During the campaign, Donald Trump promised voters that he would reduce prices. He hasn't done that. In fact, he has been the biggest reason that prices continue to go up.
He loves tariffs. He had a dream that he could impose tariffs on nearly every country in the world (which he did), and use the income from those tariffs to lower taxes for himself and his rich buddies (which he also did).
He was warned by economists that those tariffs are a tax that would be paid by American businesses and consumers. But he denied that - continuously claiming that the tariffs would be paid by foreign countries.
The economists were right and Trump was wrong. Businesses tried to eat the cost of the tariffs for a while, but finally had to raise prices on the goods they imported. Now inflation is at 3% and rising. And Americans are seeing prices rise on nearly everything they need.
It has gotten so bad that many people are finding it hard to afford to live in the United States. And in the last election a couple of weeks ago, they vented their anger at Trump and the Republicans by giving Democrats huge victories in state and local races across the country.
Trump tried to deny his responsibility for too many Americans having trouble affording life in America, but his GOP cohorts (afraid the affordability issue would devastate them in 2026) begged him to do something about it.
Just a couple of days ago, Trump reduced the tariffs on items that can't be grown in the United States (like coffee and bananas). In doing so, he has admitted that his tariffs are at least part of the problem of rising prices.
It is not enough. While prices may be mitigated on a few grocery items, it is doubtful that it will affect overall grocery prices very much (especially since his deportation of agricultural workers is also adding to inflation). And groceries were just part of the problem. Prices are rising on electricity, rent, autos, electronics, health insurance (thanks to his ending of ACA subsidies), and many other things.
The affordability issue is not going away. His regressive tariff taxes on Americans continue to drive up prices. And wages are not rising enough to cover the inflation. The poor, the working class, and the middle class need some help.
Unfortunately, Trump and the congressional GOP don't care about anyone but the rich and corporations. They are not going to lower prices or raise wages.
Lowering the price of coffee and bananas is not enough. Much more needs to be done - and that means the affordability issue will be the primary driver in next year's election. It will likely cost the GOP control of Congress and make Trump a true lame duck.
No comments:
Post a Comment
ANONYMOUS COMMENTS WILL NOT BE PUBLISHED. And neither will racist,homophobic, or misogynistic comments. I do not mind if you disagree, but make your case in a decent manner.