On the recordApril 3, 2025
yesterday, Donald Trump made one of the dumbest decisions he has ever made as President, and that is saying something. The tariffs Donald Trump approved yesterday are far, far worse than we thought. It is the largest tax hike on families since World War II. Yesterday was not ``Liberation Day''; it was tax day. ``Middle class, pay more taxes,'' Donald Trump is telling you. That is what the day is all about. This morning, naturally, the markets are plunging. The Dow is down 800 points, and the S&P is already on track for its worst day in years. Donald Trump has singlehandedly created a financial forest fire. Trump called yesterday ``Liberation Day.'' Nobody was feeling even close to liberated--quite the opposite. American families are learning the hard way that Donald Trump has them right in the middle of a pincer and is squeezing them on both sides. On the one side, Donald Trump is pushing tariffs that will cost working families an extra $5,000 a year, and by his own admission, he ``could not care less.'' On the other side, Donald Trump is working with Republicans to gut vital programs working families rely on, like Medicaid, Social Security, veterans programs. So there is a pincer: Trump's tariffs raise costs and pick people's pockets on one side, and Trump's budget and his budget cuts are taking away healthcare and benefits and veterans' care on the other side. Now, there are smart ways to use tariffs, and there are dumb ways to use tariffs.…
Source
govinfo.gov




