Trump’s tariffs will be paid by the poor – while his tax cuts help the rich

News Snapshot:

Donald Trump apparently believes his tariffs will bring so much money to the US treasury that the US will be able to afford another giant Trump tax cut. But Trump’s tariffs – and the retaliatory tariffs already being imposed on American exports by the nation’s trading partners – will be paid largely by the American working class and poor. And the people who will benefit most from another giant Trump tax cut are America’s wealthy. It will be a giant upward transfer of wealth. Trump has made astronomical estimates about how much money tariffs can raise. “We will take in...