Donald Trump's newest harebrained scheme to hoodwink voters into thinking he'll improve their lives is a vow to impose harsh tariffs on foreign goods, promising that it will bring back jobs.and also, somehow, billions of dollars.
"A tariff is a tax on a foreign country, that's the way it is, whether you like it or not. A lot of people like to say, 'Oh, it's a tax on us.' No, no, no," said Trump at a recent rally. Of course, the problem is that it absolutely ends up being a tax on up as companies pass the costs on to the customers, the working families of America.
No tariffs on foreign goods! Raise taxes on the wealthy!
Yes, yes, yes, says people who ACTUALLY know what they're talking about, like Howard Gleckman at the Tax Policy Center, who writes that "despite what the President says, it is almost always paid directly by the importer (usually a domestic firm), and never by the exporting country….A business will, if it can, pass its higher after-tax costs on to consumers"
Robert Shrum, director of the University of Southern California Center for the Political Future, said "This is simply economically illiterate. No wonder he apparently had a mediocre record at Wharton." We need leaders who will fight to help working families, not cut taxes for the wealthy and try to make up for it with nonsense like import tariffs.
Reject Trump's plan to raise prices and hurt working families!
