Trevor Tombe/The Hub: It’s hard to get a precise estimate, but my own work here suggests that households earning under $30,000 a year lose more than 0.5 percent of their disposable income as a result of the retaliatory tariffs. That is over three times larger than the hit to households earning above $150,000. In terms of dollars, families with kids face costs of roughly $250 per year from the tariffs while those without kids face costs of less than $170.
Simply put, tariffs are a regressive tax, and this is part of why they are not an ideal way to raise revenue…