Fox Business: Newt Gingrich: This country is sliding into a pro-Chinese, communist dictatorship
Reply
Tag Archives: tax
Buzz60: Walmart Raises Prices By 45% In 30 Days Due To ‘Magnitude Of The Tariffs’
Something unusual is happening at Walmart. This week, shoppers and workers are spotting big price hikes on toys, groceries, and everyday items.
Some prices are rising by nearly half in just 30 days. People are sharing photos of the new tags online. What’s driving these changes? The answer links back to tariffs announced in Washington, now showing up on America’s store shelves.
Across Walmart locations in the U.S., employees and customers are noticing sharp jumps. Fresh stickers are going up with higher numbers, and shoppers are posting side-by-side photos of old and new tags to show how quickly things have changed.
Much of the first buzz came from Reddit, where Walmart staff uploaded pictures of price changes. These posts quickly spread, giving the public a closer look at how steeply prices are moving in real time.
One of the clearest examples came from sporting goods. A left-handed fishing reel rose from $57.37 in April to $83.26 in May. That’s a 45 percent jump within weeks: proof of just how much tariffs can push prices.
The toy aisle tells a similar story. A Jurassic World T. rex climbed from $39.92 on April 27 to $55 by May 21. A Baby Born doll that cost under $35 in March was nearly $50 two months later. Parents are feeling the pinch.
Walmart makes about 60 percent of its U.S. sales from groceries. Even small increases here can affect millions of families. Cocoa powder, for example, jumped from $3.44 in 2024 to $6.18 in 2025, showing that food costs are not immune.
The main reason is tariffs. In April, President Donald Trump announced a 10 percent tax on imports. Vendors passed these costs on to Walmart, and Walmart says it can’t absorb them all without raising prices for shoppers.
Doug McMillon, Walmart’s CEO, put it simply: “We’ll keep prices as low as possible, but given the magnitude of the tariffs, we can’t take on all the pressure.” For a low-margin retailer, the math leaves little choice.
Walmart’s size means these changes affect huge numbers of people. As of July 31, 2025, Walmart runs 5,206 stores in the U.S., including 4,606 Walmart locations and 600 Sam’s Clubs. When Walmart prices shift, millions of households notice.
Walmart makes most of its money by selling lots of goods at low prices. Its thin profit margins mean that even small increases in supply costs show up quickly at checkout. Tariffs hit this model directly.
Tariffs were announced in April. By May, Walmart was already raising prices. That short gap shows how quickly higher import costs move from global trade decisions to store shelves.
Walmart isn’t alone. Many U.S. companies are also adjusting prices upward. The toy industry has warned that nearly every retailer relying on Chinese imports will feel the strain.
Most toys sold in the U.S. are made in China. That means nearly every part of the toy supply chain now costs more. With no way to absorb those costs, stores pass them to parents.
When asked about toy prices, Trump downplayed concerns: “Maybe the children will have two dolls instead of 30 dolls.” His remark fueled debate about whether tariffs really protect U.S. jobs… or mainly just raise costs for families.
Online, shoppers are voicing anger. Many share receipts or photos showing items marked up by double digits in a matter of weeks. Some say they’re cutting back or shopping elsewhere, but most note Walmart has few low-cost rivals.
CFO John David Rainey told reporters that Walmart’s strategy remains strong, but protecting profits while prices rise is a challenge. For now, the company is focused on managing growth and costs at the same time.
Economists warn that if tariffs continue, more categories, from electronics to clothing—could rise in price. Long-term pressure may shift how families spend and how stores compete.
For the millions who shop Walmart weekly, a 30 to 40 percent increase on basics adds up fast. Families already stretched by inflation say they feel these hikes directly in their budgets.
With prices climbing, shoppers and experts are calling for more clear labeling about why costs are rising. Some want receipts or shelf tags to show when tariffs, not just supply shortages, are driving increases.
For now, Walmart is passing costs along as tariffs take hold. Whether things settle depends on trade policy in the months ahead.
What started as a government decision is now being felt in the everyday purchases of millions of Americans.
