Link: Trump and Tariffs, The good, bad and ugly


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Posted by SagoBob on January 09, 2025 at 10:10:49

From WaPo. The author states that Trump wants to increase tariffs to "pay for" his proposed tax cuts, with the benefits flowing mostly to the wealthy and the bill to the rest of us.

From the article: "At some point, it will sink in that American consumers are the ones who pay for hefty tariffs. A typical household would pay more than $1,200 a year. The Tax Foundation ran the numbers and found that the bottom 40 percent of households would lose, because they would pay more in tariffs than they would get back in tax cuts. The Peterson Institute for International Economics found that the bottom 80 percent would be worse off, and only the richest Americans would benefit."



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