Revolution 2.0

Introduction Tariffs are a tax on consumers and businesses, and damage economies. When it costs more to import something, like appliances or smart phones, prices naturally rise. And the price of similar domestically produced items also rises. To date, the relatively modest 10% tariffs added months ago cost the average family almost $800 per year. What will happen if they go to the announced 25%? Tariffs are also a tax on businesses. When it costs more to export goods, fewer will be sold. For example, if a country, either retaliating or simply initiating a tariff, puts a tax (that’s what a tariff is) on American farm goods, the American farmers will be hurt. As they are being hurt now. And the government is subsidizing them to ease tariff pain. That hurts the taxpayers. Apple stock was down 6% on May 13th–a one day drop–due the announced increase in tariffs. (Apple smartphones are made in China.) Now we are hurting shareholders, including public and private pension plans and 401(k) individual ret