"But the other piece to keep in mind too, is it's not regressive, most consumption in America is done by the wealthiest people, so the idea that it's somehow regressive is just wrong, and by the way Greer said as Kernen joked, A tax on wealthy people, that ought to get unanimous approval in the Hakeem Jeffries House. One would think, but again, these tariffs aren't making their way down to consumers anyway, Greer added."
"Greer's comments came just days after the Federal Reserve Bank of New York released a report finding that nearly 90% of the tariffs economic burden fell on U.S. firms and consumers. Greer's Tuesday comments quickly went viral online and were fact-checked all around. Conservative radio host Erick Erickson shared the clip and wrote, Remember, they told us first that Americans wouldn't be paying these taxes. Now, they're claiming only the rich are getting hurt. And they ignore the disproportionate impact on the poor."
Tariffs were characterized as not regressive, with most consumption concentrated among wealthier households and therefore primarily taxing the affluent rather than lower-income consumers. The position also asserted that tariffs are not being passed through to everyday consumers. A Federal Reserve Bank of New York report found nearly 90% of the tariffs' economic burden fell on U.S. firms and consumers. The claims spread widely online and drew bipartisan criticism and fact-checking. Conservative commentators noted prior assurances that Americans wouldn't pay tariffs and argued that tariffs often impose disproportionate burdens on lower-income households, raising regressivity concerns.
Read at www.mediaite.com
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