"Inflation has been wreaking havoc on a lot of people's finances since 2021. And while the Consumer Price Index was only up 3% in September, it's important to remember that inflation is cumulative. Put another way, that 3% increase in September is on top of the many increases consumers have been dealing with for months on end. Tariffs aren't helping matters, either."
"This time around, President Trump is suggesting sending out a $2,000 tariff rebate. The Trump administration has collected more than $220 billion in tariff revenue to date, according to CNN. However, more than 163 million Americans filed a tax return in 2024. If we do the math, it would cost the government about $326 billion to send $2,000 stimulus checks to the public, which means the money would need to come from somewhere else."
Many Americans have faced financial strain since 2021 because inflation has accumulated over many months. Tariffs have contributed to higher consumer prices by increasing costs for retailers that pass expenses to shoppers. President Trump proposed a $2,000 tariff rebate check intended to provide immediate relief. Tariff revenue collected to date totals more than $220 billion. With over 163 million tax returns filed in 2024, a $2,000 payment to every filer would cost about $326 billion. Excluding higher earners could lower the recipient total to roughly 150 million, but the cost would still be about $300 billion, exceeding current tariff revenue.
Read at 24/7 Wall St.
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