- Jun 18, 2005
Interesting. Looks like a game of chicken.https://www.washingtonexaminer.com/opinion/trumps-tariffs-now-cost-americans-more-than-obamacare-taxes
Trump's tariffs now cost Americans more than Obamacare taxes
On Sept. 19, President Trump imposed a 10 percent tax on $200 billion of Chinese imports. On Jan. 1, 2019, this tax will rise to 25 percent. But even without that January tariff rate increase, trade taxes on American businesses and consumers will exceed those of the ACA.
With the added $20 billion in trade taxes coming from this latest round of tariffs, the National Taxpayers Union Foundation now estimates the total annual cost of enacted tariffs to be $41.65 billion. That easily outpaces the tax bill from the Affordable Care Act for next year ($34.6 billion) after accounting for recent changes to the ACA.