Let's talk about Trump's quiet tax on American households.... - Belle of the Ranch

[TexasTowelie]

Well, howdy there Internet people. It's Belle again. So, today we're going to talk about Trump's quiet tax on American households.

The Nonpartisan Tax Foundation released their analysis of how much the average US household paid extra due to Trump's tariffs along with their projection for next year. Want to hear the bit that's probably going to become an often-repeated phrase during the campaign? The analysis said that, "The Trump tariffs are the largest US tax increase as a percent of GDP since 1993.”

In the midst of an affordability crisis, that line is going to be in so many campaign speeches. Trump the tax man because of his tariffs and their downstream effects hitting everything from furniture to electricity to shoes. He'll tax your seat. He'll tax the heat. He'll tax your feet.

It says they'll generate about $2 trillion in revenue from 2026 to 2035 on a conventional basis and reduce US GDP by 0.5%. That's before they take into effect the negative consequences of other countries responding to his tariffs. Then the revenue drops to $1.6 trillion. Here's another bit you're likely to hear repeated, “The Trump tariffs threaten to offset much of the economic benefits of the new tax cuts while falling short of paying for them. I feel like somebody said that was going to be how this worked out.

So, now on to the obvious question. How much will the biggest tax increase in more than 30 years affect your wallet? Well, according to their estimate, he already took a 1,000 bucks out of the budget of the average household last year, and it'll just get worse in 2026.

"The Trump tariffs amount to an average tax increase per US household of $1,000 in 2025 and $1,300 in 2026." Be thankful he doesn't take it all. This news coming out while people are finding out that no tax on overtime doesn't actually mean no tax on overtime and the only people who actually got what the rhetoric said they would were the rich.

For those who asked about why it works the way it does, I'd ask what you expected. Trump isn't working class. He's owner class. He doesn't think of overtime as the time worked over 40 hours. He thinks of it as the extra pay he has to pay the worker bees. That's why your no tax on overtime only applies to the half part of time and a half.

The bad part is that even after he jacked up what you have to pay, he's still promising more tariffs anytime he gets mad at another country. Every time he does that, just add it to the amount he's already sucking out of your wallet.

Anyway, it's just a thought. Y'all have a good day.

[bucolic_frolic]

1. She's built admirable creds, and that video seems a new political edge

If you have political capital with voters, now's the time to start spending it.