- cross-posted to:
- politics@lemmy.world
- cross-posted to:
- politics@lemmy.world
The Institute on Taxation and Economic Policy found Trump’s tariff proposals would outweigh his tax cuts for all but the very richest households.
Former President Donald Trump’s domestic policy agenda would amount to a tax increase on the vast majority of American households, according to a new analysis by a Washington, D.C., think tank, thanks largely to his proposed tariffs on imported goods.
…
“But his proposed tariffs, which would be largely passed onto consumers as increased prices, would more than offset those tax cuts for all income groups outside the richest 5 percent,” the Institute on Taxation and Economic Policy said in an analysis it published on Monday.
Taken together, the tax cuts and tariffs would cost households in the middle 20% of the income distribution an average of $1,530 in 2026, the analysis found, while the richest 1% would save $36,320. Only 5% of the wealthiest households would come out ahead under Trump’s plans.
🗳️ Register to vote: https://vote.gov/
You must log in or register to comment.
GOP voters will happily shovel cash from their own account directly to trump because he hates the same people they hate. it doesn’t even matter that trump hates his supporters just as much
When Trump claims he wants to lower taxes, you’re an idiot if you think it means for you. Unless you are in the 1%.
And just because you make more than most people you know, doesn’t mean you’re in the 1%.Why is it, that every single picture of trump at the podium looks like he’s dropping the greasiest shit, only for it to leak down his pants and pool in his socks?
This is probably why he doesn’t like desantis and his water boots, too much carrying capacity
<squish><squish>
No wonder that fly kept buzzing around that stinky motherfucker.
That is utterly terrible.
And yet his supporters when polled say they like him because he’ll do the best at reducing the cost of living. They probably believe he will reduce their taxes. They live in an information vacuum and only listen to media that tells them lies. No amount of campaigning will overcome this, because it’s the dynamics of a cult, not a political debate.
Huffington Post - News Source Context (Click to view Full Report)
Information for Huffington Post:
MBFC: Left - Credibility: Medium - Factual Reporting: Mixed - United States of America
Wikipedia about this sourceInstitute on Taxation and Economic Policy (ITEP) - News Source Context (Click to view Full Report)
Information for Institute on Taxation and Economic Policy (ITEP):
MBFC: Left-Center - Credibility: High - Factual Reporting: High - United States of America
Wikipedia about this sourceimagine my surprise
