President Donald Trump’s sweeping tariff regime is already reshaping global trade and spiking government customs revenue. But these historic import taxes could also push more Americans into poverty, according to new research.
An analysis published by The Budget Lab at Yale on Tuesday finds Trump’s tariff hikes will likely increase the number of Americans living in poverty by 875,000 in 2026. This increase includes an additional 375,000 children in poverty.
The tariffs are all illegal, but the courts continue to let him extort the American people while no-one knows where the collected tariff’s are going.
All these tariffs are being pocketed by Donald trump and his regime and we will see ZERO benefits from any of it. We will just watch our hard earned paychecks get burned while the job market continues to tank and thousand become homeless.
It’s no coincidence donald wants to get rid of homeless people and put them in concentration camps while he purposely destroys the economy, forcing more to go homeless. It’s a great way for him to lock up the poor like Hitler did.
*Will. Will push millions of Americans into poverty.
That’s what Tariffs do. They are an unconstitutional tax on all of us. We pay it.
Honestly, good.
These idiot Americans who voted for the “economic anxiety II, fascist boogaloo” that never did their own research deserve it.
Yes that means they suffer, that means I suffer but I’m honestly going to be okay with that.
Americans need to learn and if it’s a hard lesson that involves the dildo of consequences that rarely comes lubed, so be it.
Have the day you voted for because I’m having the day I don’t vote for.
Pretty sure we didn’t vote for this.
Some did and that guy is fine with punishing the rest of us for it
the rest of us who didn’t bother to vote, so no interest in democracy, and now complain about Fascism.
Speak for yourself. I absolutely voted against the fascist pedophile.
At least they’re getting what they voted for, right?
Oh it’s going to be a lot more than a million people.
Even low balling it that seems like a delusional estimate. I’m in an extremely secure postion and I’m still pretty worried because I’m also burned the fuck out and a really recent hire
No shit. Tell me about it. We easily have 100m+ in poverty currently; I could see that number doubling.
It’s a feature not a bug.
Billionaires want 500 hungry people scrambling for each minimum wage job.
The slave masters don’t give a shit if the poor get poorer. They think the poor deserve it.
Plus, “hey, more exploitable labor!” Oligarchs and their fanboys range from neutral to pro-Poverty
They are painfully aware that modern economies are based on consumption
Alas,the us is not a democracy so there is absolutely no drawn on not even pretending to serve public interest
1 million is a faction of what the reality will be. There are roughly 320 million people, 1 million people is about 0.003% of the population.
As of late 2024 it was estimated that between 57% and 73% of people were living paycheck to paycheck.
Let’s go with 57% and cut it roughly in half to be conservative and go with 28% of people being one missed paycheck away from losing everything.
28% of 320 million is about 90 million.That “1 million” estimate is off by several orders of magnitude on the low end.
1 million is a faction of what the reality will be. There are roughly 320 million people, 1 million people is about 0.003% of the population.
It’s more like 0.3%, but I fear your assessment regarding the estimate being off will become reality.
Shit, yeah I fucked up somewhere on the calculator 🤷♂️
You said 1/320 = .003125. Then said that as a per-cent meaning per 100 which means /100
Aka .3125 per 100 is .003125 The decimal shifts 2 to the left.
Our language has a lot of clues people forget about when doing math.
What is a cent, a penny. 100 [per]cents = $1 Many people I know forget how many quarts are in a gallon. Quart[er], 1/4… 4 in a dollar, 4 in a gallon I always love when I can find stupid things that help me remember how to navigate our stupid measurements.
Beer: 1 barrel, 1/2 barrell is a standard keg, 1/4 or 1/6 is a pony keg… Why, fuck if I know
I also went immediately to my calculator to double check that number because 1/320 seemed a lot larger than 0.003%
Yah, it’s the difference between 1/320 and 1/320%
#verizonmath
More the original reference than the XKCD, but yes.
the difference between 1/320 and 1/320%
Back to the calculator!
Changing the definition of poverty in 3…2…1…
They’ve been doing that for years by keeping the poverty line all but fixed at a certain income level while inflation makes everything more expensive with each passing year.
1 mill is a very conservative estimate in this regard. I expect it to be orders of magnitude worse.
It’s going to be like 30m
My church food pantry used to serve about 200 families a month. This past year we have risen to over 900 families per month. We used to service three counties but reduced it down to one and we have reduced our days from five to three days per week. We can’t get enough food and regularly run out. The only plus is that my community is primarily MAGA and they got what they voted for.
Working as intended.
Once people get desperate enough, they’ll be willing to work in the fields in the hot sun all day with no breaks, no shade, no water. The farmers will be happy with a new source of exploitable labor: win-win
I think the oligarchy has found a solution to climate crisis. They will try to wipe out 70% + of earth’s population. With AI and automation, they just need a couple of slaves and some people for entertainment, like kids for the pedophile president and his friends, and not much more.
Pair that with the BBB cuts to healthcare and the Great Depression brewing as a red of all these bad decisions and we may all find ourselves homeless
