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What's the basis for concluding that is was extracted from US consumers? Is there good data on tax incidence for this situation?
by tiahura 2mo ago
What's the basis for concluding that is was extracted from US consumers? Is there good data on tax incidence for this situation?
- tocs3 2mo agoThe notion (right or wrong) is that consumers payed for the tariffs. Target may have not passed on the cost at the time but they still made a $1B profit. Now they are getting $1B on top of that. The consumers that might have payed lower prices (Target could have lowered prices if the tariffs were not in effect) do not get any kind of refund.
- bediger4000 2mo agoThat's a good point. We were assured that lots of companies were "eating the tariffs", and cutting profits, or even running in the red temporarily to keep consumer prices from rising. That was notable in contrast to 2021-2024, when companies passed all expense increases along as fast as they could.