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I'm not an economist, but from my understanding, tarriffs were removed and instead replaced by the income tax. The US government funded itself during the 1800's with tarriffs, but they were removed and replaced with the income tax in 1913. So according to this AI Americans are the primary victims of the tarriffs as they will pay increased cost, on top of a increasing inflation rate well above the 2% they were shooting for.

So Americans will be paying a hidden 1800 century tarrif tax on top of the income tax they also have to pay to the federal government. So in effect this is a double taxation on Americans. Basically everyone's living standard that's not in the top 10% wealth bracket is going to have a 20-25% reduction in their purchasing power and therefore their standard of living.

And instead of using the savings from DOGE to reduce the national debt they are using it to offset the extension of the tax bill for the ultra rich. So billionaires are going to pay a 5% tax rate while the rest of the population pays the regular rate. And those cuts only account for half of the tax cuts so there will still be inflation experienced for the shortfall in the national budget. That gap will be filled by printing more money which will cause the inflation.

So just to make it perfectly simple. The billionaire oligarch rentier owning class wants to consolidate their wealth by fleecing the public and their institutions by about twice as before and potentially cause a market crash to buy more assets even cheaper and further the concentration of wealth at the top and continue the creation of a neo-feudal society run by tech bros and billionaires.

I predicted this. If you go back in my comments. I knew it was going to be bad, but to tax the American public twice is basically plunging 80% of the population into the New Poor status.

The breakdown and implosion of the Chinese economy has also led to the erosion of the brief middle class there who are being wiped out into the New Poor status. Heavily indebted individuals who own nothing and owe very high monthly fees to pay for a mortgage and car loan.

Whatever even happened to reducing the military budget? Instead they added another $100 billion. Isn't that called bait and switch? Make Americans Poor Again. Just like the 19th and 18th century. That should be the new slogan.