Tax Expert Slams Trump's Failed Policies

Nonpartisan analysis finds Trump's tax cuts and tariffs hurt working families and worsen the deficit.

Mar. 29, 2026 at 3:54pm

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A nonpartisan tax policy expert has criticized President Trump's tax and tariff policies, arguing they fail to benefit working families and instead increase complexity, narrow the tax base, and worsen the federal deficit. The expert, Garrett Wilson of the Tax Foundation, said Trump's claims about the revenue benefits of tariffs are unfounded and that a simpler tax code would do more to help ordinary Americans.

Why it matters

Trump has repeatedly touted his tax and trade policies as beneficial for the economy and working class, but this nonpartisan analysis suggests his signature initiatives are actually harming many Americans through higher prices, lower wages, and increased government bureaucracy. As the 2024 election approaches, this critique of Trump's economic record could be politically significant.

The details

Wilson argued that while some of Trump's tax policy changes, like new deductions, benefit some Americans, those gains are offset by how the policies 'narrow the tax base in arbitrary ways and worsen the deficit.' He said each new deduction comes with complex rules that increase administrative burdens. Wilson also criticized Trump's reliance on tariffs, saying they do not generate the revenue Trump claims and instead hurt families through higher prices and lower wages.

  • The article was published on March 29, 2026.

The players

Garrett Watson

Director of Policy Analysis at the Tax Foundation, a nonpartisan tax policy research organization.

Donald Trump

The former president whose tax and trade policies are the focus of the article's criticism.

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What they’re saying

“President Trump has spent much of his time in office boasting about new carveouts he's enacted, like new deductions for tips, overtime, auto loans and seniors. While these benefit some Americans, they narrow the tax base in arbitrary ways and worsen the deficit.”

— Garrett Watson, Director of Policy Analysis, Tax Foundation

“Each new deduction comes with definitions, income limits, phaseouts and reporting rules. Trump's tax chaos is further compounded by his tariff policies, which Wilson characterizes as Trump thinking tariffs are 'the golden ticket to our revenue problems.' In fact, Wilson pointed out that tariffs do not bring anywhere near the revenue that Trump says they will, but instead hurt ordinary families by causing 'higher prices, lower wages and smaller profits' and 'threaten[ing] to offset much of the growth and income gains from the 2025 tax cuts.'”

— Garrett Watson, Director of Policy Analysis, Tax Foundation

What’s next

The article does not mention any specific future events related to this story.

The takeaway

This nonpartisan analysis suggests that President Trump's signature tax and trade policies have failed to benefit working families as he claimed, and instead have increased complexity, narrowed the tax base, and worsened the federal deficit. As the 2024 election approaches, this critique of Trump's economic record could be politically significant.