Here are the updated estimates for how much Americans will pay for Trump’s tariffs. The average household will pay $3-$3.5K, and the poorest Americans will lose 4% of their income.
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Does this factor in the downward pressure this could put on employee compensation? Like, we know we'll pay for higher costs, but our paychecks could also shrink or disappear as well.
I'm not an economist so I'll speak from personal experience:
Employers won't be making as much money so cutting employees' hours and not hiring any new people is a real possibility.
Employers cutting back on staffing, especially folks who are at the top of their pay grade, is a real possibility too.
Thanks for this. I know it's all bad, but news reporting is focused on the higher prices that'll increase costs for families. But that doesn't strike fear in my heart like layoffs and job shortages do. Higher costs are infuriating. But employment insecurity is terrifying.
You need to read Senator Chris Murphy’s post on Bluesky about “Why tariffs?” it’s not about economics at all. It’s about holding businesses hostages and extracting favors.
Can you please clarify: Monthly? Quarterly? Annually? I might have overlooked where the data/graph key articulates that…? I’m seeing a lot of these projections and would love to also see clarity since the “punch” could hit harder based on that variable… TYVM!
These are wildly conservative estimates that fail to take into account the ripple effects of Trump's tariff debacle (e.g., when countries counter with higher tariffs against US goods and services, US businesses will be hit hard and will reduce spending and lay people off, and the cycle begins).
Just talked to a maga. The woke businesses are increasing their prices to get back at Trump. Other people did tariffs and prices didn’t go up.
Omg I can’t.
The ones I know will never believe it’s his fault. It’s like the German adults that wouldn’t talk about the war to their kids but when the kids grew up and learned what happened saw the truth. I don’t think this generation will ever be unbrainwashed. And these are otherwise intelligent kind people.
Don't let the brain trust around him see that chart or they'll just send out multiple rounds of $2k checks without realizing that would then require drawing up yet another chart.
Whining little bitch
🐀Trump’s so stupid and incompetent!
Trade wars ain’t working, stock market to the ground, economy in shambles!
FORD MOVING OUT OF THE USA.
It only took him 53 days for him to destroy our economy.
Trumps is destroying our country!🤬
Comments
Employers won't be making as much money so cutting employees' hours and not hiring any new people is a real possibility.
Employers cutting back on staffing, especially folks who are at the top of their pay grade, is a real possibility too.
Trump just implemented a huge tax hike on all Americans.
Omg I can’t.
🐀Trump’s so stupid and incompetent!
Trade wars ain’t working, stock market to the ground, economy in shambles!
FORD MOVING OUT OF THE USA.
It only took him 53 days for him to destroy our economy.
Trumps is destroying our country!🤬
#RemoveTrumpAndHisThugsNOW
🆘🆘🇺🇸🗽
☎️🆘EMERGENCY☎️🆘
•Erase the name Trump for ever‼️
•Erase Trump’s deadly criminal holocausticP25
🆘VOTE BLUE ONLY AMERICA🙏
🆘VOTE BLUE EVERYWHERE🙏
🆘GUARD YOUR VOTE, MAKE SURE IT COUNTS.
YOUR LIFE DEPENDS ON IT🙏
Thank you America
💙❤️💙❤️🇺🇸🗽