Vic on Nostr: Yes on TCJA. Not everyone's went up. Mine did. I live in state on the coast where ...
Yes on TCJA. Not everyone's went up. Mine did. I live in state on the coast where state and local taxes are generally high. The TCJA put a cap on what could be deducted when itemizing, hence a net tax increase for many on the coast. This was perceived to be targetting mainly blue states which end up hitting those caps easier than red states in the middle of the country.
And now here we are again with the tarrifs, which are in essence a hidden net tax on the populous, moreso then the countries they target. Tax collected from suppliers in those country inevitably work their way into higher costs to consumers. Both from having to roll that expense, and secondly as domestic producers can adjust prices upward accordingly. The only entity that wins with tarrifs is the governments.
And now here we are again with the tarrifs, which are in essence a hidden net tax on the populous, moreso then the countries they target. Tax collected from suppliers in those country inevitably work their way into higher costs to consumers. Both from having to roll that expense, and secondly as domestic producers can adjust prices upward accordingly. The only entity that wins with tarrifs is the governments.