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Trump’s Tariffs Have Already Wiped Out Tax Bill Savings for Average Americans

Trump’s Tariffs Have Already Wiped Out Tax Bill Savings for Average Americans

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  • Trade wars are never good for the little guy. Middle class and low income families will suffer most from this folly.

  • I'm not fond of tariffs & I dislike the ones on Mexico because we just reached a deal & it is using the wrong tool for immigration but I see a problem with this story. For all purposes inflation is non existent (<2%) so no cost to consumer yet. I also dislike combining what might be with what is. Clearly

    I'm not fond of tariffs & I dislike the ones on Mexico because we just reached a deal & it is using the wrong tool for immigration but I see a problem with this story. For all purposes inflation is non existent (<2%) so no cost to consumer yet. I also dislike combining what might be with what is. Clearly keep them separate to allow the reader to be informed. We need to know both but a lot of the threat has yet to be applied & may not be. Nobody likes tariffs but we are getting some better agreements because the president plays hardball. That's a first in my 7 decades.

  • Not surprised that Bloomberg fails, as most media, to provide any context for the discussion of tariffs. We had some bad deals and some horrible deals. China was totally screwing us over. We will have some minor pain and inconvenience to get to a far better place. Thank god the president is tackling this horrific problem.

  • This will be good in the long run. Because U.S. based companies are held to a higher standard (employee wage etc.) it's impossible to compete with China's artificially low prices. Yes prices will increase for now, but so will America's manufacturing

  • Not at all a fan of the current strategy with trade wars, but it is not really clear how the tax break to the middle class is related to the tariffs. The article seems to be an appeal to sympathy or fear based upon the wallet of the individual consumer, but the two events are actually mutually exclusive

    Not at all a fan of the current strategy with trade wars, but it is not really clear how the tax break to the middle class is related to the tariffs. The article seems to be an appeal to sympathy or fear based upon the wallet of the individual consumer, but the two events are actually mutually exclusive. Research and analytics firms as well as journalists should make it clear that these are mutually exclusive regardless of the fact that they impact the individual wallet. There are a multitude of issues with current tariff and blacklist disputes, but the biggest issue is not actually consumer pocket, but how it actually impacts the long-term strategic and competitive advantage positions for the United States as a whole. These should be the focus, rather than quasi clickbait to appeal to sympathy or fear.

  • This is a short term indicator which could break the economy leading to lower demand and reduced growth which will eventually become a long term problem. Hope advisors are keeping a watch and take swift actions. We don't want US to start sneezing and bring flu to the whole world. 🙄

  • I have NOT even noticed the difference in prices on the goods nor services I consume or use. Media is the “hype man” of fear and ignorance.

  • Its no shame to have a black box understanding of something. Hopwfully the box contents are a crude approximation of whats going on. But with such colossal ignorance its nothing like whats going on. Ugh.

  • Stupid article, nothing but media hysterics and pro-corporate propaganda. Not surprised it’s coming from Bloomberg, as they cater to businesspeople who only give a damn about quarterly profits and nothing else.

    The impact of tariffs on “average Americans” has been zero. Have you noticed the prices

    Stupid article, nothing but media hysterics and pro-corporate propaganda. Not surprised it’s coming from Bloomberg, as they cater to businesspeople who only give a damn about quarterly profits and nothing else.

    The impact of tariffs on “average Americans” has been zero. Have you noticed the prices of *any* consumer goods increasing recently? (Also, what tax savings are they talking about?) The US is the biggest economy in the world; we don’t actually need access to other labor markets or cheap imports. Fundamentally China needs us more than we need them, and that’s just a cold hard fact.

    Yes, the tariffs are going to inconvenience a whole lot of companies. If that’s the price we have to pay to curtail outsourcing and punish Chinese IP theft, it’s more than worth it. The whole point of the tariffs is (or at least should be) to force American companies to divest from China as much as to stop Chinese companies selling cheap goods in America.

    It’s long past time the US deployed a little bit of protectionism; cheap foreign labor (made cheap by lack of workers’ rights) has destabilized our economy and kept wages stagnant, reducing quality of life for the American working class. Add in the fact that China is an openly-hostile foreign power with a command economy, and tariffs are looking pretty darn reasonable.

  • Tariff war hurts the poor and the countries which involved in it and benefits the rich. Trump is a businessman who born in. 1940s whose mind is out of a bigger picture in 2010s

  • How can allowing hard-working taxpayers to keep more of their earnings be labeled a "windfall"?

    Answer, What is Socialism.

  • Savings are rare these days

  • You talk about tariffs like China or Mexico are going to pay them.

    We are going to pay the tariffs or pay for more expensive products made somewhere else.

    The regular Americans are going to be poorer, but the billionaires are going to be richer...

    We are irrelevant.

    Besides, who is going to invest

    You talk about tariffs like China or Mexico are going to pay them.

    We are going to pay the tariffs or pay for more expensive products made somewhere else.

    The regular Americans are going to be poorer, but the billionaires are going to be richer...

    We are irrelevant.

    Besides, who is going to invest in manufacturing here if today we have a tariff and tomorrow we have another or maybe someone made a deal and the tariffs are gone... but next week tariffs are back.

    I thought Republicans were against big government... at least Reagan was.

  • Anytime an income tax is replaced with a consumption tax, we the middle class benefit most.

  • Tariffs are taxes. Full stop.

    Of course they hurt consumers, regressively.

    We have a horribly unqualified president who is harming Americans and America with his dangerous bully politics.

  • What savings?