Donald Trump Tax Plans Would Increase Taxes On 95% Of Americans, Analysis Finds The Institute On Taxation and Economic Policy found Trump’s tariff

鬼百合

鬼百合

One day we will wake to his obituary :-)

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.

www.huffpost.com

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.
www.huffpost.com www.huffpost.com

Former President Donald Trump’s domestic policy agenda would amount to a tax increase on the vast majority of American households, according to a new analysis by a D.C. think tank, thanks largely to his proposed tariffs on imported goods.
Trump has called for a host of tax cuts, campaigning on novel ideas to eliminate taxes on workers’ tips and overtime pay, and even to allow homeowners to take unlimited federal deductions for the property taxes they pay to state and local governments.

Those tax breaks, combined with an extension of across-the-board tax rate reductions Trump enacted as president in 2017, would save most households hundreds or thousands of dollars.
“But his proposed tariffs, which would be largely passed onto consumers as increased prices, would more than offset those tax cuts for all income groups outside the richest 5 percent,” the Institute on Taxation and Economic Policy said in an analysis it published on Monday.

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. Only 5% of the wealthiest households would come out ahead under Trump’s plans.

Trump has proposed a 20% tariff on all imported goods and tariffs of 60% or higher on imports from China. A wide range of economists say American consumers would wind up bearing the burden of the tariffs, because even though the government would impose the levy on the companies importing the goods, those companies would in turn jack up their prices in order to offset the cost of the tariffs. That’s why economists sometimes describe the tariff proposal as a national sales tax.
 
NakedHunterBiden said:

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.

www.huffpost.com

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.
www.huffpost.com www.huffpost.com

Former President Donald Trump’s domestic policy agenda would amount to a tax increase on the vast majority of American households, according to a new analysis by a D.C. think tank, thanks largely to his proposed tariffs on imported goods.
Trump has called for a host of tax cuts, campaigning on novel ideas to eliminate taxes on workers’ tips and overtime pay, and even to allow homeowners to take unlimited federal deductions for the property taxes they pay to state and local governments.

Those tax breaks, combined with an extension of across-the-board tax rate reductions Trump enacted as president in 2017, would save most households hundreds or thousands of dollars.
“But his proposed tariffs, which would be largely passed onto consumers as increased prices, would more than offset those tax cuts for all income groups outside the richest 5 percent,” the Institute on Taxation and Economic Policy said in an analysis it published on Monday.

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. Only 5% of the wealthiest households would come out ahead under Trump’s plans.

Trump has proposed a 20% tariff on all imported goods and tariffs of 60% or higher on imports from China. A wide range of economists say American consumers would wind up bearing the burden of the tariffs, because even though the government would impose the levy on the companies importing the goods, those companies would in turn jack up their prices in order to offset the cost of the tariffs. That’s why economists sometimes describe the tariff proposal as a national sales tax.
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The huffpo. LMAO
 
Yakuda said:
Let me ask you a question cum gobbler, does an increase in minimum wage get passed onto consumers?
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Oh look the incel doesn't like the article so now will personally attack me for posting about it. Tell us which point you disagree with and why. You know like adults have conversations. Try it
 

Does increasing the minimum wage lead to higher prices?​


Many business leaders fear that any increase in the minimum wage will be passed on to consumers through price increases thereby slowing spending and economic growth, but that may not be the case. New research shows that the pass-through effect on prices is fleeting and much smaller than previously thought.

In a new Upjohn Institute working paper, Daniel MacDonald and Eric Nilsson, of California State University, Bernardino, advance the literature on price effects of minimum wage increases.

Historically, minimum wage increases were large, one-shot changes imposed with little advance notice for businesses. But many recent state and city-level minimum wage increases have been scheduled to be implemented over time and often are indexed to some measure of price inflation. These small, scheduled minimum wage hikes seem to have smaller effects on prices than large, one-time increases.

By looking at changes in restaurant food pricing during the period of 1978–2015, MacDonald and Nilsson find that prices rose by just 0.36 percent for every 10 percent increase in the minimum wage, which is only about half the size reported in previous studies. They also observe that small minimum wage increases do not lead to higher prices and may actually reduce prices. Furthermore, it is also possible that small minimum wage increases could lead to increased employment in low-wage labor markets.

