Tariffs Are, in Fact, Regressive Taxes |
President Trump's protectionist trade representative, Jamieson Greer, has messed up an economic concept so elementary that either he must be serving up nonsense on purpose -- thereby operating on the assumption that his audience is stupid -- or he is genuinely unfamiliar with basic notions.
When asked to defend Trump's tariffs on the CNBC show Squawk Box, Greer said the following:
But the other piece to keep in mind, too, is that it's not regressive. Most consumption in America is done by the wealthiest people. So the idea that it's somehow regressive is just wrong.
But the other piece to keep in mind, too, is that it's not regressive. Most consumption in America is done by the wealthiest people. So the idea that it's somehow regressive is just wrong.
https://x.com/atrupar/status/2023835280306835574
Greer then repeated the administration line that the tariffs ...