Slingshot News: ‘I Think It’s Wrong’: Elizabeth Warren Puts Smug Nominee In His Place, Exposes Trump’s Corruption During Heated Exchange In Senate Hearing [Video]
During her remarks in a Senate hearing today, Senator Elizabeth Warren put a smug nominee in his place, calling out Trump’s corruption. Warren stated, “I think it’s wrong.”
Slingshot News: ‘You Guys Got Hit’: Trump Insults Disabled Military Veterans And Their Injuries In Front Of Reporters From The Oval Office
President Donald Trump insulted wounded and disabled Military veterans and their injuries during a tirade from the Oval Office earlier this year.
NBC News: Sec. Scott Bessent says tariffs are not a tax on the American people
Slingshot News: ‘Honestly, I Think They’re Crazy’: Donald Trump Loses It On Democrats For Making His Life Difficult In Oval Office Meltdown
‘Honestly, I Think They’re Crazy’: Donald Trump Loses It On Democrats For Making His Life Difficult In Oval Office Meltdown
Donald Trump gave remarks from the Oval Office several days ago. During his gaggle with the press, Trump had a meltdown in which he ranted about Democrats for constantly opposing him and his disastrous policies. “Honestly, I think they’re crazy,” Trump bemoaned.
Associated Press: US hiring stalls with employers reluctant to expand in an economy grown increasingly erratic
The American job market, a pillar of U.S. economic strength since the pandemic, is crumbling under the weight of President Donald Trump’s erratic economic policies.
Uncertain about where things are headed, companies have grown increasingly reluctant to hire, leaving agonized jobseekers unable to find work and weighing on consumers who account for 70% of all U.S. economic activity. Their spending has been the engine behind the world’s biggest economy since the COVID-19 disruptions of 2020.
The Labor Department reported Friday that U.S. employers — companies, government agencies and nonprofits — added just 22,000 jobs last month, down from 79,000 in July and well below the 80,000 that economists had expected.
The unemployment rate ticked up to 4.3% last month, also worse than expected and the highest since 2021.
“U.S. labor market deterioration intensified in August,’’ Scott Anderson, chief U.S. economist at BMO Capital Market, wrote in a commentary, noting that hiring was “slumping dangerously close to stall speed. This raises the risk of a harder landing for consumer spending and the economy in the months ahead.’’
Alexa Mamoulides, 27, was laid off in the spring from a job at a research publishing company and has been hunting for work ever since. She uses a spreadsheet to track her progress and said she’s applied for 111 positions and had 14 interviews — but hasn’t landed a job yet.
Bubba Trump is doing a splendid job of trashing our economy! And unfortunately, it’s only just begun.
US hiring stalls with employers reluctant to expand in an economy grown increasingly erratic
The American job market, a pillar of U.S. economic strength since the pandemic, is crumbling under the weight of President Donald Trump’s erratic economic policies.
https://apnews.com/article/jobs-economy-unemployment-trump-firing-f686eab61f7d6b702ca10b12b0250498
Newsweek: Social Security predicted to run out of money sooner due to Trump bill
A federal actuary has acknowledged that Social Security trusts will begin to become insolvent by 2034, with just 81 percent of beneficiaries estimated to receive their promised benefits.
Chief Actuary Karen Glenn wrote in a letter to Democratic Senator Ron Wyden, a Senate Finance Committee ranking member, on Tuesday: “Because the revenue from income taxation of Social Security benefits is directed to the Social Security and Medicare trust funds, implementation of the OBBBA will have material effects on the financial status of the Social Security trust funds.”
“The ‘One, Big, Beautiful Bill Act’ provides historic tax relief to America’s seniors,” a Social Security Administration (SSA) spokesperson told Newsweek on Thursday. “As Commissioner [Frank] Bisignano has repeatedly emphasized, ensuring the long-term financial health of these trust funds remains a top priority.
“The Social Security Administration is committed to working with Congress and other stakeholders to protect and strengthen these vital programs, ensuring that millions of Americans can continue to rely on Social Security for a secure retirement and support in times of disability—both now and in the future. We remain focused on responsible stewardship and transparent communication.”
