So many out there are probably thinking… Yeah, President Trump is conducting a trade war with China and maybe some prices will go up, but I got a tax break that covers those price increases so all will be good.
Unfortunately, that’s only what they want you to think.
Here’s how the math works:
According to the Urban-Brookings Tax Policy Center, middle earners got an average tax cut of $930 for the tax overhaul passed in late 2017, however, according to the New York Federal Reserve, tariffs already in effect cost the average household about $831.
Hey! That’s still $100 bucks right??