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re: Tariffs are bad
Posted on 4/17/24 at 12:37 pm to wheelr
Posted on 4/17/24 at 12:37 pm to wheelr
quote:
Tariffs are bad
All taxes are bad.
But if I had to rank them tariffs might be the lease insidious of all taxes.
Tariffs are a consumption tax on specific imported good. They only made up $80 billion in the $5 trillion federal tax revenue. Tariffs are miniscule compared to other taxes.
Income taxes are probably the most insidious. They are marginal in terms of your level of income and they are targeted. That is, certain demographic get favors under income taxes based on physical traits, what you own, education level, etc.
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