“There are people that don’t have jobs because of tariffs, but they don’t know it.” Milton Friedman

Deceptive claims

On tariffs: “A dividend of at least $2000 a person … will be paid to everyone.” Donald Trump

U.S. firms and consumers bear the bulk of the economic burden of the high tariffs imposed in 2025. – Federal Reserve Bank of New York

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On tax benefits of the” “Big Beautiful Bill” (BBB): “This bill… is going to make life better for hardworking Americans.” John Thune, Senate Majority Leader

BBB slashes services to pay for tax cuts – Bipartisan Policy Center

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“Jobs and factories will come roaring back into our country.” Donald Trump

100,000 manufacturing jobs lost since Trump took office – Progressive Policy Institute

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Who gets hurt • Who benefits

Donald Trump claimed his expansion of tariffs in 2025 would protect U.S. industries and raise revenue. The actual result was the opposite. American consumers ended up paying higher prices according to analyses from the Federal Reserve and Congressional Budget Office.  And job growth slowed into 2025–2026 according to the Bureau of Labor Statistics.

Even though the Supreme Court found key tariffs unconstitutional in February 2026, the financial effects are lasting:

• Businesses already increased prices and the increases “stick.”
• Lost markets aren’t easily recovered as foreign buyers already shifted to other suppliers.
• Supply chains were disrupted, leading to long term inefficiencies and higher costs.

Supporters of Trump’s tax plan, the “Big Beautiful Bill,” claimed it cut taxes broadly for everyone. Yet the Tax Policy Center determined the largest benefits go to higher-income households, middle-income gains are smaller, and some low-income households see little or no benefit. To offset the costs incurred by lowering taxes, funds supporting essential services such as healthcare were slashed.

Trading essential services for tax cuts for the rich – Center on Budget and Policy Priorities

NC county budgets stressed – NC Health News

Tariffs leave trade deficit unmoved despite promises – The Carolina Journal