Oh god, it wasn't an act. He's so stupid he actually thinks that foreign companies pay tariffs.
this post was submitted on 14 Jan 2025
21 points (100.0% liked)
Economics
1746 readers
44 users here now
founded 5 years ago
MODERATORS
Either that or the people that tell him what to say think that his followers actually think that. Which I would not be surprised...
That does not sound like government efficiency.
These tariffs amount to trickle-down sales taxes, and sales taxes are regressive.
It’s a good thing for him that when the average shlub who voted for him finds his quality of life declining, he’ll just blame the wokes, gays and liberal coastal elites for his misery.
Let me educate myself a bit more on taxes/tariffs.
Wikipedia says a Tariff is a tax paid on the import or export of goods. As I understand that, a tariff is a fee added to the price the importing corporation would pay for that good and, as you're pointing out, that fee will simply be passed down to the consumer.
There is a transfer of money from the corporation to the extra-national company which produces the good and there is a transfer of money from the corporation to the government of the corporation's nation. But if I'm understanding this right, there is no transfer of money between the seller of the imported good and the corporation buying it, right?
Who pays the government and when is a devil in the detail of each individual tariff.
I was thinking about something witty, but all that remains… is
wat
w. bush still holding trump's beer