Why It Matters
The Social Security system, supporting retirement income for tens of millions of Americans, now faces an earlier-than-expected financial crisis following major United States tax policy changes. The 2025 One Big Beautiful Bill Act, enacted under President Donald Trump, has shifted the projected date of insolvency, which could impact benefit payouts for about 62 million retirees and dependents.
Policymakers, financial experts and advocacy groups have responded with warnings about the urgent need for legislative action to preserve benefits and the long-term viability of the program that remains a cornerstone of American social policy. Without intervention, automatic cuts could leave Americans with roughly three-quarters of the benefits currently anticipated.
This issue not only affects today’s retirees but also has profound implications for future generations of U.S. workers who depend on the ongoing stability of the Social Security system. The projected financial strain intensifies longstanding debates on tax policy, government spending and entitlement reform.
The SSA reported that roughly 70 million people were receiving Social Security benefits as of June of this year.
What To Know
The SSA revised its timetable for trust fund depletion following the passing of the One Big Beautiful Bill Act on July 4, 2025.
The Office of the Chief Actuary, under the guidance of SSA, reported that cumulative costs to the Social Security’s Old-Age and Survivors Insurance (OASI) and Disability Insurance (DI) trust funds (jointly called OASDI) would increase by roughly $168.6 billion over the coming decade due largely to lower income tax rates and new deduction rules, including a temporarily enhanced standard deduction for seniors.
As a result, the actuarial balance further deteriorated to -3.98 percent from -3.82 percent.
If combined with further projections, Social Security reductions for future generations could reach or exceed 30 percent.
Social Security benefits will face an automatic 24 percent cut at the time of insolvency in late 2032, according to an analysis by the Committee for a Responsible Federal Budget (CRFB). By 2099, that cut could exceed well over 30 percent.
That 2032 estimate is equivalent to an $18,100 annual benefit cut for a dual-earning couple retiring at the start of 2033, shortly after trust fund insolvency. Simultaneously, those same retirees might experience reduced access to health care due to an 11 percent cut in Medicare Hospital Insurance payments.
Cuts would grow over time as scheduled benefits continue to outpace dedicated revenues, per the nonpartisan CRFB. The same actuarial forecasts warned that Medicare’s trust fund faces a similar timeline, expecting depletion in 2033.
CRFB’s estimates are somewhat larger than those implied by the most recent trustees’ report, due to tax rate cuts and an increase in the senior standard deduction from OBBBA, reducing Social Security’s revenue from the income taxation of benefits, which they say is increasing the required cut by about a percentage point upon insolvency.
“If the expanded senior standard deduction and other temporary measures of OBBBA are made permanent, the benefit cut would grow larger,” CRFB said.
Newsweek reached out to CRFB via email for additional comment.
The revised insolvency projections are also the product of broader demographic changes, including increased retirements among baby boomers, a declining birth rate, and lowered wage-growth expectations.
The latest trustee report in mid-June highlighted that, even apart from recent legislation, taxes collected for Social Security have struggled to keep pace with payouts due to the program’s structure.
What People Are Saying
Social Security Commissioner Frank Bisignano, in a June 18 press release: “To ensure we serve the public and deliver high-quality service to the 185 million people who work and pay payroll taxes for Social Security and the 70 million beneficiaries who will receive benefits during 2025, the financial status of the trust funds remains a top priority for the Trump Administration.
“Congress, along with the Social Security Administration and others committed to eliminating waste, fraud, and abuse, must work together to protect and strengthen the trust funds for the millions of Americans who rely on it—now and in the future— for a secure retirement or in the event of a disability.”
From an analysis by the Committee for a Responsible Federal Budget on July 24: “Policymakers pledging not to touch Social Security are implicitly endorsing these deep benefit cuts for 62 million retirees in 2032 and beyond. It is time for policymakers to tell the truth about the program’s finances and to pursue trust fund solutions to head off insolvency and improve the program for current and future generations.”
What Happens Next
Congress faces mounting pressure to act before the projected Social Security trust fund depletion in 2034 to avoid automatic benefit cuts. Options under discussion include tax hikes, changes to the benefit formula, or increasing the full retirement age.
