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@mrdebo1
This plan appears effective. Might it help address the socioeconomic disparities between high-income, middle-income, and low-income groups?
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Greg 🎩
@gregory-1967
Nah, i guess not
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Greg 🎩
@gregory-1967
There is reason why im saying no
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@mrdebo1
Mind to share with me? It’s a hard nut for me to break
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Greg 🎩
@gregory-1967
Who do tariffs target? Primarily small industries and small businesses, which belong to which class? The middle and lower classes! But who benefits from tax cuts? Definitely the wealthy.
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@mrdebo1
You’re absolutely right man I had a different view about this But I’m kinda confused these tariffs made the US wealthy, switching to income tax kinda ruined everything according to history I think I need to do a study on tariffs tax and income tax
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Greg 🎩
@gregory-1967
When tariffs made America great, the U.S. economy was more inward-focused. However, today, the global economy is like a web, interconnected. Countries, based on the principle of comparative advantage, focus on producing certain goods and aim for mass production at lower costs to create economic and trade advantages. This means that today, countries specialize in producing certain goods and import others because it's cheaper, and domestic producers cannot compete with such high-quality and affordable products. Now, what happens if we impose tariffs? We increase the cost of production, which has a direct impact on industries and household expenses and leads to the collapse of many small businesses. These businesses lose their ability to compete with similar foreign products due to higher production costs, and as a result, they face fundamental problems.
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