Last year Donald Trump cut taxes on corporations and the rich by about $2 trillion over the next ten years. But what about us ordinary schmoes? For us he’s levied the following taxes:
- 25 percent tariff on steel imports
- 10 percent tariff on aluminum imports
- 25 percent tariff on $50 billion in imports from China
By my calculation, this comes to about $250 billion over ten years, something that Republicans have grumbled about slightly but done nothing to stop. And make no mistake: this is basically a sales tax that will ultimately be paid by consumers. So there you have it: a $2 trillion cut cut for the rich and a $250 billion tax hike for the middle class—so far. Welcome to the Republican Party’s vision for America.