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Everything from new and used cars to grocery store food costs everyone more.
Even the price of housing has been on a tear, even with higher interest rates.
With things costing more, many people start looking for reasons and need someone to point their finger at.
Often, that person is the president.
It is used to determine how the prices of different items fluctuate from month to month.
Most people assume that the price of everything tracked went up by 4%.
However, CPI is weighted based on where most people spend their money.
According to Federal Reserve policymakers, an inflation rate of 2% is acceptable for a stable economy.
Both candidates have proposed almost no cuts to the current level of spending.
In fact, both have identified areas in which the federal government should spend more.
Tariffs on Imports
Trump has proposed increasing tariffs and trade restrictions, said Goss.
Trumps proposal involves replacing theincome taxwith a 10% general tariff on imports of various goods and services.
He also wants to place a 60% tariff on Chinese imports.
An increase in tariffs will likely increase the cost of many goods and services.
The Act introduced significant changes to the tax code for individual, corporate and estate tax rates.
Some of the effects of the Tax Cuts and Jobs Act included overhauling howtax deductionsworked.
This could affect how much money taxpayers receive back for their taxes.
This difference would be in dollars and as a percentage of their after-tax income.
Without that additional tax moneyfrom the extremely wealthy, the nations debt will continue to rise.
However, Trumps proposed tariffs on imported goods and tax policies are especially concerning to many experts.
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