Americans pay for almost all of Trump's tariffs

[Stalin]

fancy that - and just who is responsible for this increase in taxation ??

no doubt the maga wingnut faithfull will really enjoy paying more

Feb 12 (Reuters) - Americans are shouldering almost all of President Donald Trump’s import tax surge, a report from the Federal Reserve Bank of New York said on Thursday.

The bank said 90% of the tariffs imposed by the president on imported goods are borne by American consumers and companies. The report pushes back against the Trump administration’s argument that the levies are paid by foreigners.

The report evaluated how tariffs impacted the economy last year, when the average of the taxes went from 2.6% to 13%. The report noted that the average level shifted over the course of the year and was at its highest in April and May, when Trump pumped up tariffs on Chinese goods to 125% before lowering them back to a still heady 113%.

The authors based their analysis on how tariffs worked in the first Trump term. When faced with these types of taxes, “our past work found that foreign exporters did not lower their prices at all, so the full incidence of the tariffs was borne by the U.S. That is, there was 100% pass-through from tariffs into import prices.”
The paper said that between January and August of last year Americans took 94% of the hit from Trump’s tariffs. During September and October, that ebbed to 92%, settling to 86% in November.

The New York Fed findings jibe with a report put out by the Congressional Budget Office on Wednesday

https://www.reuters.com/world/us/ny-fed-report-says-americans-pay-almost-all-trumps-tariffs-2026-02-12/

comrade stalin
msocw

 

[mark francis]

fancy that - and just who is responsible for this increase in taxation ??

no doubt the maga wingnut faithfull will really enjoy paying more

Feb 12 (Reuters) - Americans are shouldering almost all of President Donald Trump’s import tax surge, a report from the Federal Reserve Bank of New York said on Thursday.

The bank said 90% of the tariffs imposed by the president on imported goods are borne by American consumers and companies. The report pushes back against the Trump administration’s argument that the levies are paid by foreigners.

The report evaluated how tariffs impacted the economy last year, when the average of the taxes went from 2.6% to 13%. The report noted that the average level shifted over the course of the year and was at its highest in April and May, when Trump pumped up tariffs on Chinese goods to 125% before lowering them back to a still heady 113%.

The authors based their analysis on how tariffs worked in the first Trump term. When faced with these types of taxes, “our past work found that foreign exporters did not lower their prices at all, so the full incidence of the tariffs was borne by the U.S. That is, there was 100% pass-through from tariffs into import prices.”
The paper said that between January and August of last year Americans took 94% of the hit from Trump’s tariffs. During September and October, that ebbed to 92%, settling to 86% in November.

The New York Fed findings jibe with a report put out by the Congressional Budget Office on Wednesday

https://www.reuters.com/world/us/ny-fed-report-says-americans-pay-almost-all-trumps-tariffs-2026-02-12/

comrade stalin
msocw

Democrat hair-gel darling Newsome knows how to crush his people under skyrocketing democrat taxes.

New York Post

California tax blitz in 2026 hits everyone – and it’s only the start​

By
Josh Koehn
Published Feb. 12, 2026, 8:57 p.m. ET


Lawmakers and local officials want to unleash an avalanche of new taxes on Californians in 2026, slugging everyone from big and small business owners to everyday consumers.

The new tax push comes just as gasoline tax increases yet again this summer — with drivers receiving little notification beyond a sneaky mention on an obscure government webpages.

In Sacramento and San Francisco, lawmakers and unions are crafting new taxes to go after landlords with vacant properties and businesses, big and small.

The most controversial proposal is the billionaire’s tax, which has already seen an estimated trillion dollars in wealth fleeing the Golden State.

In Los Angeles, county supervisors seized on Gov. Gavin Newsom and the Legislature’s frequent waiving of a 2% cap on local sales tax to push another half-cent sales tax increase, meaning Angelenos face paying an eyewatering 10.25% every time they arrive at the cash register.