Posted on 04/05/2025 3:42:20 AM PDT by RandFan
If you think eggs are expensive, just wait until the new tariffs hit cars. Goldman Sachs estimates tariffs on imported vehicles could raise prices by $5,000 to $15,000. That’s because tariffs are taxes on foreign imports that are paid by American consumers. These tariffs apply to almost every conceivable product. As a result, energy will be more expensive, and gas prices in some parts of the country could see as much as a 70-cent increase in the cost per gallon. According to the National Association of Home Builders, the building of a single-family home could become up to $10,000 more expensive because of the tariffs. With the tariffs on aluminum, even beer and hard seltzer are likely to increase in price.
Unfortunately, these tax increases are on top of the taxes you have already paid when tariffs were imposed during the first Trump administration. The Tax Foundation calculated that tariffs between 2018 and 2023 imposed an additional $1,753 in costs on American families. Now that the tariffs apply to even more products, the tax increases are poised to be even higher this time. The Peterson Institute predicts tariffs could annually cost families $1,200 a year, while Yale’s Budget Lab estimates the tariffs would cost the average American family $4,200 annually.
The fact that tariffs are taxes paid by consumers is not news to the American people. That is why vehicle sales jumped almost 13% last month as Americans sought to make their purchases before the 25% tariffs on motor vehicles and parts went into effect.
(Excerpt) Read more at foxnews.com ...
Vehicles have been jumping that much per year for the past five years. Geez.
“...and gas prices in some parts of the country could see as much as a 70-cent increase in the cost per gallon.”
Maybe a step too far here. I believe we hold the most petroleum based land of any country on earth. Isn’t that why Trump has said “drill baby drill” to get away from foreign high priced oil? Paul isn’t able to understand the term “winning” because he’s one of the losers. Get him away from a mike and he’s nothing. Put him in front of one and he is determined to lose for everyone.
wy69
DING! DING! DING!
You just won the Post of the Day Award!🥇
Is he really this stupid?
Who are you going to believe, Rand Paul or Scott Bessent?
More than likely any price increases will be short term. First, most of these countries will cave in and reduce their tariffs and secondly our tariffs will bring a tremendous amount of manufacturing back to the US and prices will soften.
“He tried to warn you ...”
When asked about the high tarrifs other countries have on our products, Rand was last seen running for the door.
What legislation that was written by Rand has ever became law?
He is coming very close to irrelevant.
Not really something to boast about.
Notable:
Rand Paul was not included as an insider to either DJT’s first term, or this one.
He is no friend to Conservatism.
He is, in fact, an idiot.
And the OP is quickly becoming an anti-Conservative Rand Paul troll.
Tariffs can be lifted.
I rate this UNTrue
Rand may be smart about medicine but not so much about economics. Shouldn’t car prices be up 25% today in anticipation of new costs?
Rand is against bringing manufacturing back to America and for the continued service enslavement for lower prices.
F@#$ off, RPaul. Let’s take a look at your overseas’ investments. Are you like Pelosi and other losers and have $$ invested in CCP companies?
He isn’t a troll. He just likes Rand Paul. Paul wasn’t always this bad. He must have ate some bad fish.
I warned him the other day that he was beginning to act like a troll on paul.
He doubled down with this garbage.
On this, he IS a troll.
His choice.
Shut up, Rand.
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