Trump’s Trade War Taxes Will Cost Middle-Class Families $200-300 This Year

This got me curious:

How much money are we taking in from increased tariffs? Here’s the answer:

There you have it. We appear to be taking in an extra $1-2 billion per month, and it’s going up. This is gross tariffs, of course, and doesn’t count the amount that other countries are taking in from their retaliatory tariffs.

Anyway, tariffs are paid by domestic firms who import stuff, so this is ultimately all a tax on consumer goods. Over the course of the year it will probably amount to a tax increase of about $200-300 per family—maybe more. I hope everyone enjoys paying their share in order to show Canada who’s boss.

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Fact:

In-depth journalism that investigates the powerful takes real money and is so damn important right now.But it doesn’t take a Mother Jones investigation to know that billionaires and corporations will never fund the type of reporting (like they do politicians) we do that exists to help bring about change. Instead, our mission-driven journalism is made possible by people power, and has been for 46 years now since our founding as a non-profit.

In “TITLE TK” Monica Bauerlein writes about the perilous moment we’re in, and why it’s so important that we raise $325,000 by the time November’s midterms are decided so we can be ready to throw everything we have at the big issues facing the nation no matter what happens. Please help MoJo’s people-powered journalism with a donation today.

$400,000 to go!

payment methods

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