With round 5 of NAFTA negotiations behind us, Americans can begin to look forward to round 6 in Montreal in the second half of January.
While all Americans stand to benefit from free trade, we must not lose sight of who has the most to lose.
Tariffs are just taxes on Americans by another name. However, some Americans shoulder a larger burden under protectionism than others.
Unlike our progressive income tax, taxes on imports (tariffs) are regressive and take a bigger percentage of income from poor families. Lower-income individuals and families thus may bear a significant burden from tariffs, while those of more comfortable means are not as affected.
http://dailysignal.com/2017/12/15/how-tariffs-and-regressive-trade-policies-hurt-the-poor/?utm_source=facebook&utm_medium=social&utm_campaign=tds-fb
While all Americans stand to benefit from free trade, we must not lose sight of who has the most to lose.
Tariffs are just taxes on Americans by another name. However, some Americans shoulder a larger burden under protectionism than others.
Unlike our progressive income tax, taxes on imports (tariffs) are regressive and take a bigger percentage of income from poor families. Lower-income individuals and families thus may bear a significant burden from tariffs, while those of more comfortable means are not as affected.
http://dailysignal.com/2017/12/15/how-tariffs-and-regressive-trade-policies-hurt-the-poor/?utm_source=facebook&utm_medium=social&utm_campaign=tds-fb
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