President Donald Trump’s sweeping tariff plan would cut deficits by $2.8 trillion over a 10-year period while shrinking the economy, raising the inflation rate and reducing the purchasing power of households overall.

AP burying the lede here…

“President Donald Trump’s sweeping tariff plan would cut deficits by $2.8 trillion over a 10-year period while shrinking the economy, raising the inflation rate and reducing the purchasing power of households overall, according to an analysis released Wednesday by the Congressional Budget Office.”

  • Greyghoster@aussie.zone
    2·
    3 days ago

    I suppose that the tariffs could be seen as an income or consumption tax. Politicians have a devil of a time raising taxes as the voters don’t like them and neither do billionaires. Taxing imports maybe a substitute. Gotta get money from somewhere, even if crashing the economy causes pain.