Post by Catherine Schmidt - ourselves.space

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#Politics #trump #alt #Tariffs #MikePence #Tax #Taxes

Heather Cox Richardson 7/10/25
PENCE: TARIFFS ARE TAXES ON THE PEOPLE

Heather Cox Richardson 7/10/25

PENCE: TARIFFS ARE TAXES ON THE PEOPLE

Paul Wiseman of the Associated Press notes that the 10% tariffs are
apparently here to stay because the administration needs that money to
cover some of the hole the new tax cuts from the budget reconciliation bill
will blast in the deficit.

While Trump continues to insist—incorrectly—that foreign countries pay
tariffs, his former vice president Mike Pence reiterated the truth today. On
Bloomberg “Surveillance,” he said of Treasury Secretary Scott Bessent's
boast that tariffs will bring in $300 billion this year: "Well, tariffs are a tax,
and American importers and businesses and, ultimately, consumers pay
almost all of that. And so literally a week after we managed to extend the
Trump-Pence tax cuts and prevent a $2,000 tax increase on working
families, the administration is right now boasting of the fact that the
average American household is going to see about $3,000 increase in the
cost of goods."

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