to get text.
I don't
Jolene: all should be tax,
Nicole: Absolutely
Jolene: let's tax the wealthy.
Nicole: They're not gonna even feel it. Jolene,
Jolene: we could get into a whole tax thing. Yes. There need, we need to, to get rid of the loopholes that allow the, the super rich to not pay their fair share. But if you actually look at how much, the 1% of the top 1% of [00:33:00] earners in America pay over 50% of the tax as it is right now.
Nicole: do you have an idea where you might have gotten that,
Jolene: There. Okay, here's a new one called USA Facts.
Nicole: Okay. For those of you listening, it's U-S-A-F-A-C-T-S-U-S-A Facts Making Government data. Make sense? No partisanship, no bias. Hashtag just the facts. Look at you, Jolene.
Jolene: Look at that. This is um, tax foundation.org.
Nicole: Okay.
Jolene: latest federal income tax data. it says the top 1% earned 22.4% of the total a GI and paid 40.4% of all federal income taxes.
Nicole: Thank you for checking.
I think it's important,
Jolene: right, because again, this goes back to the narrative that, you know, the rich don't pay their fair share. to be in the top 1% of earners in the US you generally need to make around [00:34:00] $787,000 a year. And that can vary significantly by state, from state to state.
Nicole: Do you have any money in the stock market?
Jolene: Yeah.
Nicole: don't really like it right now.
Jolene: Oh, I, I mean, we don't, we don't look, and especially with Jeff being retired, I mean, that's,
Nicole: You can't look.
I mean, I can't imagine the people, 'cause I live across in the stock exchange, not that they're actually there anymore. Uh, but their little hearts, like, I can't imagine what it's doing to their nervous system, uh, to go up and down and be responsible for people's money and the amount of pressure and, and no one knows.
No one knows what's happening. Like it literally changes all the time. Right now, are you feeling like, okay, like are you believing the narrative of we need to hang tight because it's just gonna be painful before it writes itself?
Jolene: [00:35:00] I have to trust that, um, they know what they're doing and not just Trump, but his financial advisors and his, you know, um, secretary of Commerce and, you know, treasury Secretary, and I mean, all the pe You know, this isn't just a Trump thing. I mean, this is everyone working together to, to work out the details and make this work.
You have to trust that it is going to work. I don't think it's a knee jerk reaction. I don't think it's a fly by night. I, you know, I don't think it was Trump going, you know what we should do? We're gonna, we're gonna raise the tariffs. I mean, I don't, I,
I
Nicole: he is got your southern accent.
Jolene: I don't know how he had a southern accent back
Nicole: I'm like, okay. Um, but what about all, like, there's a lot of conservative economists that are not in agreement with this. What do you think about that?
Jolene: I think that they wish that the tax cuts would've happened first. And then the tariffs happen later and, and who knows? A again, this could be the art of the deal, it could be a negotiation [00:36:00] tactic or it could really be of feels like it to me. '
I do think that the Chinese tariff thing, I'm all for, I absolutely all for, um, I think China is our greatest geopolitical threat.
Do you think that,
Nicole: oh gosh.
Jolene: I mean more so than Russia or the North Koreans or the
Nicole: there, I think it's a, you know, they're all a combination and they're all partnering together, which I think that's the scariest part. I mean, we're going into another conversation or an old conversation, but, you know, China is incredibly smart and they're, they're now, I hate the word soft power, but it's what's used, like they're going into Africa and they're helping countries that we've pulled out of, and that's an issue.
you know, of course Kumbaya over here. I want, like, I want the world, I want us to like be buddies with the Chinese. [00:37:00] Like I want us to figure out, wouldn't that be nice? Like, I know that it's totally, completely off the rails, but wouldn't it be nice if all the countries got along?
Jolene: that would be beautiful my friend.
Uh, okay. This was a great conversation.
Nicole: It was a start. You guys listen, tariffs are big and they're gonna keep going. So we might come back to this conversation, right?
