How does a 100% tariff only increase the real price of a $10,500 stent or a $600 eyeglass by only $15?
What does President Donald Trump’s tariffs on $50 billion worth of imports from China actually mean, and how will this affect you?
The blather ministers of mainstream media have received their talking points from the same lobbyists who control Congress, and they are using scare tactics on the public.
“A 25% tariff on a product will raise the cost of needed goods by a third, hurting the American consumer,” one son of a billionairess announced.
“We will have shortages of needed goods,” a genius two years out of college lamented.
“There will be a trade war, like the one that caused the Great Depression,’ a fellow with a bad wig grumbled.
The last point first. The Great Depression and crash of the stock market was in 1929. The Hawley–Smoot Tariff act was passed in 1930. The Depression was the result of the greatest economic inequality in our history – until today. The Crash was not caused by tariffs enacted after the fact by the unfettered capitalist administration of GOP president (Herbert Hoover). Continue reading →