The tariff numbers sound big, but it is important to look at the whole picture. There was tariff income before, so we can only look at the difference. If tariff income quadruples the gain would be about $300B/yr. The big bill cut income taxes by about $500B/yr. A net LOSS of $200B. The US is currently running a near $2T yearly deficit, so Trump has increased it by 10%. There are 10s of Billions in cuts to the government that don't come close to making up for this net loss. Tariffs are a tax paid by the importer (US company) and will be passed on to the consumer. The middle class and poor will bear the brunt of this.
Tax cuts and deregulation will spur economic growth. More taxes will end up being collected overall because of this economic growth, even though the rates are lower. A true win-win!
And when Nvidia hits a $10 trillion market cap in the next few years, Trump will have played a massive role init.
Trickle down economics has been a proven loser over and over. This is why we have massive deficit problems now. See below.
Nvidia hitting $10T would help a very small number of people. Trump chose a public compliment from the CEO over national security to let Nvidia sell to China again.
Do tell! Exactly what "external revenue" is the U.S. receiving?
You know, given that the tariffs our country imposes on the goods and services we import from other countries are entirely paid by the American people and businesses that import them?
This assumes there is no change on the source of the goods and services which we currently import, which is not necessarily the case. It also assumes the overseas supplier of such has no competition and can sustain their current prices.
I appreciate the civil response, but it doesn't seem to answer my question to GDG: Exactly what "external revenue" is the U.S. receiving? What monies from outside the USA is the American government collecting? That is, how is GDG's External Revenue Service "working," as he said?
This assumes there is no change on the source of the goods and services which we currently import, which is not necessarily the case. It also assumes the overseas supplier of such has no competition and can sustain their current prices.
I appreciate the civil response, but it doesn't seem to answer my question to GDG: Exactly what "external revenue" is the U.S. receiving? What monies from outside the USA is the American government collecting? That is, how is GDG's External Revenue Service "working," as he said?
Well I am no expert on these matters, but are not the tariffs import fees paid to the government by the importer as it clears customs? So the answer lies in who is the importer of record ie does Walmart for example take title before or after the goods clear customs? It depends on exactly how their purchase contract is worded. Whether they end up coming out of the consumer's pocket then is the other question.
The cost to upgrade the fake Free Qatar plane is nearly $1 billion. The upgrade has been classified a Yippy-Top Secret to hide the cost from the American people. The upgrades will not be completed until Trump v2 is out of office. Then he will take it a parting tax-free gift from the American people.
According to official communication reviewed by The Washington Post, Qatar will send the Boeing 747-8 aircraft as an unconditional ???donation??? to the Department of Defense.
The cost to upgrade the fake Free Qatar plane is nearly $1 billion. The upgrade has been classified a Yippy-Top Secret to hide the cost from the American people. The upgrades will not be completed until Trump v2 is out of office. Then he will take it a parting tax-free gift from the American people.
When compared to Commie Newsom's high speed rail which was budgeted around $33B and burned through billions more with nothing to show for it, at least we're getting a completed aircraft that will be operational. Newsom can't even keep a reservoir filled up nor keep the fire hydrants working
Democrats lose AGAIN.
This post was edited 2 minutes after it was posted.
