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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THE TRUTH...

is the first thing despots go after. An unwavering commitment to it is probably what draws you to Mother Jones' journalism. And as we're seeing in the US and the world around, authoritarians seek to poison the discourse and the way we relate to each other because they can't stand people coming together around a shared sense of the truth—it's a huge threat to them.

Which is also a pretty great way to describe Mother Jones' mission: People coming together around the truth to hold power accountable.

And right now, we need to raise about $400,000 from our online readers over the next two months to hit our annual goal and make good on that mission. Read more about the information war we find ourselves in and how people-powered, independent reporting can and must rise to the challenge—and please support our team's truth-telling journalism with a donation if you can right now.

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