3 ms·

The context of the quote thus. First we argue that tariffs will bear no harm for the American people and when people plainly see prices going we change tack an

The context of the quote thus. First we argue that tariffs will bear no harm for the American people and when people plainly see prices going we change tack and argue that Americans not only should bear the pain of the tariffs in order to achieve the largely entirely imaginary gains but that they can do so merely by sacrificing unnecessary luxury. The problem is that each economic segment of society lives a live entirely different from the ones above it and the bottom half shall not be sacrificing luxuries and the US shall not be stronger for it.

Tadpole9181 1y ago
One of the candidates for Powell's replacement even said we shouldn't ask for raises, since tariffs are "one time" in a recent interview.
mc32 1y ago
It can take a while but here is the issue. Importing cheap clothing allows people to have 30 shirts in their closet; however, on the flipside, people working as seamsters and seamstresses lose their jobs. That can mean taking lesser jobs at lesser pay and fewer benefits or leaving the labor market altogether. Underemployed or unemployed people get subsidized and that requires taxes. So the money we saved that allow us to buy cheap clothing also comes with paying more taxes. We'd have a better society with gainfully employed people while wearing more durable clothing with less impact on the environment.
- michaelmrose 1y ago
  But we aren't actually doing that because consumer preferences and supply chains are pretty sticky. If it costs $5 for cheap insert country here and $10 for cheap American crap worse than the 5 then 8 for cheap stuff in some other poor country with a better trade deal and $20 for good American stuff almost none of your market moves to the 20 stuff and almost all of it shifts to the $8
  - mc32 1y ago
    We don't and should not buy cheap crap made abroad or at home. There are still clothing manufacturers in the US (and Japan), who make quality but more expensive clothing. Instead of a $30 "throwaway" hoodie, you get a $140 hoodie that lasts. It'll last longer and it can employ your neighbor instead of letting them become meth heads due to being laid of as a seamster or seamstress, etc. It's a better quality of life for everyone.
    - michaelmrose 1y ago
      Should is very nearly irrelevant besides actuality

Tadpole9181 1y ago

One of the candidates for Powell's replacement even said we shouldn't ask for raises, since tariffs are "one time" in a recent interview.

mc32 1y ago

It can take a while but here is the issue. Importing cheap clothing allows people to have 30 shirts in their closet; however, on the flipside, people working as seamsters and seamstresses lose their jobs. That can mean taking lesser jobs at lesser pay and fewer benefits or leaving the labor market altogether. Underemployed or unemployed people get subsidized and that requires taxes. So the money we saved that allow us to buy cheap clothing also comes with paying more taxes. We'd have a better society with gainfully employed people while wearing more durable clothing with less impact on the environment.

michaelmrose 1y ago
But we aren't actually doing that because consumer preferences and supply chains are pretty sticky. If it costs $5 for cheap insert country here and $10 for cheap American crap worse than the 5 then 8 for cheap stuff in some other poor country with a better trade deal and $20 for good American stuff almost none of your market moves to the 20 stuff and almost all of it shifts to the $8
- mc32 1y ago
  We don't and should not buy cheap crap made abroad or at home. There are still clothing manufacturers in the US (and Japan), who make quality but more expensive clothing. Instead of a $30 "throwaway" hoodie, you get a $140 hoodie that lasts. It'll last longer and it can employ your neighbor instead of letting them become meth heads due to being laid of as a seamster or seamstress, etc. It's a better quality of life for everyone.
  - michaelmrose 1y ago
    Should is very nearly irrelevant besides actuality