“Remember tariffs are a tax, and they’re primarily a consumer tax,” Scaramucci added. It’s “a consumption tax, sort of like a VAT [value-added tax]. And that’s a regressive tax. So what ends up happening is the poor people — it eats up more of their disposable income than any other income group.”
“Tariffs are actually — we’ve had a lot of experience with them. They’re an act of war, to some degree,” Berkshire Hathaway (BRK-B) CEO Warren Buffett said in a new CBS News interview on Sunday.
It’s fascinating, because the people behind him are genuine grifters and/or delusional ideologues, he can’t even make proper politics in the interest of capitalists. (Just in the interests of some individual capitalists, against the interests of national capital accumulation).
Capitalists love depressions because that’s their opportunity to buy everything for cheap. Last time the orange shitstain did this, $1 Trillion went from the poor to the rich.
They like recessions not depressions, folks have a tendency to get violent in depressions. Why follow orders when your stomach is empty and there ain’t a roof over their head.
I‘m not convinced that the civil society can put a quick stop this madness, unfortunately. I am very convinced that the capitalists that are not in on the Trump scheme will.