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#WarrenBuffet: “Tariffs Are An Act Of #War”
#Tariffs might be #Trump’s favorite word. To legendary investor Warren Buffett, there is less to be excited about.
“Tariffs are actually — we’ve had a lot of experience with them — they’re an act of war, to some degree,” Buffett said in an interview with CBS that aired on Sunday.
#economy #PersonalFinance #inflation #idiocracy #USpol #law
https://www.cnn.com/2025/03/03/business/warren-buffett-tariffs-trump/index.html
The Berkshire Hathaway CEO & billionaire investor said #tariffs over time serve as a #tax on goods &…raise #prices for #consumers.
“The Tooth Fairy doesn’t pay ‘em!” Buffett said with a laugh.
Tariffs disrupt #trade between countries by raising taxes on imported goods, & those new costs are often passed on to consumers through higher prices. Tariffs are considered…a political cudgel—sometimes used in a #TradeWar — & not an efficient framework for international #trade.
"Truth is defined by the weakest of us who must suffer through it."
SearingTruth
That's because everyone does them wrong, at this point, intentionally, as part of the rich people trophe "tAxEs aRe bAd"... which is - conveniently - never said about sales tax and wage tax.
Consumers will substitute and even if producers move manufacturing it will take years to rebuild