🚨NEW ANALYSIS🚨- Donald Trump's proposed 60% tariff on Chinese imports would massively raise tax rates but might generate 𝐧𝐨 𝐧𝐞𝐰 𝐫𝐞𝐯𝐞𝐧𝐮𝐞. These tax increases will mostly or entirely 𝑢𝑛𝑝𝑎𝑦 𝑓𝑜𝑟 𝑡ℎ𝑒𝑚𝑠𝑒𝑙𝑣𝑒𝑠! via @BudgetHawks crfb.org/blogs/donald-t…
@MarcGoldwein @BudgetHawks 60% might not raise revenue but 10% certainly would raise revenue.
@MarcGoldwein @BudgetHawks Do these estimates include a likely retaliation from importing countries?
@MarcGoldwein @BudgetHawks I find this interesting from a distribution perspective. Standard TPC/OTA is doing static with no behavior change but I assume a ton of Chinese goods get rerouted through other countries. There’s some cost to that but probably far below 60% rate. Unclear what realistic burden is.
@MarcGoldwein @BudgetHawks This is why you shouldn’t shout policy initiatives that have no basis in reality
@MarcGoldwein @DonFSchneider @BudgetHawks That is why we all also get a National Sales Tax.
@MarcGoldwein @BudgetHawks And they are inflationary too.