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346 points Kye | 1 comments | | HN request time: 0.001s | source
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cheema33 ◴[] No.45016963[source]
This needs to be repeated. Tariffs are a tax on ordinary citizens. Unlike regular taxes, tariffs are not progressive and therefore benefit the wealthy.

These are the sort of things the poor and middle class voted for. To make the rich, richer. And then turn around and complain that rich are getting richer and they are getting poorer.

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arghwhat ◴[] No.45017339[source]
Tariffs like this is a market regulation that the people pays for.

It doesn't "benefit the wealthy" because it's not progressive, it benefits the wealthy that have investments in the tariffed industry by distorting the market to their advantage instead of having to be competitive on a level playing field.

The rest of the wealthy are equally annoyed by the tariffs as everyone else, possibly more so as they see their investments tank.

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Gud ◴[] No.45017394[source]
There is no "level playing field" when you are competing with literal sweatshops though.

Frankly tariffs get a bad rep because of from who and how they are implemented but can absolutely serve a purpose.

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1. Workaccount2 ◴[] No.45017850{3}[source]
Bernie removed the section on his website about tariffs being necessary for a healthy economy...

Tariffs are a populist thing, and people seem to think it's just a Trump thing.