Saturday, December 14, 2019
ANOTHER MASSIVE TRANSFER OF WEALTH
Trump's tariffs have caused another massive transfer of wealth to the wealthy. The tariffs are paid by the importer who passes it on to the consumers through increased prices. The increased revenue experienced by the Government doesn't last long, it is passed on to growers to compensate for lost markets owing to retaliation for high tariffs imposed on consumer items. Note that it is not the Chinese who are paying the tariffs, it is the American public footing the bill. Most of the recipients of compensation for not growing crops are corporate Agribusiness and not small farmers which continue to go into bankruptcy at a high rate.
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