Phil Magness(@PhilWMagness):Did you not even bother reading the thread? It says that, in addition to incurring direct incidence from tariffs, low-income households in particular changed their spending habits to cheaper goods because they lack the slack to absorb tariffs.

Phil Magness

@PhilWMagness

Economic historian @independentinst. Opinions = my own. Co-author of the most comprehensive study ever done on the question of "what is neoliberalism?"

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Phil Magness@PhilWMagness

2026.08.30 01:18

Did you not even bother reading the thread? It says that, in addition to incurring direct incidence from tariffs, low-income households in particular changed their spending habits to cheaper goods because they lack the slack to absorb tariffs.