Economic fact-checks on Kamala Harris and Donald Trump’s 1st presidential debate (Page 3 ) | September 11, 2024

Harris Claim: “Trump wants a ‘20% tax on everyday goods’ that would cost families ‘about $4,000 more a year.'”

• Fact-Check: True, But Needs Context
  Trump proposed a universal “10-20%” tariff on all U.S. imports and a 60% tariff on imports from China. Independent economists agree that such tariffs would likely increase prices for American consumers. The precise financial impact on families varies widely across studies, with estimates ranging from $1,700 to nearly $4,000 annually. However, Trump has not explicitly proposed a sales tax or tax hikes for American families.

Trump Claim: “We have inflation like very few people have ever seen before. Probably the worst in our nation’s history.”

• Fact-Check: False, But It Was Very High
  While inflation peaked at about 9% in June 2022, that is not the highest in U.S. history. Higher rates were recorded after World War II and during the oil embargo of the late ’70s and early ’80s, when inflation peaked at 14.5%. As of July 2024, inflation was at 2.9%, the lowest in three years.
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