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FakeNoose

(37,242 posts)

6. I'm not understanding how tariffs benefit the ultra-wealthy?

Reply to Passages (Original post)

Sat Apr 5, 2025, 01:29 PM

Apr 5

Don't the billionaires (American oligarchs) have to pay the same "tariffs" that we all have to pay?

I can see that billionaires will take advantage by raising retail prices on their products, even the ones that aren't affected by tariffs. That's what will drive up inflation across the board.

The same thing happened in the 1970s when the price of gasoline suddenly sky-rocketed after the OPEC oil embargoes. In no-time-flat Americans were paying higher prices for EVERYTHING, not just gasoline-related products, and it's going to happen again in the next couple months because of tariffs.

Ultra-wealthy Americans who have their own yachts and private jets are going to find out how unwelcome they are in other countries. That will be another unforeseen fallout from all of this.

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Highlight:

Trump's 'All Tariff' Proposal is Class War for the Rich [View all] Passages Apr 5 OP

IOW, wealth redistribution to the wealthy. no_hypocrisy Apr 5 #1

Won't do the wealthy a bit of good if enough people start taking potshots at them. cstanleytech Apr 5 #9

Very regressive tax. Replace it with a multigraincracker Apr 5 #2

No, just go back to pre Reagan ...... NGeorgian Apr 5 #3

The rich will spend to get tax breaks again. multigraincracker Apr 5 #5

The stock market crash affects rich people more than ordinary people, particularly those with inherited wealth. Martin68 Apr 5 #4

I'm not understanding how tariffs benefit the ultra-wealthy? FakeNoose Apr 5 #6

Yep. They'll be fine. Passages Apr 5 #8

The poor and working class will lose a lot or everything, the rich will lose very little if anything, and dalton99a Apr 5 #7

This aspect of it becomes clearer GenThePerservering Apr 5 #10

So are the Rethuglicans in Congress going to do something? mdbl Apr 5 #11

Latest Discussions»Editorials & Other Articles»Trump's 'All Tariff' Prop...»Reply #6