https://abcnews.go.com/Politics/white-house-nec-director-kevin-hassett-sen-cory/story?id=120499613
Kevin Hassett, Director of the National Economic Council, just now gave George Stephanopoulos an example illustrating how tariffs could benefit consumers:
Kevin’s example:
• A small business (SMB) sells 100 apples at $1 per apple.
• Then, a 10% tariff is introduced.
• If the supplier raises prices, consumers purchase 10% fewer apples.
• Kevin explained, “So what is the small business going to do with these 10 apples? They don’t want to eat them, so they’ll lower the price.”
Implication:
The Trump administration expects the real burden of tariffs to fall on the small businesses themselves.
Unspoken consequence:
What Kevin Hassett did not mention is that the small business may go bankrupt, resulting in all of its employees being laid off.
These people are idiots..
