The understanding of a political decision empowers you to make an informed choice at the ballot box.

The understanding of a political decision empowers you to make an informed choice at the ballot box. Just as you would carefully choose the ingredients for a recipe to ensure a delicious outcome, it's equally important for you to understand the ingredients of a political decision, such as tariffs. This understanding empowers you to make an informed choice at the ballot box, influencing the direction of your country's economic policies. Tariffs: Governments impose tariffs on goods and services imported from other countries. The primary purposes of tariffs are to raise government revenue, protect domestic industries, and exert political leverage. However, the effects of tariffs can be concerning. They can make imported goods more expensive, potentially leading to higher consumer prices and trade disputes. On the other hand, they also encourage consumers to buy domestic products. Here is a more straightforward example: a company called XYZ imports a toy worth $5.00 from China with additional costs until it reaches your hand. Additional costs include packaging, transportation, import tax, delivery to your local stores, unpacking, shelving, advertising, etc. So, by the time this $5,00 toy gets on the shelf for sale by the retailer, it has already cost, give or take, $10.00. Add to it the profit the retailer has to make on that toy; at least 30% of the toy now costs you $13.00 to buy. If we add a 10% tariff on the toy, it is an additional 50 cents for each toy, and if we add 20%, it will be an extra $1.00 on that $5.00 toy, but wait. your cost will be more, and here is why. The retailer's actual cost with the 20% tariff is no longer $10.00; it is $11.00, so adding the profit margin of 30%, your price will be $13.30. So you paid $1.30 more because of the 20% tariff. This concept applies to a wide range of goods, from electronics to clothing, and even food items. Marc Boyajian, author of 'The Immigrant,' #books #americandream #America #men #theimmigrant #women #man #woman #everyone #reader #book #immigrant #reading #bookworm #bookish #booktoker #bookclub #writer #immigration #immigrants @followers @highlight #sharethispost #like #share https://tinyurl.com/yn8opdhj