Understanding that tariffs, a form of a tax, will absolutely increase the cost of those products as the importer has higher costs.. those costs will be passed to the consumer, while the tariff imposed is collected by the Federal treasury. So now the US gov't has more money, but the consumer has less. This is another example of a regressive tax as consumers get hit but those who are not consuming, the 1%ers who are saving and investing not buying with most of their income are not being taxed. So the tax burden is imposed on those who can least afford it and the benefit of not needing to consider a higher marginal rate from the rich benefits who??
__________________
Men plug the dikes of their most needed beliefs with whatever mud they can find. - Clifford Geertz
|