Trump aide says tariffs will raise $6 trillion as White House readies plan
Trump aide says tariffs will raise $6 trillion as White House readies plan
7 comments
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Tariffs only raise the money that people pay for. How many folks are just going to pay +25% more for anything than just buckling up and buying less?
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Read another way, what part of the population does he think has $6 trillion sitting around?
The more likely outcome is decreased spending and either deflation or stagflation as the economy shrinks.
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Raise $6T or transfer it from one class to another?
Asking for a former friend. You’re the economists.
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That is $6 trillion from new tax called "Import tariff". Retail Price = Purchase Price + Transport Costs + Tariff + Profit Margin + Sale Tax
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That's quite inaccurate. Many of these taxes are not additive but multiplicative:
Retail price = ((Purchase price + international transport costs) * tariff + national transport cost) * profit margin * sale tax
In other words, it's even worse than you wrote.
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7 comments