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Notes -
I would think the problem here is that luxury goods are substitutable whereas cheap goods are not, not for domestic production anyway. America does produce luxury cars which the rich can buy (though this won't even necessarily increase demand for American products because they will become proportionately less competitive abroad to the foreign rich), but there is no possible way for domestic products to compete on price for cheap consumer goods, so consumers will just have to eat the extra cost.
In any case none of this matters because the base assumption is just false. All deciles spend a very similar proportion of their income on imported goods. This does mean the top deciles will spend more in dollars on imports, but (obviously) the SoL impact will be much greater on the lower deciles which can't afford to take the hit - the distributional impact will be similar to ordinary inflation, except even worse because hourly workers' wages are more responsive to inflation than those of (on average, higher income) salaried workers.
https://www.federalreserve.gov/econres/notes/ifdp-notes/distributional-consequences-of-trade-for-us-consumers-20180403.htm.com
“Proportion” being key here, because 134,000 households are sitting on 44 trillion dollars in wealth.
This depends on where the tariff proceeds go. Your link is broken on my end so I can’t see the figures.
Essentially every decile consumes 10% of their income on imports +/-1% (and I'm not reading the table wrong it's just a funny coincidence the figure is 10%, it used to be all deciles spent 6.5% +/-1%).
Well note it's by income, not by wealth. Post-tax income of the top decile is only about 30% of the total.
Given Trump's track record on distributional policy the chance of anything close to offsetting the disruption via distribution of revenues is near-zero. If reshoring does occur then there will be an increase in price with no concomitant revenue, and in a basically full employment economy it's difficult to see what benefit this reshoring would even have, you're just shifting workers into lower-productivity sectors (since they have been necessarily outcompeted in a freer market by whatever sector they're working in at the moment).
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