Ramit Sethi argues that money is political, not just personal. He says Trump's proposed tariffs will effectively tax average families roughly $2,500 per year by raising prices on imported goods, and that health care, housing, and college costs are political choices that harm the poor and middle class.
It's amazing how many people tell me to stick to finance when I talk about how money is deeply political. Money is political in the way that your health care is expensive because of politics. Housing is expensive because of politics. That's a political choice that America made to keep your housing expensive. College is expensive for political reasons. And of course, the market has dropped dramatically because of political reasons. Basically, what Trump did was he said, we have this amazing economy. And we did. We had an amazing economy under Biden. It recovered better than any developed country. Record low inflation, record low unemployment, low wage earners were earning record gains. And he said, I need to put my market and say to fuck shit up. And what he did was he radicalized his entire base and told them that the economy was horrible. And so you heard them complaining about egg and stuff like that. And of course there was inflation, but there was inflation in every country. And then he came up with this idea to do tariffs. And one of the best theories I've seen about it is he wants to institute tariffs so that he can then get certain industries to pay him to make exceptions. Basically setting up a structure for him to receive lives. Makes perfect sense. He's already done this with lots of other people and industries. This is basically a tax on the poor and middle class. And so it's amazing to watch the mental gymnastics of Magas, who for years have said, eggs are too expensive, inflation is high. Tariffs will now cost the average family over $2,500 a year. That's everything. More expensive because almost everything is made abroad. Eyeglasses, paper towels, coffee, cars, computers, all of them food. But what's amazing is Washington and my Twitter chat where they say, I don't mind paying a little more if you have stability. Funny, I bet you didn't say that in the last administration.
