Comment by mmooss
7 days ago
It's also a tax on everyone, to the benefit of large corporations which can now increase prices / decrease value), due to less competition.
7 days ago
It's also a tax on everyone, to the benefit of large corporations which can now increase prices / decrease value), due to less competition.
Which is one of the reasons the countries with high tariffs have had worse economy overall and specifically much worse than the US economy. The higher your tariffs the worse the protected industry and the whole economy.
Yes - with free trade, the US is the wealthiest economy in the history of the world. Economic research says it works. What is the reasoning for throwing it away?
I hear the nonsense reasoning from the Trump crowd, but many know it's nonsense even as they say it. What is their real goal here?
I wish I knew. Nothing I hear from that crowd makes any actual sense except one thing: they have developed such a seething hatred for more than half of their fellow citizenry that they're willing to destroy the entire country, including themselves, just to hurt them.
But that also makes no real sense. So I don't know.
7 replies →
Power. The power to punish. The power to attempt to make people or countries do what you want. It is not economic. It only makes sense if you think like a mobster.
To tank the economy so billionaires can scoop up more/the remaining assets for pennies on the dollar as leveraged/in debt non billionaires have to sell their homes or lose them in foreclosure.
The problem is they don't think it's nonsense. They really believe this will pay down the deficit, bring jobs back to the US, make it great again.
They see it as closing loopholes - "rebadging made in China as made in Vietnam, Thailand, Japan? Nice try, Trump's smarter than that!"