Why Trumps trade plan could be a tax on the poor-working class and single women....

[riversedge]

everyday it gets worse.




Why Trump’s trade plan could be a tax on the poor

https://www.washingtonpost.com/news/wonk/wp/2017/01/13/trumps-trade-plan-could-be-a-tax-on-the-poor-study-shows/?hpid=hp_hp-cards_hp-card-business%3Ahomepage%2Fcard&utm_term=.288e0fee9a59



By Ana Swanson January 13 at 6:30 AM

(Michael S. Williamson/The Washington Post)

President-elect Donald Trump often argues that competition from China has hurt America’s working class. Economists broadly agree — a widely cited paper published last year found that growing imports from China between 1999 and 2011 cost 2.4 million American jobs, with roughly 1 million in manufacturing.

Yet Trump’s proposed plan to get tough on China — which involves tariffs, additional taxes that are placed on imported goods to make American-made products more competitive — could easily hurt America’s working class as well. A study published Thursday by the Council of Economic Advisers, a group of economists appointed by President Obama, demonstrates how tariffs place a heavier burden on poorer people, especially working-class families and single parents...........................................




................Still, working families and women especially appear to have lost out in those decades of trade negotiations. When it comes to clothes, including suits, sweaters, sportswear, pants and undergarments, women’s goods are currently subject to far higher tariffs than men’s, the study shows. Men’s suits face a tariff of 14 percent, for example, while women’s suits are taxed at 23 percent. Tampons and diapers are also subject to heavy tariffs..............................



..............If tariffs do go into place, they would likely place a heavier burden on poorer people, as the CEA study suggests. That’s in part because spending on tradable goods — the kind of products that would be taxed under a tariff, such as food and apparel — make up a larger proportion of the overall spending of poorer households, as past economic research shows.

The new study looks at tariffs that are already in place in the United States, collecting more than $33 billion a year. For their analysis, the economists match tariffs collected by U.S. Customs and Border Patrol with 381 categories of goods that people report buying in surveys done by the Bureau of Labor Statistics. Their calculation looks just at final goods, not at the effect of higher tariffs on intermediate inputs.

[Wellstone ruled]

1. Once these Tariff's

are placed,yes,inflation kicks in and as usual,the working poor get hammered first. Everyone will feel the economic pain. And if one thinks these so called overseas jobs are coming back to the USA,for get abut it. We simply do not have a Mobile enough labor pool and that will make the Anti-Imagination moot.

[Yo_Mama_Been_Loggin]

2. And I'm sure he doesn't give a fuck