Trump Tax Increase

Take that look of worry
I'm an ordinary man
They don't tell me nothing
So I find out what I can
--Phil Collins

Current economic strength is being associated with the so-called 'Trump tax cuts.' But there is also a pending 'Trump tax increase' in the form of tariffs.

A tariff is a tax on imports. US consumers will shoulder this tax by paying higher prices for goods and services.

The net effect remains to be seen. Depending on the intensity and nature of tariffs imposed, Americans could wind up with a net tax increase.

What is certain is that tariffs tariffs will reduce the economic benefit afforded by decreased income tax payments.