O’Leary: A tariff is an input cost… what we're doing here is self-imposed. But it's not entirely crazy… Most countries on Earth have what's called a value added tax, a consumption tax. We don't apply that here in America because it's very unpopular as an idea. This tariff is... exactly that. It's a consumption tax. It's called something else. It's kind of interesting. That's how it's happened.show more

Those countries also provide healthcare and education to their citizens. Meanwhile we get these tariffs AND cuts to healthcare.

The U.S. photovoltaic energy sector is booming, and @ACCIONAEnergia is at the forefront! 🌞 With over 2 million solar panels across an area bigger than 1,600 football fields, we're tackling the biggest challenge in our 30 years in renewables ⚡⬇️

I’m sick of Rich people getting on TV, regarding tariffs and telling us all just to “suck it up“

A value added tax and a tariff tax are completely different things. A VAT tax applies to domestic goods, and it's a kind of tiered sales tax where the tax is paid on each level of production. It's a regressive tax, and I don't like them but it's not the same thing in any way, and I have no idea why this dude is rambling on about them.

VAT is more like a sales tax, applied to foreign and domestic products, whereas a tariff is a tax on imports. Forty-five states already have sales tax, and now there is the tax from tariffs as well. But at least we're no longer pretending that a tariff isn't a tax on the American people.

O’Leary admits it’s a VAT, but hey, as long as you feel patriotic while getting fleeced, it’s fine, right?

There is no VAT in the USA. U.S. state sales and use tax rates vary between 2.9% and 7.25% (So they want us to pay at least another 10-30% on top of this)

I don’t see any value added. Just empty shelves, higher costs, and job losses.

The mental gymnastics here is crazy

I'll never understand why a billionaire thinks he can try to explain and justify a tax increase on the rest of us.

Democrats are stupid.