While federal and state minimum wage increases appear to produce similar results, more research is needed to fully grasp the effects of city minimum-wage raises.

Read The Effects of Increasing the Minimum Wage on Prices: Analyzing the Incidence of Policy Design and Context, by Daniel MacDonald and Eric Nilsson.

Other research on the effects of raising the minimum wage.

Does increasing the minimum wage lead to higher prices? | Research Highlights | Upjohn Institute

This working paper shows by using monthly price series that the pass-through effect is entirely concentrated on the month that the minimum wage change goes into effect, and is much smaller than what the canonical literature has found.
www.upjohn.org www.upjohn.org
 
NakedHunterBiden said:
Oh look the incel doesn't like the article so now will personally attack me for posting about it. Tell us which point you disagree with and why. You know like adults have conversations. Try it
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Of course the shit you assholes want gets passed into consumers. It always does. In your Valhalla of Denmark where everything is "free" every fucking body pays taxes you dimwitted skank
 
Yakuda said:
Of course the shit you assholes want gets passed into consumers. It always does. In your Valhalla of Denmark where everything is "free" every fucking body pays taxes you dimwitted skank
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Weird I missed where I claimed everything would be free.
 

History.. DONALD DUMB AS FUCK IS AGAINST OVER TIME....ONE MORE TIME, AGAINST OVER TIME....I TRIPLE DOG DARE ANY OF HIS NUTS TO DEFEND THIS SHIT!!​

 
So, a Trump hating, Leftist think tank's 'analysis' is published on a Leftist news site (Huffington Post) and somehow, it's gospel...

www.influencewatch.org

Institute on Taxation and Economic Policy - InfluenceWatch

The Institute on Taxation and Economic Policy (ITEP) is a tax and budget policy advocacy group that focuses on state and federal tax policy issues. It holds 501(c)(3) status and is ostensibly non-partisan for tax reasons, though the left-of-center Pew Research Center has described ITEP as a...
www.influencewatch.org www.influencewatch.org

Here's one of their studies that argues taxes aren't "equitable" enough. That is, the rich and corporations need to be more heavily taxed...


Of course, they hate Trump's policies on everything.

I also guess that they have ignored that France tried exactly what they propose and raised taxes on millionaires to confiscatory levels. Nearly 50,000 millionaires in France fled the country and now Macron is finally, after wrecking the economy, admitting that it was a bad policy decision and resending that law while begging millionaires to return to France since their departure badly hurt the economy.
 

Institute on Taxation and Economic Policy (ITEP) – Bias and Credibility​

Institute on Taxation and Economic Policy (ITEP) - Left Center Bias - Liberal -Democrat - Credible

LEFT-CENTER BIAS​

These media sources have a slight to moderate progressive/liberal bias. They often publish factual information that utilizes loaded words (wording that attempts to influence an audience by using appeal to emotion or stereotypes) to favor progressive/liberal causes. These sources are generally trustworthy for information, but may require further investigation. See all Left-Center sources.

  • Overall, we rate the Institute on Taxation and Economic Policy Left-Center biased based on economic policy and High for factual reporting.

Detailed Report​

Bias Rating: LEFT-CENTER
Factual Reporting: HIGH
Country: USA
Press Freedom Rating: MOSTLY FREE
Media Type: Website
Traffic/Popularity: Medium Traffic
MBFC Credibility Rating: HIGH CREDIBILITY


History​

The Institute on Taxation and Economic Policy (ITEP) is a non-profit, non-partisan think tank that works on state and federal tax policy issues. ITEP was founded in 1980, and is a 501(c)(3) tax-exempt organization. ITEP describes its mission as striving to “keep policymakers and the public informed of the effects of current and proposed tax policies on tax fairness, government budgets and sound economic policy.” ITEP is a partner with the left-leaning Citizens for Tax Justice.

Read our profile on United States government and media.
 
So we have trump raising taxes, and alt right posters saying somehow magically that will not raise taxes.
 
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