BREAKING: Donald Trump will drain $1,500 out of the average American household annually, according to a stunning new economic analysis of his policies.
This would be absolutely devastating...
According to an analysis from the Center for American Progress (CAP), the blanket 10% tariff on imported goods that Trump wants to implement would be a historic economic disaster.
Families would be forced to shell out an additional $1,500 a year, which for many is simply impossible.
Just a few of the numbers include:
-$90 more per year spent on food
-$90 on prescription
-$120 on oil and petroleum products
-$220 on automobiles
-$70 on clothes
-$80 on electronics
-$50 on furniture and appliances,
Additionally, the cost of fruit, vegetables, coffee, and seafood would skyrocket. Industrial supplies would become more expensive and the effects would spread throughout the entire economy.
"Middle-income U.S. households—those in the 40th to 60th percentile of the income distribution—consume about 85 percent as much as the average household according to the Consumer Expenditure Surveys, which suggests a roughly $1,500 tax increase for the typical household," CAP said in its report.
The study further states that Trump's tariff would be far more damaging to U.S. consumers and importers than to any of the Chinese companies he claims to be targeting.
"Tariffs are a tax levied on U.S. importers when their purchased product crosses into the U.S. market. These importers are usually domestic companies that import products for distribution to U.S. consumers," the study states.
This cannot be allowed to happen. American can not afford another Trump presidency.
