Explain it to me (sans facts).
Explain it to me (sans facts).
207 comments
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Tariffs are sales tax
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Slight correction: Tariffs are an import tax.
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Technically correct, but most Americans understand how sales taxes work, so calling a tariff a sales tax works as a metaphor to explain tariffs.
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And it basically is a sales tax that's paid by the importer when they purchase the goods. That's generally how I explain it to people.
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it's not a sales tax, it's a tax at import, It's sort an inverse of a sales tax though. a "foreign purchase tax" if you will.
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If theyâve gotten this far while not understanding that then I donât think they will understand that
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207 comments