President Donald Trump’s sweeping tariff regime is already reshaping global trade and spiking government customs revenue. But these historic import taxes could also push more Americans into poverty, according to new research.
An analysis published by The Budget Lab at Yale on Tuesday finds Trump’s tariff hikes will likely increase the number of Americans living in poverty by 875,000 in 2026. This increase includes an additional 375,000 children in poverty.
Oh it’s going to be a lot more than a million people.
No shit. Tell me about it. We easily have 100m+ in poverty currently; I could see that number doubling.
Even low balling it that seems like a delusional estimate. I’m in an extremely secure postion and I’m still pretty worried because I’m also burned the fuck out and a really recent hire
It’s a feature not a bug.
Billionaires want 500 hungry people scrambling for each minimum wage job.
Changing the definition of poverty in 3…2…1…
They’ve been doing that for years by keeping the poverty line all but fixed at a certain income level while inflation makes everything more expensive with each passing year.
1 million is a faction of what the reality will be. There are roughly 320 million people, 1 million people is about 0.003% of the population.
As of late 2024 it was estimated that between 57% and 73% of people were living paycheck to paycheck.
Let’s go with 57% and cut it roughly in half to be conservative and go with 28% of people being one missed paycheck away from losing everything.
28% of 320 million is about 90 million.That “1 million” estimate is off by several orders of magnitude on the low end.
1 million is a faction of what the reality will be. There are roughly 320 million people, 1 million people is about 0.003% of the population.
It’s more like 0.3%, but I fear your assessment regarding the estimate being off will become reality.
Shit, yeah I fucked up somewhere on the calculator 🤷♂️
You said 1/320 = .003125. Then said that as a per-cent meaning per 100 which means /100
Aka .3125 per 100 is .003125 The decimal shifts 2 to the left.
Our language has a lot of clues people forget about when doing math.
What is a cent, a penny. 100 [per]cents = $1 Many people I know forget how many quarts are in a gallon. Quart[er], 1/4… 4 in a dollar, 4 in a gallon I always love when I can find stupid things that help me remember how to navigate our stupid measurements.
Beer: 1 barrel, 1/2 keg is a standard, 1/4 or 1/6 is a pony keg… Why, fuck if I know
I also went immediately to my calculator to double check that number because 1/320 seemed a lot larger than 0.003%
Yah, it’s the difference between 1/320 and 1/320%
#verizonmath
the difference between 1/320 and 1/320%
Back to the calculator!
The slave masters don’t give a shit if the poor get poorer. They think the poor deserve it.
Plus, “hey, more exploitable labor!” Oligarchs and their fanboys range from neutral to pro-Poverty
They are painfully aware that modern economies are based on consumption
Alas,the us is not a democracy so there is absolutely no drawn on not even pretending to serve public interest
My church food pantry used to serve about 200 families a month. This past year we have risen to over 900 families per month. We used to service three counties but reduced it down to one and we have reduced our days from five to three days per week. We can’t get enough food and regularly run out. The only plus is that my community is primarily MAGA and they got what they voted for.
1 mill is a very conservative estimate in this regard. I expect it to be orders of magnitude worse.
It’s going to be like 30m
Working as intended.
Once people get desperate enough, they’ll be willing to work in the fields in the hot sun all day with no breaks, no shade, no water. The farmers will be happy with a new source of exploitable labor: win-win
I think the oligarchy has found a solution to climate crisis. They will try to wipe out 70% + of earth’s population. With AI and automation, they just need a couple of slaves and some people for entertainment, like kids for the pedophile president and his friends, and not much more.
Pair that with the BBB cuts to healthcare and the Great Depression brewing as a red of all these bad decisions and we may all find ourselves homeless