Jolene: Because it may change tomorrow.
Nicole: right, that's right. Uh, do you want to, uh, do a good for the soul and then, and then head into the, would you rathers?
All
right. What's your good for the soul, my dear?
Jolene: Uh, mine is peaches and diesel.
Nicole: What is that?
it an Instagram
Jolene: the Instagram. Yes. So it's peaches, then it's the letter N, peaches. N-D-I-E-S-E-L. And then, is it 1 0 4? Maybe it's peaches and diesel 1 0 4.
Nicole: Yes, it [00:38:00] is.
Jolene: She is just funny and lighthearted and she does funny things and she's an empty nester now and her kids are all off and, she's just funny and I love to
Nicole: you you follow her. It says unfiltered musing, so I can hear myself talk.
you follow her. And Dr. Marie Claire, who I love,
the me the menopause doctor follows her. And now I follow her.
Jolene: Oh, thank you. Okay. Who's yours?
Nicole: Well, I don't know if we, I think we've might've in our friendship talked about this man. other than you.
He's my favorite Christian.
do you know James Teleco? It is James, J-A-M-E-S. His last name is Ricco, T-A-L-A-R-I-C-O, James Ricco. And he's a Texas State representative, a former middle school teacher. He's a proud progressive and an eighth generation [00:39:00] Texan. He is so measured.
He is so smart. He is so pro-human and articulate and hurt forward. like if he says he's a Christian, he lives it. Like, and I think you, I think you would like him for that reason. and the way he, um, defends himself or articulates, he is not a screamer.
he speaks from the heart. And if he's actually dealing with another Christian, he might say, Hey, you know, I know we, we, yes, but in a very gentle way, which is like, you listen to him. So I thought you would appreciate him and, and other people would appreciate him as well.
Jolene: My, um, my friend Brooke follows him and my friend Sheila follows him. So, and now, and you. And so now I'm going to,
Nicole: There you go. Right
Jolene: oh, that was good. Okay.
Nicole: So you ready lady?
Jolene: Yes.
Nicole: Would you [00:40:00] rather have universal respect or unlimited power?
Jolene: Oh,
oh. But if I had unlimited power, couldn't I make everyone respect me? Mm-hmm. Okay. So is it me? Is it me personally?
Nicole: It's you personally. I know I had to answer it myself. I was like, oh, this is a good one.
Jolene: It is a good one. I am so proud of you. Uh, I gotta go with the respect thing. I mean, if everybody respects you, then doesn't that give you the power?
Nicole: I'm with you, sister.
Jolene: Is that the way you thought of it is,
Nicole: It is, then I was like, Ooh, unlimited power. I could, I could make you respect me, but no, but no, I think ultimate respect, I mean, universal respect. Listen, I'm such a fucking people pleaser.
Well, if you had universal respect, you might actually get what I want,
which is [00:41:00] all, all the world to get along.
Jolene: to get along.
Nicole: Free to be you and me, baby. Global. Free to be you and me. Totally. My Lord.
Jolene: Okay. Yours is very sweet and kind and deep. Mine is not.
Nicole: Perfect.
Jolene: Would you rather eat a brownie with a little bit of dog poop in it or a cookie with a crushed up cockroach?
Nicole: I would take the cockroach up. Cockroach. Any day I've been to in Mexico City, I've had like grasshoppers and ants and they're actually quite good. No dog poop for this girl. Dog poop. Hells to the, no, no, no hells to the, no, no, no, no, no, no.
Jolene: Okay. All right
Nicole: Done. And dusted. Girl. Blah.
Jolene: that was easy for That was so easy. Gimme that cockroach any day.
Nicole: I think they have protein. [00:42:00] Cockroach cro. Gimme that cockroach. Any day. I think they have lots of protein in it. Yeah.
Jolene: Little. Okay.
Nicole: All right. Um.
Jolene: Oh,
Nicole: Thank you,
friend.
All right, I'll see you.
Jolene: Bye-Bye.
