Trump tariffs to hit working class the hardest, costing an average family $3,800 a year

[speak easy]

President Donald Trump has plunged the United States into a new phase of his trade war, and this time the economic casualties will be clear, immediate and, for many Americans, painful.

The new levies, combined with other tariffs already implemented this year, will raise costs for the average American family by $3,800, according to a new report by the Yale Budget Lab.

The tariff hit won’t fall evenly across American households: The Budget Lab’s analysis shows the new policy is a textbook example of what’s known as a regressive tax. That is, the tariffs will eat up a larger share of the earnings of lower- and middle-income families than they will for wealthy households.

https://www.marketwatch.com/story/trump-tariffs-to-hit-working-class-the-hardest-costing-an-average-family-3-800-a-year-5bb03f9e?mod=livecoverage_web

[Johnny2X2X]

1. There is nothing in any of this for working people

This is a power play to serve the billionaire class. The American worker is going to end up with nothing, in fact we're going to lose what we have.

[BoRaGard]

2. "Ha ha. Working class suckers and losers. Ha ha." - Krasnov (R-Felon) and GOP Billionaire Bros

Meanwhile, Krasnov and Billionaire Bros will studiously ignore this fact
or lie about it, while they go Gourmet Golfing at our taxpayer expense.

[spanone]

3. As he said, he couldn't care less.

[Bernardo de La Paz]

4. Tariff taxes are regressive: higher effect on Walmart vacuums than on apartment buildings

Apartment building investors don't buy vacuums at Walmart.

[magicarpet]

5. A backdoor scheme to reroute the tax burden,....

.... off the billionaire class on to the middle and lower classes and dump the tax burden entirely in their laps.

They are slicing and dicing the pie so the rich get a much bigger piece for themselves and avoid tax obligations. The income tax will be phased out to be replaced by tariffs and sales/use taxes. Rather than charge income taxes. The Fascists would rather charge a consumption tax. This formula shifts the tax burden onto the poor - which is the intent and purpose - to make gluttony even more accessible to the rich.

[brer cat]

6. This is such a disgrace, republicans

should hang their heads in shame. Of course, they have none.

[speak easy]

7. But the eggs, brer cat, the price of eggs! :sarcasm:

[crud]

8. But Kamala said tariffs would cost the average American

2600 per year...how did she get it so wrong?

https://washingtonstatestandard.com/2024/09/29/taxes-where-do-trump-and-harris-stand/

So how could we know this was gonna happen?

[sakabatou]

9. Who could've predicted this?!

*pretends to be aghast*

[Ping Tung]

10. They should be gratified by the opportunity to sacrifice for their country and leader.

And sing a verse or two of God Bless America while waving flags and wearing red caps.