Summary
Donald Trump is poised to impose massive import tariffs on goods from Canada, Mexico, and China, effectively raising taxes on U.S. households by an estimated $3,000 annually.
Unlike past tax increases that targeted the wealthy, these tariffs disproportionately impact low- and middle-income workers.
While Trump claims the measures address immigration and fentanyl concerns, experts argue they serve as a revenue source to offset tax cuts for the rich.
Critics contend that Trump’s tariffs lack a clear industrial strategy and primarily burden American consumers.
If only this could have been seen coming … there were really just no warning signs … I’m tired.
Exactly, I wasn’t so much shocked as I was surprised Harris lost. I mean how can so many people be that dense as to vote for Trump?
Why did biden do this
Thanks, Obam-na
Where is Kamala now? Why doesn’t she do something against this?
Hey that’s my line. Up vote.
Remember, if you see someone stealing food, no you didn’t.
I thought DOGE saved taxpayer money. Since the cost of government spending is lower, taxes should be lowered. This Trump and Elon are scammers if taxes are not lowered.
Only if you make over 360k a year and above.
😂😂😂 Oh boy those MAGA idiots that were complaining about inflation and thought voting for Trump would help them. 🤣🤣🤣
How’s that going for you? 🤡🤡🤡They’d cut off their nose to spite their face. As long as people they don’t like are hurting, they’ll suffer as well. They’ll probably just find a way to blame Biden or Obama again.
If I (someone who makes around $30,000 a year) owes anything CLOSE to 2 grand in federal taxes theyre gonna have to send the IRS after me to collect. 🤷 Sorry dumpy donnie.
You won’t see $2k more in Federal Income Tax, you’ll pay higher prices on store shelves (because of the tariffs the Federal government collected from the importer of the goods, which ultimately get passed on to you the consumer)
And pay $1,540 extr in actual income tax
The burden is coming in the price of goods you purchase not in a tax that is due.
Don’t worry he’s getting rid of half of the irs so there won’t be anyone to enforce tax laws.
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You won’t be paying more taxes, directly. Things will just cost a lot more and you’ll blame foreign companies instead of senseless import taxes that you’re paying. It’s a hidden tax
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The associated pic shows Trump’s mad halotosis.
Trump Set to Whack US Working Class With Historic $2,000 Tax Hike
They updated the article FYI.
Well jokes on you, Republicans will have their tariffs paid for by China, Mexico, and Canada and even better they’re going to be getting a stimulus check for 8K thanks to DOGE.
That’s what Tik Toc tells them and what they know to be true.
I still can’t believe Bidenflation is still happening.
critics are right
“Whack”? Seriously? Jfc.
I recently updated my W4 to have a stupidly high deduction so I pay almost no federal taxes.
I fully realize I’ll owe this (and maybe penalties) later, but that’s a future me problem and, frankly, I plan to delay, deny, and dispose (of the IRS letters) as long as I can without something like jail time.
Calling it a “tax increase” when it’s not is kind of infuriating because it just muddies the conversation. Comparing it to a tax increase is fine but saying it’s “effectively” one is worse than useless - it either confuses people, gives them the wrong idea, or gives them an easy out to say it’s bullshit.
I hate when my side does stuff like this.
A tariff is a sales tax, pure and simple. Sales taxes hit lower income people harder than the rich because they have to put a higher percentage of their income into it.
No average person says “my taxes went up $3000 this year!” referring to anything other than their income tax.
This is the exact water muddying I mentioned. Call things what they are and explain what they mean.
There is zero downside to explaining it correctly:
“Trump’s newest round of tariffs are projected to cost the average citizen $3000 per year”
Same power without the bullshitting. And you don’t have someone looking at their paycheck wondering if it’s taken effect yet.
Nobody is saying that tariffs are income taxes, but I pay a bunch of taxes each year that are not income taxes. I have sales taxes at stores, property taxes a couple times a year, and hidden ones like gas taxes. Now we are going to pay more import taxes so that the ultra rich don’t have to pay as much capital gains. To call them anything else is lying to yourself.
Tell me how telling people their taxes are going to go up $3000 is better than explaining that the tariffs will cause their yearly goods expenses to go up by the same.
This article is for the layman, not someone who understands tariffs. And instead of explaining that, it says “it’s basically the same thing as your taxes going up!”
You’re saying a tariff doesn’t count as a tax because it gets hidden in the final price of goods?
Maybe corporate America will tack on a “tariff fee” like those bs restaurant service fees to tell consumers it’s not their fault.
I’m saying people are going to look for this tax increase they heard about and not find it on their paycheck.
Feel free to tell me the downside of being accurate here.
It would be accurate to call a tariff what it is: a tax. Maybe the downside is ostrich-heads won’t be able to bury their heads in the sand and pretend it’s not a tax.
People are very used to paying taxes that don’t show up on their pay statement. Things like sales tax, property tax.
Tarrifs are a tax, they are going up, and it’s a sales tax which are commonly regressive (hit lower income families more).
