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The new taxes proposed by the current administration will have the negative effect of reducing the net disposable income. This will have the biggest impact on the low and mid income U.S. Citizens.
This is easily determined by analyzing a few of the many new taxes and increases on taxes already applied to tax payors.
Potential Negative Impacts:
Higher taxes on small businesses could lead to reduced hiring, lower wages, and higher prices for consumers.
Increased taxes on unrealized capital gains could discourage investment and slow economic growth, potentially leading to job losses and reduced incomes.
The cost of paying off existing student loan debt, estimated at $1 trillion or more, would likely be passed on to taxpayers, including low to mid income citizens.
The aforementioned is inflationary and no one will escape the higher prices.
This is easily determined by analyzing a few of the many new taxes and increases on taxes already applied to tax payors.
Potential Negative Impacts:
Higher taxes on small businesses could lead to reduced hiring, lower wages, and higher prices for consumers.
Increased taxes on unrealized capital gains could discourage investment and slow economic growth, potentially leading to job losses and reduced incomes.
The cost of paying off existing student loan debt, estimated at $1 trillion or more, would likely be passed on to taxpayers, including low to mid income citizens.
The aforementioned is inflationary and no one will escape the higher prices.
Is Rising Student Debt Harming the U.S. Economy?
Posted from cfr.org
Economy
Budget
Posted 3 mo ago
Responses: 2
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Price controls don't work. Tariffs (being proposed by both sides) only raise costs for consumers. Combine that with getting rid of 11 million workers and you have stagflation
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SPC Jeff Daley, PhD Somehow, they will blame Trump if the economy sinks because the average citizen can't afford as much as they used to. If they cancel student debt they should refund the money I paid to get out of debt.
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