Explain Like I'm Five

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If Trumps tariffs go thru would that not cause the countries the tariffs are imposed on just raise their prices? And a result of that hurt the american consumer? Why do it to begin with? (lemmy.world)

submitted 14 hours ago by [email protected] to c/[email protected]

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[–] [email protected] 7 points 11 hours ago (1 children)

Yup, lowering a progressive income tax and increasing a regressive (sales) tax. The poor get hurt much more than the rich.

[–] [email protected] 3 points 10 hours ago* (last edited 10 hours ago)

Exactly. Companies and the rich usually make most of their profits off whats below the bottom line and expectations of the bottom line going up. The majority of the population, lives and breathes what is above the bottom line. Their wages, their equipment, their healthcare, 401k matches... day to day perks, everything down to the coffee quality to keep people going when you should have crashed. That's where the cuts come from to make sure the bottom line stays positive and increasing, otherwise they would lose investors and stock buyers. So long as they keep buying, they don't give a damn what happens above the line. Hire micromanagers if they have to, cut bonuses, make employees who would make 55k a year hourly into managers with a set 45k salary with no overtime bonuses because it falls into the loopholes that a certain party keeps fighting to leave open.