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Political Discussion
Reply to "25% tariff effective January 20th"
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[quote=Anonymous]Imports from Mexico (2023): $480.05 billion Imports from Canada (2023): $429.60 billion According to the U.S. Census Bureau, there were approximately 128.6 million households in the United States in 2023. Additional taxes per U.S. household due to a 25% tariff on imports from Mexico and Canada is estimated at approximately $1,769.80. So they'll be paying nearly $2k more in taxes per household. Income Group: Bottom 50% Adjusted Gross Income (AGI) Range: Up to $46,637 Average AGI: $19,192 Average Tax Rate: 3.3% Average Tax Paid: $633 Income Group: 50th to 90th Percentile AGI Range: $46,637 to $174,000 Average AGI: $85,853 Average Tax Rate: 8.1% Average Tax Paid: $6,954 So, about 80% of all tax-paying households should see a significant tax increase.[/quote]
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