16 Feb Cramer: A Border Tax Would Hurt President Trump’s Voters
Does the President want a regressive tax that will hit the people who voted for him squarely in the jaw?
It almost seems like the Republican party is goading him into going for the most regressive tax I can imagine, a border tax. It would crush the ability of a company like Walmart (WMT) or Dollar Tree (DLTR) or Gap (GPS) or J.C. Penney (JCP) to pass on the savings of foreign-made goods — which is why they use that supply chain in the first place — to the people who are underemployed or are unemployed and disenfranchised, who became his base in so many states that voted for him.
That’s why I think this meeting today is so important. How can he meet with these execs and say no to them? How can he meet with the CEO of Target (TGT) , which provides luxury for less to the people who most need it, with the sop being a potentially strong dollar, which will only serve to drive more business out of the United States, or cause more plants to be built overseas?