The Truth About Tariffs, Taxes, and State Reforms with Erica York | Let People Prosper Show Ep. 130🎙️

How policies shape your paycheck and the economy

Hello Friends!

What if everything you thought you knew about tariffs and taxes was wrong? In this episode of the Let People Prosper Show, Erica York, senior economist and research director at the Tax Foundation, unpacks the truth behind tariffs, the future of the Tax Cuts and Jobs Act, and why states compete to lead on tax reform.

If you want to understand how these policies impact your wallet and why states like Texas and Kansas are shaking things up with bold reforms, this episode is for you. Erica’s insights go beyond the headlines, offering a clear picture of what’s driving economic change—and what it means for your future.

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Key Highlights:

1. Tariffs Are Hidden Taxes

• Tariffs may sound tough on foreign competition, but American consumers and businesses foot the bill.

• Erica explains why free trade agreements are a better path to economic growth and why tariffs often backfire.

2. The Future of the Tax Cuts and Jobs Act

• The 2017 tax cuts created jobs and boosted investment, but many provisions are set to expire soon.

• Hear why extending key measures like lower corporate tax rates and immediate expensing is critical to keeping the economy competitive.

3. State-Level Reforms Are Gaining Momentum

• From flat taxes to plans that reduce property taxes, states are showing how to encourage economic growth.

• Erica highlights how states are becoming laboratories of innovation, competing to attract families and businesses with smarter tax policies.

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Time Stamps:

• 00:00: Intro: The real impact of tariffs and tax policies

• 03:20: Why tariffs hurt Americans more than they help

• 08:45: The smarter alternative to tariffs: Free trade agreements

• 12:10: How the Tax Cuts and Jobs Act changed the economy

• 18:30: What happens when the tax cuts expire?

• 22:45: State-level tax reform: Flat taxes and property tax reductions

• 29:00: Why competition among states matters for growth

• 36:05: Practical reforms that create long-term prosperity

• 40:50: Final thoughts: How policy drives opportunity

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Closing:

If you’ve been wondering how economic policies like tariffs, tax cuts, and state reforms shape your paycheck and future, this episode is packed with answers. Erica York brings years of expertise, breaking these complex issues into clear, actionable insights.

For more from Erica, check out her work at the Tax Foundation here. Watch the full episode now and discover how innovative policies can create opportunities for you and your family!

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