So a trade deficit equals a subsidy in trump’s brain.
The US has a trade deficit with most of the world. If he goes 0% -> 25% on all imports it’ll be about $1T in funds moved from private hands into government coffers. (Of course, not all countries have 0% import tariffs today).
Would this be the biggest tax raise in American history?
So a trade deficit equals a subsidy in trump’s brain.
The US has a trade deficit with most of the world. If he goes 0% -> 25% on all imports it’ll be about $1T in funds moved from private hands into government coffers. (Of course, not all countries have 0% import tariffs today).
Would this be the biggest tax raise in American history?
I think it’s a bit of a stretch to call it a “brain”.
Maybe, and it hits the poor worse than most forms of tax increases.
So it’s blatantly in favor of the 1%, accumulating power even more in the top.