I'm not sure if you're being rhetorical, but people in the United States generally do not understand this. Even among those who are pro-Democrat, the differences in tax and tariff policy are usually not the top three issues.
Many people in the US believe that the target country is the one who pays the tariffs, and don't understand that they pay for them, at the cash register.
Plenty of people have good reasons to support tariffs. Free trade destroyed a lot of industries and adjanced communities and the free trade fans didn't give a damn about them.
Do…people really think that prices will go down when cheap foreign labor is off the table? Do they think we can establish replacement infrastructure at comparable costs in months or a couple of years? Will they want to work those jobs for comparable pay to keep the costs of goods stable?
Income inequality hasn't increased in the US since 2014, and sharply /decreased/ since 2019. The current administration did an amazing job at improving it!
(Note this is about wage inequality, which strictly speaking isn't income inequality. The best policy for income inequality would be bringing back the expanded CTC.)
But the median voter doesn't actually like this, because they have above-median income due to being older, and this means service workers got more expensive.
"America first" includes economic policies that drive up commerce, even at the cost of our allies. German news is full of VW and other auto executives wanting to leave for production in the US. Trump's tariffs mean companies will just want to produce in the US and export outside it. And it's working.
The idea that you’re going to be producing iPhones or other mobile phones in the US (for example) is extremely unlikely in the next decade. It will be interesting to see the chaos he causes if he goes through with this and the plan to deport 20 million people.
Tariffs are an unnecessary price increase. To use your example, there will be some modest net growth of manufacturing at the expense of higher prices for everyone, typically dominating any net growth in jobs.
We lack the critical infrastructure and skills to produce a lot of these things, so it won’t just magically restore jobs but it will increase taxes for the foreseeable future.
lynndotpy|1 year ago
mbg721|1 year ago
justin66|1 year ago
andy_ppp|1 year ago
kelnos|1 year ago
jampekka|1 year ago
seanp2k2|1 year ago
Veen|1 year ago
tjpnz|1 year ago
a1j9o94|1 year ago
https://itep.org/kamala-harris-donald-trump-tax-plans/
EricDeb|1 year ago
jampekka|1 year ago
Urahandystar|1 year ago
theshrike79|1 year ago
fny|1 year ago
astrange|1 year ago
https://recruitonomics.com/the-unexpected-wage-compression/
(Note this is about wage inequality, which strictly speaking isn't income inequality. The best policy for income inequality would be bringing back the expanded CTC.)
But the median voter doesn't actually like this, because they have above-median income due to being older, and this means service workers got more expensive.
ruthmarx|1 year ago
[deleted]
j-krieger|1 year ago
Do people not understand this?
andy_ppp|1 year ago
astrange|1 year ago
1. importing your inputs becomes more expensive.
2. other countries will impose retaliatory tariffs on your exports.
This is not how to do economic development; Asian countries instead used export promotion. (…And wage suppression and currency weakening.)
tomrod|1 year ago
redeux|1 year ago