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> Why Trump isn't good for poor working class America - Assuming there's a large tax on every good coming into the country, then the cost of groceries will incr
by etangent 10y ago
> Why Trump isn't good for poor working class America - Assuming there's a large tax on every good coming into the country, then the cost of groceries will increase dramatically. The cost of cars will increase. The cost of consumer electronics will increase. The cost of many goods that Americans buy will increase and that will most directly affect the poor.
You're confusing median-income consumers with median-income producers. The latter will benefit from increased prices if the product is made at home, by them.
> Why Trump isn't good for business - Many American companies source their parts from other countries. Increased tariffs and taxes impact their bottom line. Trump wants American companies to hire American and is willing to enforce it. American workers have a higher minimum wage. This also affects the bottom line.
On the other hand, there is now less red tape to get domestic projects done. It goes both ways.
> Why Trump isn't good for the rich - If businesses are impacted then investments should decline, but if you've seen The Big Short, then it's possible that we could just have a fraudulent, unpredictable market instead. The huge tax cut should also benefit the rich, so actually, Trump does seem great for the rich.
Apparently the stock market disagrees about the decline in investment. Fraudulent market is possible under any president.