April 27th 2025 “ President Donald Trump suggested Sunday that his sweeping tariffs would help him reduce income taxes for people making less than $200,000 a year, as public anxiety rises over his economic agenda.” “ “When Tariffs cut in, many people’s Income Taxes will be substantially reduced, maybe even completely eliminated. Focus will be on people making less than $200,000 a year,” Trump said Sunday on his Truth Social network.” “… A CBS News poll released Sunday said 69% of Americans believe the Trump administration wasn’t focused enough on lowering prices. Approval of Trump’s handling of the economy in the poll declined to 42% compared with 51% in early March…” “ President Donald Trump’s tariffs would effectively cause a tax increase for low-income families that is more than three times higher than what wealthier Americans would pay, according to an analysis from the Institute on Taxation and Economic Policy...” Bloomberg
Middle class which represents a gigantic number of working class individuals will feel the wrath of tariffs the most. This will slow down consumer spending and create lower gdp and long term recession.
America did not vote for tax cuts for the middle class. We voted to kick out the brown people, start a trade war, and shut down and privatize all government services.
If you believe Trump's promise I can sell you the Golden Gate Bridge at a very cheap price. It is possible that Trump believe his own economic nonsense.
Feel like I got scammed lol. Gov charging me 17K for holding short term treasuries and collecting interest payments on the loan. Never feels like I get any tax cuts. Now have to wire them 17K for loaning them money.
Inflation = a general increase in prices and fall in the purchasing value of money: You don't need demand all you need is for prices to increase. Someone has to pay the taffifs and it will end up being the consumer.