20/11/2024
Google searches for “tariff” have suddenly spiked after the election. I've been ringing the alarm bells on this for a long time, but here's another reminder...
Tariffs aren't paid by other countries. A tariff is basically a sales tax passed on by the seller, raising the price of almost everything you buy. It's also regressive — taking a higher percentage out of the paychecks of working people than out of the wealthy.
Tariffs will lead to higher prices paid by consumers. Corporate profits will get fatter. Trump will cut corporate taxes even further. More money will get pumped into stock buybacks instead of wages and job creation. CEOs and investors will reap the spoils.
Help spread the word — many people are still failing to understand this.
