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Trump’s Tariff Hikes Could Push 1 Million Americans Into Poverty, Study Warns
Analysis by The Budget Lab shows Donald Trump’s steep new tariffs — the sharpest in nearly 100 years — could increase U.S. poverty.
Researcher John Ricco emphasized: “Tariffs are a tax on American families. Because tariffs are a tax on goods and services, instead of income, they hit harder on people who spend a higher percentage of income than they save.”
Under current policies, poverty could rise by 650,000 people in 2026, including 150,000 children, lifting the poverty rate from 12% to 12.2%.
Without tariffs, the rate would remain near 10.4%, but tariffs could push it up to 10.7% — putting nearly 1 million Americans at risk of slipping into poverty.
#USTariffs #TrumpEconomy #poverty #TradePolicy #USPolitics
Analysis by The Budget Lab shows Donald Trump’s steep new tariffs — the sharpest in nearly 100 years — could increase U.S. poverty.
Researcher John Ricco emphasized: “Tariffs are a tax on American families. Because tariffs are a tax on goods and services, instead of income, they hit harder on people who spend a higher percentage of income than they save.”
Under current policies, poverty could rise by 650,000 people in 2026, including 150,000 children, lifting the poverty rate from 12% to 12.2%.
Without tariffs, the rate would remain near 10.4%, but tariffs could push it up to 10.7% — putting nearly 1 million Americans at risk of slipping into poverty.
#USTariffs #TrumpEconomy #poverty #TradePolicy #USPolitics
🏢 Indonesia Aims for 6.5% Poverty Rate—While World Bank Cites 60% Living in Poverty 🏢
Indonesia’s government is setting its sights on sharply reducing poverty, even as the World Bank offers a far more sobering assessment.
🧾 Key Points:
1️⃣ Poverty Rate Goal: 6.5%–7.5% by 2026
Finance Minister Sri Mulyani told parliament that the government aims to slash the poverty rate to as low as 6.5% by 2026—down from the 7%–8% target set for 2025.
2️⃣ Unemployment Target: Under 5%
Open unemployment is projected to drop to between 4.44% and 4.96%, as part of broader economic goals.
3️⃣ Economic Projections
Indonesia forecasts GDP growth of 5.2%–5.8% in the near term, with inflation expected to remain at a manageable 3.5%.
4️⃣ Clashing Numbers: BPS vs. World Bank
Indonesia’s statistics agency (BPS) reported an 8.57% poverty rate as of September 2024. But the World Bank shocked many by estimating that 60.3% of Indonesians live below the international poverty line, reflecting deeper structural issues.
🔍 Why This Matters:
The vast disparity between domestic and global poverty figures reveals more than a statistical disagreement—it underscores fundamental differences in how poverty is defined and measured. With a new administration incoming, the spotlight is on how Indonesia plans to bridge that gap and deliver real progress.
#Write2Earn
#Indonesia
#Poverty
#Development
#Economy
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Indonesia’s government is setting its sights on sharply reducing poverty, even as the World Bank offers a far more sobering assessment.
🧾 Key Points:
1️⃣ Poverty Rate Goal: 6.5%–7.5% by 2026
Finance Minister Sri Mulyani told parliament that the government aims to slash the poverty rate to as low as 6.5% by 2026—down from the 7%–8% target set for 2025.
2️⃣ Unemployment Target: Under 5%
Open unemployment is projected to drop to between 4.44% and 4.96%, as part of broader economic goals.
3️⃣ Economic Projections
Indonesia forecasts GDP growth of 5.2%–5.8% in the near term, with inflation expected to remain at a manageable 3.5%.
4️⃣ Clashing Numbers: BPS vs. World Bank
Indonesia’s statistics agency (BPS) reported an 8.57% poverty rate as of September 2024. But the World Bank shocked many by estimating that 60.3% of Indonesians live below the international poverty line, reflecting deeper structural issues.
🔍 Why This Matters:
The vast disparity between domestic and global poverty figures reveals more than a statistical disagreement—it underscores fundamental differences in how poverty is defined and measured. With a new administration incoming, the spotlight is on how Indonesia plans to bridge that gap and deliver real progress.
#Write2Earn
#Indonesia
#Poverty
#Development
#Economy
$BTC
$ETH
$DOGE
🚨India🇮🇳 lifted 269 million people out of extreme #poverty from 2011–12 to 2022–23, with rates falling from 27.1% to 5.3%, says the 🌐World Bank. The decline spans rural and urban areas, aided by Modi-era welfare schemes and economic reforms targeting multidimensional poverty and improved infrastructure and service delivery.
-India TV
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-India TV
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