Wednesday, August 01, 2018

Trump Plans to Announce $500 Tax on All American Households Today

The Wall Street Journal reports:

The White House, looking to ratchet up trade pressure on China, is expected to announced today that it is more than doubling the size of the proposed tariffs to 25% from 10% on $200 billion of Chinese imports, industry sources said.

Well, let’s see: divide by four, carry the one….that’s a $50 billion tax on Chinese goods—and according to the Journal, that’s consumer goods like furniture, lamps, food and computers. That’s about $500 on every household in America.

Read more
https://www.motherjones.com/kevin-drum/2018/08/trump-plans-to-announce-500-tax-on-all-american-households-today/

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