[reaperman]

I spent the past 30 minutes calculating this all manually using the sources listed below:

The practical takeaway is that the average household will spend $3,488.27 more as a result of the tariffs. Clothes, furniture, toys will be (mean) 26.9% more expensive, electronics will be 24.4% more expensive, tires and jewelry 16.2% and 17.1% more expensive, respectively.

If this is more acceptable to you, please voice your approval.

[0]: https://wits.worldbank.org [1]: https://dataweb.usitc.gov [2]: http://atlas.hks.harvard.edu

[cooper_ganglia]

That actually checks out. If you take the median U.S. household income ($74,580) and factor in the effective tax rate (10.9%), eliminating federal income taxes would save the average household $8,167.50 per year. Subtract the $3,488.27 in extra costs from tariffs, and the net savings is still $4,679.23.

So yeah, if those numbers hold up, the median American household actually comes out ahead after everything is accounted for.

[reaperman]

I'm sorry, what? Federal income taxes have not been eliminated. Trump can't even do that; Congress would have to, and they won't.

The federal government currently collects on the order of $2.5 trillion in income taxes. These tariffs would only generate $500 billion of federal revenue. But in reality they'll generate less, due to any amount of second-order effects where less stuff is imported due to higher costs. It's very myopic to only look at the household finances and not have anything to say about a proposed loss of $2 trillion of federal revenue.

With allies like you in this discussion thread, who needs enemies?