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346 points Kye | 1 comments | | HN request time: 0.212s | 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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arghwhat ◴[] No.45018954[source]
The shops you're thinking of are less of a sweat shop than, say, Amazon in the US. Theres no good wages, but factory jobs don't really pay well anywhere.

They're mostly just a lot more efficient at scale, with a few plants managing close to the whole worlds supply of random shit. Almost all microwaves by all international brands are made by the same Chinese company, all prismatic LiFePo battery cells come out of one of two factories in China, and so forth. Economy of scale on turbo steroids.

Imagine having to compete with Ford by making cars in a garage. Now imagine Ford as the garage shop vs. these factories.

The sweat shops you're thinking of is stuff like clothes manufacturing in other third world countries than the usual suspect. That shit is nasty - breathing and handling acid with naked skin nasty.

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1. ◴[] No.45030878[source]