Red-Blue Populist

My goal: abundance for the people.

How the Trump Tariffs Take Your Money to Pay for Super-rich Tax Cuts

WTF!

YUP. That’s the deal. The following example shows how it works..

Step One: You Pay

You buy a puppet from China for the kids. The tariff on the puppet is $10, the cost of the puppet without tariff is $20. The toy store pays the $10 tariff and raises the price of the puppet to $30. You pay $30, $10 of which reimburses the toy store. for the tariff they paid. So at the end of the day you are down $10 and Uncle Sam is up $10.

Step Two The Super-rich get the tax cuts.

Tariffs are expected to cover 4.5 trillion of the 6.5 trillion dollar tax cuts, which from history we know will benefit the super-rich. In my forthcoming book Squeeze I explain why tax cuts are so popular with the super-rich. We can expect that buco bucks will wind up in the wallets of the super-rich.

What you can do. Head them off at the Pass.

Contact Congress: Call after-hours to save time. Leave a message. Tell them no more tax breaks for the super-rich (those with yearly incomes over $2.75 million). Tell them to use the tariff money to shore up Social Security.

Red Alert: Social Security will not be able to pay full benefits in about 10 years.

For more info on big picture go to www.growthemiddleclass.com