October 17: I should add that any type of sales tax, including tariffs, is a regressive tax. The incidence of a regressive tax falls proportionately more on lower-income taxpayers because they pay a higher proportion of their incomes on taxed items. In this case, tariffs on imported food and clothing would be examples of those taxed items. The tariff revenue, paid entirely by consumers, would then be used to fund tax cuts for millionaires. Thus, Trump’s followers would be among those transferring their incomes to the wealthiest in society. Most of the sheep standing in line to be fleeced appear to be wearing red MAGA caps.

Switching gears, let’s consider some stocks and funds. For growth: NCLR, THC, CLS, JD, YELP, FTDR, TZOO, WLDN, PETQ, HRTG, and SKM. For dividends and growth: ENR, SKM, GGHL, HESM, SBGI, AEYE, AMSC, DUOL, MCY, KMPR, TMDX, and HOOD. Over the previous 3 months, the top-performing ETFs were IHF, VFH, XLF, VOE, and XSW. As always, good investing!

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