Some Trump Voters Already Regret Their Decision Amid Concerns Over Tariffs, Job Cuts, and Rising Cost

[nmmi]

78. Here's a good not-too-long article on the whole tariffs thing

Trump’s tariff plan: Why he’s pushing for them, and how they might end up raising prices, CNBC, 11/8/24
https://www.cnbc.com/2024/11/07/trumps-tariff-plan-how-tariffs-work-why-they-might-increase-prices.html

A summary in my words except where I have an excerpt box -

tRump indicated the tariff revenue collected by the federal government could pay for eliminating some or all of income taxes. But the Tax Foundation found that it wouldn't even be enough to pay for a continuation of the tRump 2017 tax cuts (that are scheduled to go away at the end of 2025). Let alone a full replacement of the income tax, which the Peterson Institute for International Economics called “literally impossible.”

The importing company pays the tax, and generally passes the cost along to consumers (us)

The Peterson Institute for International Economics pegs the yearly cost at $2,600 per household. The Tax Foundation says a 10% universal tariff would increase taxes on U.S. households by $1,253 on average in 2025, and a 20% universal tariff would bump costs by $2,045.

Expect a reaction from other countries that then impose tariffs on U.S. products ... what you end up with is a trade war and higher consumer prices in both the U.S. and in these other countries.

MAGAnomics