OK, I am not rich, I make under 90K a year… and I used to get a tax rebate, every year.
I have just calculated my taxes, and I now owe almost $3,000 to the IRS.
I was going to use my rebate to buy a new car, but now it is leaving me without a good down payment.
OK, so I’ve been through bad economic times before (Reagan and Bush), so I’ll swallow the loss and buy a new car anyway… right?
Wrong! The price of a new car is now 20 percent higher than last year.
So I asked several car and truck dealers why. They all said the same thing: Trump’s tariffs are driving up prices for things made of metal.
Things like air conditioners, refrigerators, freezers, washers, dryers and most of all, cars.
So, Trump gave his rich buddies all millions of dollars in tax rebates, and took three thousand from me (and probably you too). Then, because of ignorant trade policy, I now have to pay a quarter more for a new car.
I guess the old car will do for a few more years. If millions of consumers all make the same decision, will that make Trump’s supporters happy?
I guess its good to be in the top one percent of elite billionaires.
Photo by Pixabay on Pexels.com
But it sucks to be a taxpayer who actually pays taxes!
No wonder American car industry is headed for a slump.
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