September 20, 2018

Donald Trump Is the Biggest Middle-Class Tax Raiser of All Time

Ha ha ha:

President Trump recently announced plans to impose a 10 percent tax on $200 billion of imports from China effective September 24, escalating to 25 percent effective January 1, 2019. When added to tariffs that have already been implemented, total trade taxes imposed on American consumers and businesses via unilateral executive action exceed all the taxes included in President Obama’s Affordable Care Act (ACA).

That’s from the National Taxpayers Union Foundation, a conservative outfit that favors low taxes and low spending. Their methodology is a little aggressive since they include $60 billion in automobile tariffs that haven’t actually been implemented yet, but then again, Donald Trump keeps yammering about raising car tariffs, so maybe it’s fair after all. When you add it all up, here’s the total in colorful chart form:

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