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Letter: Trump’s economic plan will raise costs on citizens

Oct 25, 2024

Trump wants to give tax breaks. He wants to cancel taxes on tips and overtime. Trump wants to give tax breaks to corporations and the wealthiest 1%. Economists have estimated the tax breaks for wealthiest would be $81,000 and the poorest $110. To offset the loss from cancellation on taxes he is proposing across the board tariffs.

Trump falsely claims tariffs are paid by foreign countries. Tariffs are paid by US importers, who then pass on the cost to the consumer. Automobiles are assembled in America, but automobile manufacturers receive parts from foreign countries. Tariffs will increase price of every automobile in America.

Mark Cuban who became a multibillionaire with no financial help from daddy, recently spoke at a rally in Wisconsin for Kamala Harris. “Trump thinks China pays for them (tariffs).” Trump has proposed a hike in taxes (tariffs) on all imported goods from China up to 60%. “This is the same guy that thought Mexico would pay for a border wall.”

Trump’s plan will raise costs on Americans.

Diane Woolsey

Ogden