- cross-posted to:
- news@lemmy.world
- cross-posted to:
- news@lemmy.world
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.
I thought DOGE saved taxpayer money. Since the cost of government spending is lower, taxes should be lowered. This Trump and Elon are scammers.
Wait you mean this guys don’t actually create value?! OMG this whole time!
Only if you make over 360k a year and above.
It saves it for distribution to billionaires.