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Conservative economists Phil Gramm and Michael Solon argue that Trump's tariff-driven price increases offset tax cut savings, making the net effect effectively a tax increase on average Americans and denying the economy the 'golden age' Trump promised.
multiple outlets, traced to a single source · Attributed statement · first recorded Jul 9, 12:46 PM
Although several outlets carry this claim, their reporting traces back to a single shared source — so it counts as one confirmation, not several.
How each outlet reported it
rawstory.comUnrated · Jul 9, 12:46 PM
Two conservative economists refuted the narrative that tax refunds benefit Americans, arguing Trump's policies were effectively a tax increase
Cites: Phil Gramm, Michael Solon · Details: conservative economists; Tuesday
rawstory.comUnrated · Jul 9, 12:46 PM
Tax cuts largely benefit the wealthiest Americans at the expense of social safety net programs like Medicaid and food assistance
Cites: Phil Gramm, Michael Solon · Details: Medicaid; food assistance
rawstory.comUnrated · Jul 9, 12:46 PM
Price hikes caused by Trump's tariff policy offset tax cut savings for the average American
Cites: Phil Gramm, Michael Solon · Details: tariff policy; price hikes
rawstory.comUnrated · Jul 9, 12:46 PM
Although the government returns money via tax refunds, tariff-driven price increases take more money out, leaving Americans worse off financially
Cites: Phil Gramm, Michael Solon · Details: Wall Street Journal op-ed
rawstory.comUnrated · Jul 9, 12:46 PM
The claim that foreign countries absorb tariff costs is a myth
Cites: Phil Gramm, Michael Solon · Details: tariff costs
rawstory.comUnrated · Jul 9, 12:46 PM
Studies have found tariff increases are passed on to American consumers almost entirely
Cites: Phil Gramm, Michael Solon · Details: almost entirely
rawstory.comUnrated · Jul 9, 12:46 PM
Trump's obsession with tariffs denied the economy the 'golden age' he promised
Cites: Phil Gramm, Michael Solon · Details: golden age; tariffs
rawstory.comUnrated · Jul 9, 12:46 PM
If Trump had implemented tax cuts, deregulation and welfare reforms without tariffs, the economy would be booming
Cites: Phil Gramm, Michael Solon · Details: tax cuts; deregulation; welfare reforms