Just pointing out that Congress has the power. Tariffs are really nothing more than a regressive tax on lower income Americans. We will see how things work out. I suspect that if a Corolla hits 40 grand the R's will not do very well in the midterms. At that point Trump becomes a lame duck.
Rep. Pete Sessions (R-Texas) on Monday said a “tariff is a tax,” a day before the Trump administration’s imposition of “Liberation Day” reciprocal tariffs. In Sessions’s appearance on “CNN News Central,” a Monday opinion piece from The Wall Street Journal’s editorial board was brought up by anchor John Berman.
“In the real economic world, a tariff is a tax. If you raise $600 billion more a year in revenue for the federal government, you are taking that amount away from individuals and businesses in the private economy,” the editorial board wrote in their piece. Sessions agreed with the Journal’s editorial board, saying that his “view is I could’ve written that myself.”
“I’m … a capitalist who believes in lower prices, lower taxes, opportunities,” he added. “The facts of the case are that Donald Trump, now President Trump, and his advisers believe that they see the mathematics across the country, specifically in certain areas.” |
