Tech industry primed for big refunds if SCOTUS rules against Trump tariffs.

If Donald Trump loses his Supreme Court fight over tariffs, the US may be forced to return “tens of billions of dollars to companies that have paid import fees this year, plus interest,” The Atlantic reported. And the longer the verdict is delayed, the higher the refunds could go, possibly even hitting $1 trillion.

  • gilindoeslemmy@lemmy.world
    156·
    2 months ago

    What percentage of that money refunded to companies will be given back to the consumers that they passed the costs onto? Hmmmmmmmmm

      • arrow74@lemmy.zip
        19·
        2 months ago

        Okay but to be fair how would companies even go about doing that? I know they won’t want to, but even if they did it’s not possible.

        What’s more damning is that even if the tariffs are reversed they will keep the tariff related price hikes and pocket the difference. As we saw companies wil use any excuse to increase prices

        • TrickDacy@lemmy.world
          14·
          2 months ago

          I mean yes, exactly. All reasons the tariffs were indefensible to begin with. The damage largely cannot be undone so it was never even excusable as something to try even if done in good faith

    • evenglow@lemmy.world
      8·
      2 months ago

      Why do you think Republicans want people talking about dividend checks?

      What percentage of that tariff tax hasn’t already been spent on bunkers and ballrooms?

  • Doomsider@lemmy.world
    60·
    2 months ago

    The total collected so far is under two hundred billion. We would have gotten more in taxes if we had just taxed the rich and they would have barely noticed it.

    • partofthevoice@lemmy.zip
      25·
      2 months ago

      And why the fuck would companies get the refund? The costs of their import fees were passed onto consumers. Another fucking payday for the slime fucks while the actual population of human beings suffers?

      • Bakkoda@lemmy.zip
        7·
        2 months ago

        Literally the point. US government and the businesses in this country are all pretty much on the same team and you aren’t.

    • Lucidlethargy@sh.itjust.works
      5·
      2 months ago

      They’d have bitched, then gone back to doing every goddamn thing they did before.

      Nothing impacts the ultra-rich. A fortune to us, it’s nothing to them.

  • Geodad@lemmy.world
    59·
    2 months ago

    Not to the companies, to the people. We all know the companies passed the costs on to us.

    • Frezik
      44·
      2 months ago

      Morally, yes. Legally, it’s going back to the companies, and they’ll pocket the money and walk away.

  • MattEnglish
    39·
    2 months ago

    What happens when you preemptively comply:…. Also I hate that the courts are legislating since Congress is doing nothing. If the law was clear the tariffs would’ve never been a thing.

    • ubergeek@lemmy.todayEnglish
      43·
      2 months ago

      The law is clear, we just have a POTUS who doesnt care what the law says, a congress refusing to act as a check on the executive branch, and the courts are mostly captured by Trump.

    • NatakuNox@lemmy.world
      3·
      2 months ago

      Yup. Because the other two branches of government are ran buy the same money grubbing capitalist mind virus, the courts and legislators went along because of fear of the working class emancipation.

    • NotMyOldRedditName@lemmy.world
      3·
      2 months ago

      After i heard the supreme courts initial reaction during oral arguments I was wondering if Vegas bookies started taking bets on it. I imagine so given something like this heh.

  • BonkTheAnnoyed
    2·
    2 months ago

    I happen to know of a newly minted trillionaire whom in a just world would reasonable be asked to foot the bill

    • Pat_Riot@lemmy.today
      2·
      2 months ago

      In a sane world someone would slay that dragon and disperse its wealth back into the people. It’s time to start slaying dragons.