August 1, 2018

Trump Plans to Announce $500 Tax on All American Households Today

Ringo Chiu via ZUMA

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The Wall Street Journal reports:

The White House, looking to ratchet up trade pressure on China, is expected to announced today that it is more than doubling the size of the proposed tariffs to 25% from 10% on $200 billion of Chinese imports, industry sources said.

Well, let’s see: divide by four, carry the one….that’s a $50 billion tax on Chinese goods—and according to the Journal, this includes consumer goods like furniture, lamps, food and computers. That’s about $500 on every household in America.

This is going great, isn’t it? The rich are getting a $100 billion cut on their capital gains taxes while the working class is getting a $50 billion tax increase on its furniture and computer gadgets. MAGA!

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We just wrapped up a shorter-than-normal, urgent-as-ever fundraising drive and we came up about $45,000 short of our $300,000 goal.

That means we're going to have upwards of $350,000, maybe more, to raise in online donations between now and June 30, when our fiscal year ends and we have to get to break-even. And even though there's zero cushion to miss the mark, we won't be all that in your face about our fundraising again until June.

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