Really?

When we had big clothing industries, if you go back to the 1950s and '60s and '70s, people who were making silk shirts and patent leather shoes and, you know, snakeskin purses, companies that make those sorts of things didn't really care much about what the tariff rate would be because they weren't competing on price with foreign rivals.

Can I ask about that? Why is it that lower income people buy more stuff? Like, don't rich people also need f- food and clothing and materials?

Uh, yeah.

Rich people spend more in, in dollar terms than poor peopleBut the money that wealthy people spend is much more likely to go to vacations and education and entertainment, and poor people typically have less money for those things.

So it's going to hit the poor people harder.