(C) Daily Kos
This story was originally published by Daily Kos and is unaltered.
. . . . . . . . . .
Trump TaxCuts, Tariffs, loss of immigrant workers on our economy [1]
['This Content Is Not Subject To Review Daily Kos Staff Prior To Publication.']
Date: 2025-02-15
The American Immigration Council, a nonprofit think tank, estimates that deporting 1 million a year could cost $88 billion annually—all while removing workers from the labor market could ding the U.S. gross domestic product by up to $1.7 trillion. So far, Axios reports that Trump has asked Congress for an immediate $175 billion to get the ball rolling—but even that huge price tag is running into budget troubles. Republicans seemingly can’t pay for that and give billionaires their cherished $4.5 trillion tax cut. www.dailykos.com/...
How will this all be paid for? Is trump going to claim the tax cuts will not only pay for themselves but the tariffs and deportations will also pay for themselves? What does the Congressional budget office and the Federal Reserve think about all this spending by Trump?
FEB 6, 2025 In a closed-door meeting with House Leadership today President Trump reportedly outlined his tax priorities. According to press reports, they included extending the expiring pieces of the 2017 Tax Cuts and Jobs Act (TCJA); expanding the State and Local Tax (SALT) deduction; enacting tax breaks for goods made in America; cutting taxes on income from tips, overtime pay, and Social Security benefits; and eliminating tax breaks for carried interest and stadium owners. Depending on the details of these proposals, our rough estimate is that a package of this nature would: Reduce revenue by $5.0 trillion to $11.2 trillion over ten years.
over ten years. Lower revenue by 1.3 to 3.0 percent of Gross Domestic Product (GDP).
of Gross Domestic Product (GDP). Boost debt to between 132 and 149 percent of GDP by 2035, if not offset, compared to nearly 100 percent today and 118 percent under current law. www.crfb.org/...
I want the Congressional Budget office to give us official numbers I want the Federal Reserve to tell us how much they will have to raise interest rates.
February 3 2025 Trump's tariffs on Canada, Mexico, and China would cost the typical US household over $1,200 a year www.piie.com/...
Groceries and gas are already too high but on the plus side this will help Unions get new members.
December 11, 2025 Though the U.S. immigration system remains broken, immigrants are crucial to growing the labor force and supporting economic output. Immigrants have helped expand the labor supply, pay nearly $580 billion a year in taxes, possess a spending power of $1.6 trillion a year, and just last year contributed close to $50 billion each in personal income and consumer spending. www.jec.senate.gov/...
Reduce real gross domestic product (GDP) by as much as 7.4% by 2028,
Reduce the supply of workers for key industries, including by up to 225,000 workers in agriculture and 1.5 million workers in construction,
Push prices up to 9.1% higher by 2028, and
Cost 44,000 U.S.-born workers their jobs for every half a million immigrants who are removed from the labor force. www.jec.senate.gov/...
My bold if prices go up the High then Trump will have to declare a National Emergency and suspend elections to stay in power. Or force illegal immigrants into work camps to pay for the cost of arresting them and their plane tickets home where else can Trump find the money to deport people?
Cost 44,000 U.S.-born workers their jobs for every half a million immigrants who are removed from the labor force.
Personally I think this number is way too low without Immigrant Nannies, Maids, Cooks how many Women would have to leave the workforce?
Without Immigrant Landscapers, Painters, Construction workers how many Men will need a raise to pay US citizens to do these jobs? But Trump is very anti Union so Men will have to take time off to cut the lawn, paint the house, build a new deck sure some jobs you can put off others like a new roof you can’t. Lets face it some men nothing against them do not have these skills ( I am a horrible plumber for example) but if the roof leaks a pipe bursts it has to be fixed immediately.
That means for Men with the skills they will take time off of work. Men without the skills will put it on their credit cards and then get a second or third job plus demand more pay. Bankruptcies will go up how much until Men and Women get more pay which again Trump is very anti Union we might never get more pay.
[END]
---
[1] Url:
https://www.dailykos.com/stories/2025/2/15/2303924/-Trump-TaxCuts-Tariffs-loss-of-immigrant-workers-on-our-economy?pm_campaign=front_page&pm_source=more_community&pm_medium=web
Published and (C) by Daily Kos
Content appears here under this condition or license: Site content may be used for any purpose without permission unless otherwise specified.
via Magical.Fish Gopher News Feeds:
gopher://magical.fish/1/feeds/news/dailykos/
