U.S. consumers bearing more than half the cost of tariffs so far, Goldman Sachs says
The findings suggest U.S. consumers will continue to struggle with high prices — something Trump had promised to address in the run-up to his re-election.
you know, trump, he says a lot of things, but this tariff thing? I think he’s really got a good point there. We’re really supporting too many countries.
My coworker gave me the same spiel and keeps complaining about how the local shoprite is too expensive and she won't shop there anymore. My office is so hopped up on copium that I just don't bother anymore.
Ah this guy also just spent about USD750k on powersport toys this year, he won’t notice. But he might notice when his business gets hit because all their material comes from Germany… fingers crossed!
Please do bother
supporting
These are people who heard “trade deficit” and thought “deficit? That’s a bad word!”
We were getting a ton of stuff from other countries for cheap, meanwhile those countries either couldn’t afford our stuff or bought it at an absurd premium.
That is not supporting the other countries, it’s exploiting them.
The funny thing is, I’m like… Yeah, we should probably stop exploiting them. And in that sense, the tariffs are a good thing. Buuut the price of doing that is being paid disproportionately by working class people.
If it was more equitably implemented, I wouldn’t necessarily have a problem with a more tariff-based USA.
How is it that people don't know how a tariff works???
Are there a bunch of "other" tariffs that I don't know about???
The GOP has spent decades and billions of dollars making sure most Americans have grown up not knowing how any of this works.
There's a shocking lack of financial literacy from a lot of people, and not just Americans.
Tax brackets, tariffs, you name it. People somehow expect either the importer or the manufacturer to wear the cost.
...and perhaps most importantly: compound interest
This applies not only to growth, but to debt.
In people's defense, unless you are taking uni economics classes, you probably aren't getting taught macro/micro + general economics, though it is interesting as hell imo.
Technically, our representatives should, in theory, be learning this stuff and protecting the average person so that civilians can focus on foresty/rocket science/ R&D/public health/business/infrastructure/etc.
That's why representatives technically are supposed to exist. Nobody has time to learn the one and outs of everything needed to run an entire country smoothly. Especially complicated stuff, like public health, economics and trade, sewage systems, transit systems, and centralized grid planning. That shit is complicated AF.
It's crazy that over 200 years ago, some Boston dudes got so angry at this same thing happening that they threw every last barrel of tea into the ocean and proceeded to start a fucking war for independence.
Is that what you were told? The Boston Tea Party was caused by a cut in taxes.
The source of the protestors' anger was the passage of the Tea Act by the Parliament of Great Britain on May 10, 1773, which allowed the East India Company (EIC) to sell Chinese tea in the colonies without paying taxes apart from those imposed by the Townshend Acts.
Checks out
Have the day you voted for.
I voted for Spiderman.
Yep, haven't bought anything new and tech related since the start of the year.
If you think this is bad, wait until his 5th year in office, because you're still not going to do anything.
Everything is gonna come tumbling down very soon. Brace, y’all.
I'm so tired of winning.
i haven't been buying shit
