Donald Trump is touting the largest tax hike since 1982, and Americans are noticing the impacts will reach nearly every aspect of their lives. Major life milestones like getting married, having a child, or starting a business are getting more expensive thanks to Trump and the Republicans who support him. In Trump’s economy, you can’t even age into your senior years without feeling a tax digging deeper into your pockets.
A Baby Tax on Struggling Families
Natalie Gordon, founder and CEO of Babylist, said she’s already seeing a “potentially devastating” rise in the cost of baby items. Gordon said one major stroller brand is considering raising prices by $400 on their most popular models. Stroller and car seat maker, Cybex, told WIRED they would raise prices starting on May 1. “These tariffs are essentially a baby tax on already struggling families,” said Gordon.
Elizabeth Mahon, the owner of Three Littles, a baby store in Washington State, underscored the real danger and risk of raising prices on new parents. “No one is dying if they can’t buy a toy, but if they don’t have access to car seats, kids will get seriously injured,” she said.
A Love Tax on Newlyweds
Wedding industry experts say Trump’s tariff tax will raise the price of an average wedding in the U.S. due to the industry’s heavy reliance on imported dresses, flowers, chocolate, furniture, and alcohol. Ahna Han, a florist who works with The Knot, says she’s already seen suppliers of tools, materials, and vases charging 10% more due to the chaotic price changes brought on by Trump’s tariffs.
An Aging Tax on Seniors
It costs more to enter your golden years in Trump’s America, and seniors on fixed incomes can already feel the pain of higher prices.
Already nervous about Trump gutting Social Security and eyeing cuts to Medicare, aging Americans are bracing for higher costs on medicine, medical equipment, mobility aids, and everyday essentials.
An Ambition Tax on Entrepreneurs
Starting a business is the hallmark of the American Dream, but Trump is taxing Americans’ ambition into oblivion. Small business owners like Nate Minor, president of the East Atlanta Business Association, said Trump’s tariff tax will “put people out of business.”
Park Pet Supply owner Victoria Park said she’s already seen price hikes on pet food, pet toys, and pet collars. Park fears raising prices or shrinking her inventory will discourage customers from shopping locally and benefit big corporations like Chewy or PetSmart.
In online communities like Reddit, small business owners who used to share strategies for growing their businesses now share strategies to communicate that prices are increasing because of Trump’s tariff tax.
According to a recent poll from the Small Business Majority, 53% of small business owners are concerned that Trump’s tariff tax will negatively impact their business, and 77% are concerned the tax will negatively impact the U.S. economy.
Published: Apr 23, 2025 | Last Modified: Apr 28, 2025