They have to pay the same as anyone else buying material things. The issue is that if a person worth a billion has to buy a phone that cost $1,000 but is now $1,800 thanks to tariffs it’s probably not even on their radar. If your household makes $80k a year that phone is a measurable and significant expense that will probably be postponed or avoided altogether. Now add up all the other consumer items that will go up thanks to tariffs.
As usual, the point being that the rich are far, far, less affected by price fluctuations than the average family in the US even if they have to pay the same tariff.
Funny that trump is trying to get rid of regulation, oversight, and accountability.
Funny how he prefers tariffs over taxes so he and his rich buddies don’t have to pay out more from their end.
They have to pay the same as anyone else buying material things. The issue is that if a person worth a billion has to buy a phone that cost $1,000 but is now $1,800 thanks to tariffs it’s probably not even on their radar. If your household makes $80k a year that phone is a measurable and significant expense that will probably be postponed or avoided altogether. Now add up all the other consumer items that will go up thanks to tariffs.
As usual, the point being that the rich are far, far, less affected by price fluctuations than the average family in the US even if they have to pay the same tariff.