Trump Set to Whack US Working Class With Historic $3,000 Tax Hike | Common Dreams
www.commondreams.org
There is an old saying in Washington that if you want to understand politicians, look at what they do, not what they say. On that front there is no ambiguity. The Republican president is imposing big new taxes, and he is doing it in a way that does not require congressional approval.

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.

  • turnipEnglish
    318·
    3 hours ago

    Is taxing his own corporation to generate revenue also a tax on his citizens?

    Edit) What I mean is, are domestic taxes less harmful than tariffs, should domestic corporate taxes also be as low as possible?

      • turnipEnglish
        25·
        3 hours ago

        No need to be hostile, I just hear many people pushing for taxing corporations, and it popped into my head. Why is taxing foreign companies evil but taxing domestic companies good, or are all taxes passed to consumers in the end?

    • 60d@lemmy.caEnglish
      2·
      2 hours ago

      Corporate welfare must end. Welfare for billionaires must also end. That’s your tax dollars at work.

      Here’s an article showing that individuals, not just corporations, get abundant welfare in the hundreds of millions.

      Reason.com