Social Security predicted to run out of money sooner due to Trump bill
One organization warns that a dual-earning couple retiring in 2033 could experience a Social Security trust fund cut of $18,100.
https://www.newsweek.com/social-security-retirement-savings-benefits-money-2110258
Explicame: 7 Million Immigrant Taxpayers Could Be Investigated Over Shared IRS Data
The Internal Revenue Service (IRS) has initiated a controversial data-sharing program with immigration authorities, targeting up to 7 million immigrants. This move is part of a broader deportation effort under the Trump administration, following an agreement between the Department of the Treasury and the Department of Homeland Security (DHS). The agreement allows the DHS to access taxpayer information to locate immigrants facing deportation orders or federal criminal investigations.
In April, the IRS and DHS signed an agreement to share taxpayer data, marking a significant shift in policy. The IRS, which traditionally maintains strict confidentiality of taxpayer information, is now providing personal details such as names, addresses, and tax data. This initiative aims to assist the DHS in confirming the locations of individuals with final deportation orders or under federal criminal investigation.
Impact on IRS and Its Employees
The decision to share data has caused internal turmoil within the IRS. Employees were reportedly shocked by the DHS’s request to access data on 7 million immigrants. Concerns over the legality of this collaboration have led to the resignation or imminent departure of several high-ranking IRS officials. The controversy also coincides with the removal of Billy Long as IRS commissioner, further highlighting the agency’s internal challenges.
Despite the DHS’s request for information on 1.23 million individuals, the IRS shared data on less than 5% of those requested. The lack of exact matches between ICE’s data and IRS records limited the amount of information shared. This outcome has reportedly displeased the White House, which expected a more substantial data exchange to support its immigration enforcement efforts.
The data-sharing agreement raises significant legal and ethical questions. While IRS data is generally confidential, exceptions exist for law enforcement investigations. However, it remains unclear if the DHS has provided sufficient evidence to justify accessing IRS data for non-tax-related investigations. Immigration advocates argue that this agreement breaches the IRS’s duty to protect taxpayer information and sets a concerning precedent for future data sharing.
Many immigrants register with the IRS and pay taxes to demonstrate their compliance with U.S. laws, hoping it will aid their immigration cases. The new data-sharing initiative undermines this trust, potentially deterring immigrants from fulfilling their tax obligations. The fear of deportation may discourage immigrants from engaging with the IRS, impacting tax revenue and complicating immigration cases.
Alternet: ‘We have been seriously hit’: The Trump economy is coming for your coffee
The New York Times reports a coffee brewer in Maine has lost its fight against President Donald Trump’s tariffs.
“Our bean prices will be increasing within the next week,” posted Rock City Coffee chief executive Jessie Northgraves on Facebook.
Northgraves said her company had tried to keep prices stable, but they are now forced to raise prices on new, more expensive inventory coming in from offshore, courtesy of Trump’s additional tax on many imports. Trump vowed in July to impose a 50 percent tariff against Brazil, which directly goes to U.S. coffers, despite coffee brewers already having to pay more for beans due to droughts in Vietnam and Brazil.
Trump’s Treasury Secretary Scott Bessent recently announced his giddiness at Trump’s tariffs generating $100 billion in new revenue, but it is U.S. businesses like Rock City Coffee that are paying that revenue. The Times reports small businesses in high competition markets, including coffee suppliers, have less cushion and are loathe to raise prices and discourage customers.
“I thought maybe it would be temporary,” said Northgraves. “We were kind of trying to ride it out the past few months, not change our prices and just kind of absorb it as much as we could.”
She told the Timers she had tried to ignore the president’s on-again/off-again tariff threats, but her profit margins kept slipping with the cost of beans doubling. Trump’s tariffs even hit the price of the company’s Chinese-sourced coffee bean packaging.
“We have been seriously hit by the tariffs in coffee-exporting countries, and must raise the prices of our beans,” she wrote in an accompanying Facebook post. “Please know that we wouldn’t do this if it wasn’t totally necessary.”
While compiling a script to explain the higher prices to customers, Northgraves took care to include the reason behind the hikes. She says linking them honestly to tariffs rather than “quietly” raising prices gives her customers a much deserved explanation.
“It just felt better to be upfront about it,” she told the Times.