Trump's 'Liberation Day' tariffs and America’s other tax problem

Trump's 'Liberation Day' tariffs and America’s other tax problem

As Americans prepare to file their taxes, they should know they’ve already been paying a new one all year — import taxes, better known as tariffs. Despite political rhetoric to the contrary, that’s exactly what tariffs are: a tax on consumption, and a regressive one at that. The Tax Foundation estimates that tariffs amount to an average tax increase of $1,000 per U.S. household in 2025, hitting lower-income families hardest, since they spend a l…

Trump's Tariffs Liberated Americans From Their Wallets: A Video Roundup

Shutterstock, The UnPopulist illustrationOne year ago today, Donald Trump unveiled the most aggressive protectionist agenda the United States has pursued in more than a century. He promised it would make Americans wealthier, return factories to American soil, and bring down the cost of living. It was a fantasy dressed up as policy, and a year’s worth of evidence has thoroughly exposed it as such.Protectionism has always worked the same way, deli…