The Trump Tariff Scam: How You Got Stuck With the Billionaire Tax Bill

Think Trump’s tariffs punished other countries? Think again. You paid more so billionaires could pay less. Here’s how the scam really works.

In this episode, we dive deep into the intricate world of tariffs, focusing specifically on those championed by former President Donald Trump. While Trump has often touted tariffs as a means of punishing other countries and boosting the American economy, the reality paints a different picture.

We break down how these tariffs, aimed at products from countries like Canada, end up acting as hidden taxes for American consumers. Our discussion uses the example of Canadian lumber imports to explain how a 25% tariff increases costs not for the country exporting the goods, but for the US stores and, ultimately, the American public. Listeners will learn how the price hike is passed down to end consumers, resulting in higher costs for everyday items like fences, decks, and houses.

The episode also exposes the double-edged sword of tariffs. The additional revenue collected, which Donald Trump proudly claims reaches over $80 billion, does not funnel into public services like education, infrastructure, or healthcare. Instead, it's used to subsidize the substantial tax cuts given to corporations and billionaires, further widening economic inequality.

Tune in to understand how these financial measures are shaping not only the US economy but also the livelihoods of everyday Americans, revealing the unseen effects of policies that claim to bolster national wealth while burdening its citizens.