Economists see price hikes up ahead as new tariffs go into effect – CBS
U.S. Chamber warns of price increases as tariffs take effect – msn
Functioning as a funky genre of national sales tax, higher tariffs jaggedly applied across the economy will impact the spending power of low-income and middle-class households the most. Background:
Fiscal Progressivity of the U.S. Federal and State Governments – Minneapolis Fed
“States that are funded mostly by sales and property taxes tend to have regressive tax systems and low average tax rates. States that are funded mostly by income taxes tend to have progressive tax systems and high average tax rates.”
“Heavy reliance on sales and excise taxes makes tax systems more regressive…A progressive, graduated rate income tax makes overall tax systems less regressive or more progressive.”