"Former President Donald Trump’s domestic policy agenda would amount to a tax increase on the vast majority of American households," HuffPost reports, "according to a new analysis by a D.C. think tank, thanks largely to his proposed tariffs on imported goods." Yes, he's proposing tax cuts, but he's also proposing tariffs, the cost of which are passed onto consumers as increased prices. So: "Taken together, the tax cuts and tariffs would cost households in the middle 20% of the income distribution an average of $1,530 in 2026, the analysis found, while the richest 1% would save $36,320."
Source: Donald Trump Tax Plans Would Increase Taxes On 95% Of Americans, Analysis Finds The Institute On Taxation and Economic Policy found Trump’s tariff proposals would outweigh his tax cuts for all but the very richest households. Arthur Delaney and Dave Jamieson, HuffPost, Oct 7, 2024
Read more on Medium: Rep. Jamie Raskin’s book Unthinkable
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