Trump Authorizes $20 Billion Tax Increase

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On Thursday President Trump announced a new 5 percent tariff on all goods coming from Mexico—nearly all of which will be paid by consumers in the form of higher prices. A new car imported from Mexico, for example, will cost $1-2,000 extra. Altogether, we’ll import nearly $400 billion from Mexico this year, so the tariff will amount to about $20 billion, or $200 per family.

But it’s a regressive tax and it’s mostly invisible, so I guess Republicans are OK with it.

DONALD TRUMP & DEMOCRACY

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DONALD TRUMP & DEMOCRACY

Mother Jones was founded to do journalism differently. We stand for justice and democracy. We reject false equivalence. We go after stories others don’t. We’re a nonprofit newsroom, because the kind of truth-telling investigations we do doesn’t happen under corporate ownership.

And we need your support like never before, to fight back against the existential threats American democracy faces. Fundraising for nonprofit media is always a challenge, and we need all hands on deck right now. We have no cushion; we leave it all on the field.

It’s reader support that enables Mother Jones to report the facts that are too difficult, expensive, or inconvenient for other news outlets to uncover. Please help with a donation today if you can—even a few bucks will make a real difference. A monthly gift would be incredible.

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