Trump's $100 billion tariff refund skips the people who paid higher prices
The refunds go to importers. The checkout receipts stay with shoppers.
Grandpa Pudding Brains collected $166 billion in tariffs under a law the Supreme Court says does not authorize tariffs. The government has now returned $100 billion of it, but the refund doesn't reach the folks who paid higher prices.
The Orange Menace claimed tariffs are a machine for restoring factories, winning trade wars and shrinking the federal deficit. The deficit has now reached a record $1.37 trillion during the first nine months of the fiscal year, up 2% from the same period last year. Mr. Dumb has a B's tariff machine; meanwhile, runs backward.
He didn't learn a thing, either. Last month Trump slapped fresh tariffs on more than 80 countries to replace the ones the court killed, and now 25 states are suing him over those too, calling them a thinly veiled pretext for the taxes he already lost. New York Attorney General Letitia James said it plain, that Trump is "once again trying to illegally raise taxes on families and businesses." You've been footing the bill for a scheme the courts keep throwing out. That's your money, and it was never his to take.
The refunds go to importers. The checkout receipts stay with shoppers.