Trumpnomics Robs Poor, Middle Class

Leaving aside for a moment the undeniable legal, political, and economic hurdles to unilaterally imposing a 45 percent tariff on all Chinese imports, as well as the utter gibberish at the end of Collins’ response about inflation and the federal budget (seriously, I have no idea), let’s take the plan at face value. According to Team Trump, their import tax would (i) force American consumers to pay 10 to 15 percent more for food, clothing, shoes, electronics, and other basic necessities; and (ii) thereby assist American manufacturing companies and their workers.

Put another way, Team Trump has now freely admitted they want to indirectly subsidize U.S. manufacturers via higher prices that American families and businesses would be forced to pay for these domestic producers’ goods.

Via Endorser Agrees: Trump Policies Will Benefit Rich at Expense of Poor and Middle Class @ Cato Institute.

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