Yale Budget Lab estimates that tariffs will cost average US household $1,000-$1,200 in lost purchasing power budgetlab.yale.edu/sites/defaul... - ThreadSky

crampell.bsky.social • 20 days ago

Yale Budget Lab estimates that tariffs will cost average US household $1,000-$1,200 in lost purchasing power
https://budgetlab.yale.edu/sites/default/files/2025-01/The%20Economic%20and%20Fiscal%20Effects%20of%20the%20Trump%20Administration_1.pdf

Comments

stevemistler.bsky.social•19 days ago

📌

shannongillies.bsky.social•20 days ago

Hope your little culture war victories were worth it, Dude With a Chip on Your Shoulder.

roseyroseamund.bsky.social•20 days ago

📌

bowlesian.bsky.social•20 days ago

The Canadian Chamber of Commerce has similar numbers. They estimate the own-goal impact of the tariffs plus Canadian retaliation will result in a 1.6% contraction in US GDP. (And 2.6 for Canada)

steve36893.bsky.social•20 days ago

Per year? It’s not enough to reach the dipshits, I don’t think. But it’s a good start.

And I know there will be other pain points. We need them all.

thisuserisdumb.bsky.social•20 days ago

Those of us with a large family (especially families with teenage sons) will pay thousands more on our groceries annually!

suffernofools123.bsky.social•19 days ago

given that most of the MAGA voter base household income is less than $50k/year. this is gonna hurt them a lot more

cliiford.bsky.social•19 days ago

That’s an estimate. Will be much higher. USA is at warm with the world.

rileyw91.bsky.social•19 days ago

An extra sales tax! Just what the dipsh*ts voted for! Winning

travstansel.bsky.social•19 days ago

It’s like no one mentioned this before the election

tapandrollgames.bsky.social•20 days ago

If this is the "median" household, that's probably about right, but rough napkin math shows that the "average" will be 2-3 times that...

https://bsky.app/profile/tapandrollgames.bsky.social/post/3lh2p2ezkvs2w

[And yes, I realize "rough napkin math" by some shmuck isn't equivalent to Yale Budget Lab, but their number seems grossly low.]

draxmagic.bsky.social•19 days ago

Starting to believe that tariffs are just a distaction so people won't be watching the takeover of the federal government by Trump/Musk.

jesusforgives.bsky.social•19 days ago

There's also a lot of international racism going on, and deportation of workers who have been here for decades.

lilboopsy.bsky.social•20 days ago

cfountain.bsky.social•20 days ago

Step 1: Prices go up.
Step 2: #MAGA blames countries for prices of their goods going up.
Step 3: Trump ‘negotiates a deal’ that brings us back before Step 1.
Step 4: Trump brags about bringing prices back down.
Step 5: MAGA eats it up.

chuckedahl.bsky.social•20 days ago

For context on the $1200, Real Disposable Personal Income (DSPIC96) for 2024 is $17,687.70

So this is almost 7% of average disposable income

maplantgirl.bsky.social•20 days ago

Add to that a higher tax burden, loss of tax breaks, loss of benefits, higher insurance costs and Trump is gonna cause a whole lotta pain.

applefarmer.bsky.social•19 days ago

That is a huge understatement of the true costs. But, hey, surprising to see Yale even talking about it.

ckcpottery.bsky.social•20 days ago

About the same as what the Savings&Loan fiasco cost us in the 1980s

catblanketflower.yuwakisa.com•20 days ago

tbh that seems kind of negligible. Is that for a year? $100 a month is rough for a lot of people, but it means trimming some discretionary spending

MAGA will likely happily swallow that

suckerbetsftw.bsky.social•20 days ago

$100 a month just ate up Grandma & Grandpa's Social Security COLA for this year...and probably next year's.

If they don't have any additional resources trimming some discretionary spending may mean deciding between dog food or cat food.

catblanketflower.yuwakisa.com•20 days ago

That's an excellent point. This is going to hit seniors really hard. I didn't factor that in

Also the impact on the supply chain is going to be inflationary, so that $100 a month will be an even bigger bite than that

tallulahfellina.bsky.social•19 days ago

It will be more, and the domino effect will be devastating to millions.

jasonyaw.bsky.social•20 days ago

Let the winning begin! 🤦‍♂️

scoobij.bsky.social•20 days ago

Thank you for sharing!

textarcana.bsky.social•19 days ago

I’m more worried about the market crashing and wiping out my savings.

j-waller55.bsky.social•20 days ago

There are many estimates circulating. None of them are good for average Americans.

sentinel42.bsky.social•19 days ago

Then it follows we should deduct about $2000 from our Fed taxes to compensate

crampell.bsky.social•19 days ago

New from @piie.com's @kclausing.bsky.social and Mary Lovely: another estimate finding that the tariffs would cost the typical household >$1,200 per year, more than wiping out any benefit from Trump income tax cuts
https://www.piie.com/research/piie-charts/2025/trumps-tariffs-canada-mexico-and-china-would-cost-typical-us-household