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Tariff - Blog Posts

3 months ago

Yup

Breaking News, Trump STILL doesn't understand what a tariff is.

In a development that surprises no one, Donald Trump has suggested eliminating the progressive income tax and raising government revenue through tariffs on foreign countries. Tariffs actually affect the company that the US government has jurisdiction over, the importer. So you might have lower or no income tax, but everything you buy will be more expensive. Especially since the US economy is focused on downstream manufacturing and not raw materials production. IE, You have to pay more for a Coke, because Coke makes cans out of raw aluminum it buys from Canada, and the aluminum importer has to pay a new tax (the tariffs). And another fun fact, since working people generally have to spend all of their income to survive and rich people can save/horde money, tariffs will cost poor people more money and make rich people richer if they aren't paying income and payroll taxes anymore.


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