Tariffs:
Seeking perspective, I just spent an hour taking a worst case example on a hyper-common item.
A cup of coffee on the streets of New York City or Philadelphia, with beans coming from the nation with the highest tariffs of any coffee supplier, Vietnam.
Boiling down costs at every level and determining at which point tariffs are taken, and then translating that into a 16 ounce cup of coffee, the impact works out to be a *maximum* of 18 cents per cup. To put the perspective into perspective, that state and local taxes on that cup of coffee are 44 cents.
No, I do not care to take thirty minutes writing up how I figured that out. The info is there for anyone who cares enough to look.
Stocks:
Grok: Data from the Federal Reserve shows that the top 10% of Americans by wealth hold about 93% of all U.S. household stock market wealth as of late 2023. Within that, the top 1% alone own around 54% of the total stock value. If we zoom out a bit, the bottom 50% of Americans—half the population—own less than 1% of the stock market’s total value. So, "most" of the stock (let’s say over 50%) is controlled by a tiny sliver of the population, specifically the top 1%, which equates to about 3.3 million people out of roughly 330 million Americans.
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