Remember everyone. View tariffs as kind of a federal sales tax. Sales tax typically affect lower classes more than upper classes. It will also compete with other sales taxes at other government levels. Those smaller governments rely on it more than the federal government.
Meaning, to grossly oversimplify, this will ultimately cost more for people with less wealth, and it will degrade your local governments ability to provide services due to less income.
To answer OP’s question. They already have plans to pass more tax cuts for the rich (federally). That money has to come from elsewhere. This is one form of the elsewhere.
The rich when tax cuts go into effect. It’s always been a mass transfer of wealth and the plan from the beginning. It’s why we always knew any bargaining was bull.
Rich people, in the form of massive tax cuts
“then what’s all the cuts to medicaid and snap and other benefits and programs going to?”
more tax cuts for the rich.
“how about all the other ‘savings’ from ‘doge’?”
more tax cuts for the rich.
“then why is the deficit still growing by billions and billions?”
more tax cuts for the rich.
“when is it our turn?”
never!
This. It sounds like a cynical answer, but it’s ultimately the correct and most concise one.
Well the US collects taxes and a tariff is a tax so yeah, it will generate funds to run the government. I think this is why Trump likes them. He sees a huge influx in the taxes collected. Plus his followers are so stupid they think China/Canada/Mexico is paying them. Win/win for him. No wonder he thinks it’s the greatest word in the dictionary.
