As is to be expected in tandem with such a lofty promise made without a concrete outline of how it will actually come to pass, there are a lot of doubters.
Economist Erica York wrote back when Trump announced the plan: “If the cutoff is $100,000, 150M adults would qualify, for a cost near $300 billion. … Adjusting for that, tariffs have raised $90 billion of net revenues compared to Trump’s proposed $300 billion rebate.”
POTTERVILLE, MICHIGAN – AUGUST 29: Former U.S. President and current Republican Presidential nominee Donald Trump speaks about the economy, inflation, and manufacturing during a campaign event at Alro Steel on August 29, 2024 in Potterville, Michigan. Michigan is considered a key battleground state in the upcoming November Presidential election. (Photo by Bill Pugliano/Getty Images)
Meanwhile, according to the Committee for a Responsible Federal Budget, handing out the $2,000 dividend to the majority of Americans could run up a bill as high as $600 billion. For the record, that’s over five times as much as the anticipated revenue from Trump’s tariffs, imposed back in April.Continue reading…
