Unbelievably damning results. I don’t see how the CPC can continue to function as a party.

  • cygnusOP
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    24 hours ago

    Tariffs are a tax on residents of the tariffing country, essentially the same as a flat income tax increase on the whole population (i.e. a regressive tax curve, which is deeply un-leftist)

      • cygnusOP
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        23 hours ago

        Of course, but income tax is progressive (rates get higher with income) whereas tariffs result in a flat increase which disproportionately affects the poor because it represents a higher percentage of their income.

        Let’s take cars, for example. If steel tariffs mean that a car costs $500 more than it did before tariffs, that $500 has a far bigger impact on someone who makes $40k a year versus someone who makes $200k. That $500 is borne in full by residents of the country that imposed tariffs, which is why tariffs really only penalize your own people in addition to whatever industry of your trade partners you’re targeting.