A proposed 10% tariff on all imports and deep tax cuts for corporations add up to a lot of costs being passed on to American consumers.
, wants Trump to use Alaska’s oil revenue sharing as a model for how to distribute any new tariff revenue. Basically, the idea is to boost the U.S. economy by raising tariffs but then use all the resulting money to offset the costs of raising tariffs. Left unclear is what would be the point of raising the tariffs in the first place.
Even the parts of Trump’s economic plan that are meant to help the rich and prosperous are likely to be kneecapped by his continued refusal to understand how the heck tariffs actually work.
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