Cohn: Poor People End Up Paying a Disproportionate Percentage of the Tariffs, Because They Spend 100% of Their Paychecks
‘The tariffs are going to affect the poorer people more’
EXCERPT:
COHN: “— because they spend 100 percent of their paychecks on goods. So they’re going to Walmart. They’re going to their stores. They’re buying goods with their paycheck. Wealthier people send a — save a bigger percentage of their paycheck. So, the tariffs are going to affect the poorer people more.”
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