Every day is Tax Day in Trump’s economy after he issued the largest tax hike since 1982.
Trump is losing an unnecessary trade war, choking American businesses off from necessary imports, isolating American farmers from important export markets, and sending confusing signals on the administration’s strategy moving forward.
The Trump administration’s chaos has Americans expecting inflation to rise and prices on everyday goods to skyrocket. Yale Budget Lab’s analysis found that Trump’s tariff tax would cost the average American household $4,400 this year alone.
We’ve been here before with Trump. During his first term, his tariff tax cost approximately 75,000 manufacturing jobs and put the industry into a recession. As of today, experts forecast a 60 percent chance of a global recession due to Trump’s trade war.
“Donald Trump told Americans he’d lower prices, create jobs, and cut taxes, instead, he’s slapped them with the largest tax cut in forty-three years. In the most chaotic way possible, he’s made every day Tax Day by hiking up the prices on the entire grocery store. Since there doesn’t seem to be a real method to the madness, Americans can’t be assured prices will come down anytime soon,” said American Bridge 21st Century spokesperson Brandon Weathersby. “Trump couldn’t stop talking about what he’d do to help workers and families, but Trump isn’t delivering on any of his tax promises to Americans. Next, he plans to pass huge, permanent tax breaks for the super rich – and he’ll make average families pay for that dumb idea as well.”
The one promise Trump is desperate to keep is passing a new, permanent tax cut for the rich, a $4.6-trillion kickback to millionaires and billionaires that will increase the national debt and require cuts to programs like Medicaid and SNAP to afford it. According to the Congressional Budget Office, permanently extending Trump tax cuts would raise taxes on middle-income Americans by up to $8,300 while giving the top 1% another handout.
Published: Apr 15, 2025 | Last Modified: Apr 21, 2025