Inflation is caused by ‘too much government spending,’ affirms Elon Musk. Here’s what he likes for wealth protection

Americans are also concerned about the effects of tariffs on their wallets. Though the One Big Beautiful Bill Act is poised to boost tax refunds this year, the Tax Foundation estimates that for middle-income households, tariffs will erase 70% to 95% of those gains. For lower-income tax filers, the situation is even worse (4).Since 2020, costs have soared — the price of groceries is up 30%, electricity has risen 41% and car repairs have skyrocketed 63%. And while average weekly wages have risen 31% over the ...