One opinion regarding the tariffs
https://www.realclearpolitics.com/v...hat_trump_did_he_stopped_wealth_transfer.html
https://www.realclearpolitics.com/v...hat_trump_did_he_stopped_wealth_transfer.html
Manufacturing added just 3000 jobs in May after adding zero in April. We have the largest inventory of unsold automobiles since 2009. Farmers can't sell the few crops they were able to produce in the floods. Orders for civilian aircraft are dropping. The broken window fallacy is real and the violation of it permeates everything both isolationist and liberal economists propose, including tariffs. Tariffs are on a course to cost well above the estimated $700 they right now cost every American consumer.
Tariffs are the equivalent of setting your house on fire to decrease your neighbor's property value.
I think it was a TTP study. Seven hundred and some odd dollars this year when the 25% hits China as scheduled.I'm curious as to how they calculated that $700 per person figure ? ? ?
I'm not seeing it...
A lot of folks would. However a tariff is a regressive tax and as such it hits those who can't afford that bill the hardest. Their option is to reduce consumption. If the taxed item is a staple, they will cut elsewhere.I'd gladly pay an additional $1000 per year if they would control our borders and enforce legal immigration.
So if we drop the tariffs do we get our money back?A lot of folks would. However a tariff is a regressive tax and as such it hits those who can't afford that bill the hardest. Their option is to reduce consumption. If the taxed item is a staple, they will cut elsewhere.