Ignore the word 'tariff' -- Trump is pitching higher taxes

[Yo_Mama_Been_Loggin]

New York
CNN
—
Former President Donald Trump on Tuesday was interviewed by Bloomberg at the Economic Club of Chicago, where he once again touted historic tariffs as a way to grow America’s manufacturing sector by making foreign countries foot the bill.

But, given the economy’s central importance in the 2024 race, it’s worth hammering on an Econ 101 fact: Tariffs are a tax on Americans.

If you’re rolling your eyes right now because you already know this, congratulations and feel free to scroll on. Trouble is, a lot of people don’t seem to get this — including Trump, who, CNN has reported, has falsely and repeatedly claimed that China would pay for tariffs he imposes.

It’s just not how trade works — not now, not ever.

https://www.cnn.com/2024/10/16/business/tariff-tax-trump-nightcap/index.html

[brush]

1. Thank you for clearing that up for those who don't know.

And I agree trump doesn't seem to know that China or any other nation exporting goods to the US doesn't pay into the US treasury for tariffs.

God, he's such an idiot if the thinks that. US importers pay the tariffs and pass on the cost to consumers by upping the price of the goods they sell to shoppers.

It would be nice if a presidential candidate knew such Econ 101 info.

[MichMan]

2. No different than any other form of taxes

Tariffs, business income tax, property tax, excise tax etc. All get passed on

[FakeNoose]

3. Yes he is - higher taxes and higher retail prices on just about everything