I took an undergraduate degree in Economics, but instead of going on to graduate school in Economics, I chose to do other things with my life. You don't need an advanced degree in Economics to know that Trump's tariffs are a tax on American consumers. They may be worth it. I don't have an opinion about that. But I do have an opinion about how gullible and ignorant Trump and Scott Bessent, Trump's billionaire Secretary of Treasury, assume Americans of both political parties are.
Bessent told CBS News that the U.S. will be bringing in more revenue from higher tariffs. What he failed to say is that the revenue is going to be coming out of the pockets of Americans when companies pass the cost of those tariffs on to their customers.
Tariffs are a tax paid by importers.
In an educated republic, no politician would dare to lie like that.
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