Tax Cut and Jobs Act

For Many Households, Trump’s Tariffs Could Wipe Out The Benefits of the TCJA

For Many Households, Trump’s Tariffs Could Wipe Out The Benefits of the TCJA

President Trump’s increases in tariffs on imported goods from China and elsewhere are effectively reversing a big chunk of the 2017 Tax Cuts and Jobs Act. For many low- and middle-income consumers, Trump is eliminating most or all of the benefits of TCJA. How? Because the tariffs could increase the price of consumer goods by as much or more than the TCJA cut taxes.

How Rich Do You Have to Be to Not Pay Taxes?

How Rich Do You Have to Be to Not Pay Taxes?

What it would take for a small-business owner to avoid sending money to the IRS? “We don’t pay taxes. Only the little people pay taxes,” the billionaire hotelier Leona Helmsley was once quoted as saying.