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Tariffs will have an larger impact on low income people because they act as a flat tax on goods. There is a certain fixed dollar value that everyone needs to su
by rescripting 1y ago
Tariffs will have an larger impact on low income people because they act as a flat tax on goods. There is a certain fixed dollar value that everyone needs to survive the month, and that value just got larger while income remained the same. When you're poor the smallest increase in cost of living pushes you in to the red.
This is why inflation was such a huge issue. I fail to see how this is any different.
- formerly_proven 1y ago> This is why inflation was such a huge issue. I fail to see how this is any different. This time it's vaguely patriotic to pay more, I guess.