The ‘we’ that will be fine are the people with high incomes and high valued investments. Tariffs are a consumption tax. Trump wants to replacing income and property tax with a consumption tax. If you don’t have a good steady income stream or significant investments, you will be hurt bad. For those on Social Security that think Trump will protect them he won’t. According to them, Social Security is a Ponzi scheme. if the costs of basic needs go up by 15% I don’t think you’re gonna see Social Security increase that much, they want fewer people on it spending less, not higher costs. Your cost of living will be probably be half of what it needs to be. . Granny gonna have to get a job.
It’s pretty basic math to see that poor people spend a much higher percent of their money on underwear, socks, and food. When those go up by 20% they’re gonna hurt those that already live paycheck to paycheck.
Wealthy people regularly consume far lower percent of their income and value. Poor probably spend up to 30 or 40% of their income on such consumption things. Very rich probably four or five% if that. The people with 1 million shares here maybe spend10 to 10 to 15 %. I expect to pay less in tax than I pay now on my income and property. I will be fine. But America should help those trying to get ahead, not screw them
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