WaPo’s David Lynch: ‘It’s Very Simple ... Tariff Is Simply Another Word for Tax’

RUSH TRANSCRIPT CAPEHART David ░░░░░░░░ first what exactly is ░░░░░░░░ tariff Lynch A tariff ░░░░░░░░ simply another word for ░░░░░░░░ tax If President Elect ░░░░░░░░ follows through with his ░░░░░░░░ and puts a 25 ░░░░░░░░ on goods coming in ░░░░░░░░ Mexico and Canada that ░░░░░░░░ increase the cost of ░░░░░░░░ goods to their American ░░░░░░░░ by 25 Just like ░░░░░░░░ other tax would CAPEHART ░░░░░░░░ 600 increase in prices ░░░░░░░░ household A full screen ░░░░░░░░ some things here A ░░░░░░░░ of jeans before tariffs ░░░░░░░░ 96 after the tariffs ░░░░░░░░ car 50 000 62 ░░░░░░░░ after the tariffs from ░░░░░░░░ consumer technology association Other ░░░░░░░░ that the immediate hit ░░░░░░░░ the wallet what are ░░░░░░░░ potential long term consequences ░░░░░░░░ these proposed tariffs Lynch ░░░░░░░░ the long term it ░░░░░░░░ make the economy less ░░░░░░░░ It would raise costs ░░░░░░░░ would basically be like ░░░░░░░░ sand in the gears ░░░░░░░░ the economic engine that ░░░░░░░░ operate now It would ░░░░░░░░ the total size of ░░░░░░░░ economy our total gross ░░░░░░░░ product smaller than it ░░░░░░░░ might be Now I ░░░░░░░░ say this is the ░░░░░░░░ or main stream economic ░░░░░░░░ of the impact of ░░░░░░░░ President Elect Trump has ░░░░░░░░ different view Always has ░░░░░░░░ He believes or professes ░░░░░░░░ believe that the tariffs ░░░░░░░░ paid exclusively by foreign ░░░░░░░░ That s not the ░░░░░░░░ But that is what ░░░░░░░░ his sales pitch for ░░░░░░░░ the use of tariffs ░░░░░░░░ he believes among other ░░░░░░░░ would promote—“