cross-posted from: https://lemmit.online/post/5566633
This is an automated archive made by the Lemmit Bot.
The original was posted on /r/todayilearned by /u/MechCADdie on 2025-04-04 08:19:11+00:00.
cross-posted from: https://lemmit.online/post/5566633
This is an automated archive made by the Lemmit Bot.
The original was posted on /r/todayilearned by /u/MechCADdie on 2025-04-04 08:19:11+00:00.
No, it’s not saying people living paycheck-to-paycheck won’t be affected. I think the point is - scary threat isn’t scary, because such people already feel the constant threat of poverty every day. Being regularly pumped full of cortisol over worries of simply surviving, there are no fucks left to give when additional threats are piled on.
Tariff is a consumption tax. The poorest spends most of their income on consumption like groceries, clothing, car parts, etc. The price of all of that is going up.
Next stockmarket wipeout reduces wealth of middle class the most, who in turn reduces spending on services that employee working class people.
Poorest always gets hit the hardest in any negative economic event because they are poor.