“Remember tariffs are a tax, and they’re primarily a consumer tax,” Scaramucci added. It’s “a consumption tax, sort of like a VAT [value-added tax]. And that’s a regressive tax. So what ends up happening is the poor people — it eats up more of their disposable income than any other income group.”
“Tariffs are actually — we’ve had a lot of experience with them. They’re an act of war, to some degree,” Berkshire Hathaway (BRK-B) CEO Warren Buffett said in a new CBS News interview on Sunday.
Capitalists love depressions because that’s their opportunity to buy everything for cheap. Last time the orange shitstain did this, $1 Trillion went from the poor to the rich.
They like recessions not depressions, folks have a tendency to get violent in depressions. Why follow orders when your stomach is empty and there ain’t a roof over their head.