I know many poor people. Often, they buy the brand they have always bought, even when there are lower priced alternatives of equal or higher quality.
Buyer psychology is highly complex and often sees buyers making a purchase decision against their best interest. This behavior often carries over to their political and life style decisions as well.
So in other words, the tariffs have raised prices enough that you switch from what you really want to an inferior (but still serviceable) substitute due to the price difference.
Yep, thatâs EXACTLY what tariffs are designed to do. But I have a hard time seeing this as a benefit for the consumer at any level.
It isnât and it wonât. Tariffs are a very small part of government intake and will continue to be a very small part of government intake. It was meant to pay down our debt quickly, but then again we were going to stop world escalations within a day. Howâs that going?
If those poor people are buying brand name things they donât need, those people are not truly poor. You are so privileged that those are the only poor you know â people who simply earn or own less than you. The truly poor do not spend on things they cannot afford. They are at the bottom rungs and they are scrimping and saving. This is coming from someone who came from poverty. You have no idea.
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