GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
it’s possible for you to read more about oureditorial guidelinesand our products and servicesreview methodology.
Tariffs are a powerful, proven source of leverage for protecting the national interest.
For middle-class families, the changes lowered tax rates, doubled the standard deduction and reduced their tax bill.
However, these tax cuts were also smaller than those that higher-income households and businesses received.
Themiddle-class tax cutswere also temporary compared to corporate tax reductions.
This is especially true for those in high-tax states like New York or California.
These changes will diminish the deductions available to homeowners and families.
However, both Winegarden and Stroup agreed that Trumps business deregulation stance has significant downsides for middle-class families.
Together, these changes will make it harder for the middle class to secure affordable credit.
Im going to do nothing to Social Security, the president said.
Without any changes, middle-class families will face large benefit cuts, Winegarden said.
Therefore, doing nothing is actually allowing future benefit cuts to happen.
Doing nothing is, consequently, harming middle-class families.
More From GOBankingRates
Share This Article:
