Tariffs are at the center of former President Donald Trump’s economic plan. He wants to put across-the-board 60% tariffs on everything from China and 10%-20% on everything else from the rest of the world. It’s an extreme trade policy that he wants to use to generate revenue to cut taxes. But how would they work?
everyone with two brain cells knows it’s terrible for people who buy things while not wealthy.
What makes you think it’s good for the wealthy? This article is from the WSJ, not the Jacobin.
Spoiler: tariffs are bad for everyone. Regular people won’t feel the pain immediately, but if your the kind of capitalist that imports goods, especially from factories you’ve moved to Asia, the pain starts on day one.
Look at the bright side, implementing Trump’s tariffs would cause two unprecedented events:
- it’d be a steak through the heart of the neoliberal economic hegemony
- economists as a group might finally make a prediction that came true.
steak through the heart
like, a chunk of cow stabbing someone? or a wooden stake?
Lol, Republicans tried this before under bush, right about the time his brother was running for reelection in florida. Bush whacked huge tariffs on a number of things coming into the US from the EU
The EU “florida hey? Nice oranges you guys have out there. Wouldn’t it be a shame if someone was to, oh I dunno, put astronomical tarrifs on those delicious oranges, right in the run up to the florida governor election?”
It cut to the heart of the cronyism in the US political system. Not that anyone else has less or more. We all have it to one extent or another. Its just, imagine if it was your country’s exact flavour of it laid bare and made public like that.
The Republicans were very embarrassed have hated the EU ever since.
Who knows, maybe this time it’ll work.
Just a quick reminder, the WSJ is owned by Fox News / Rupert Murdoch.
And yet here we have an unbiased explanation about tariffs, how they would be worse for everyday Americans under Trump, and how Biden continued Trump’s previous tariffs.
The thing about tons of right-wingers, they usually only care about the economy and Trump’s plan is objectively worse on every aspect.
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