December 5, 2019

TRUMPONOMICS:

Trump's tariffs are coming to a store near you. It turns out Mexico won't pay for those either. (Evan Siegfried, 12/04/19, NBC)

Instead, their cost -- initially paid by the company producing the good -- is passed on to you and me: the consumer. Companies who sell goods subject to tariffs raise their prices in accordance -- which in turn means that the cost is being passed on to us, the consumer, via what is a shadow tax. (That is basic capitalism.)

And it is not just French wine that will be seeing its price increase: Everything from luxury items to durable goods -- such as food and clothing -- imported from a multitude of countries throughout the world will be subject to these new taxes ultimately paid by Americans.

So not only will there be political ramifications for the president and those who support the trade war, but, and more important, there will be economic consequences that will affect all Americans.

Posted by at December 5, 2019 12:00 AM

  

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