Trump drops support for a border tax

NY Times:

Trump Is Said to Abandon Contentious Border Tax on Imports

The proposal was to be part of changes in tax law, but was scuttled, people briefed on the matter said, after complaints by big businesses like Walmart and Toyota.
I have been saying this was a bad idea since it was first raised and I am no Walmart of Toyota.  In fact, neither of these companies would actually be paying the taxes, they would only be collecting them from customers like me. It is a tax that would lower most people's standard of living by something close to 20 percent.  Where these companies would be hurt by the tax is that they would have fewer customers for their goods because of the tax.


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