Tariffs will raise $700 billion a year in revenue

Wow, that is quite a tax increase on Americans for buying products.

But, also, where is the math to support this?

 

Tariffs are paid by people and companies that import products. They then pass those costs on, to some extent, to end consumers.

Do you need an econ 101 primer on how tariffs work?

The irony. I asked you for data to support the claim. You didn't provide it. Would you like to try again?

 

Did you present any data or just post a quote from someone who has already said his share of stupid things?

 

I notice a distinct lack of data to back the numbers again.

I also notice a distinct lack of actual information or critical thinking. Let me start with a simple concept. How does a tariff help a domestic business "compete?" Is it by lowering competitive intensity, resulting in higher prices for domestic goods? If not, how does it work?

It seems likely that your lack of actual information or critical thinking is because you have no clue what you are talking about and are in way over your head. Good luck.

 

Okay, let's do some basic math then. $27 billion per month would equal $324 billion per year. Now, we already had $77 billion per year collected, so let's say that means an increase in revenue of $250 billion per year. Where does the other $450 billion come from then?

 

Cool, so you think that we went from a $316 Billion deficit to a $27 billion surplus because of an increase of $4 billion in customs revenue?

Also, why would you expect that raising one cost of a product by 300% would raise the total price of the product by 300%? That wouldn't happen even with 100% pass-through. It seems like you didn't really think this through.

 

If I empty a bucket of water into the ocean, the water in the bucket went down by 100%. Did the water in the ocean increase by 100%?

 

Maybe. But we need more info other the than “Howard Lutnick” says so.

No one doubts massive increase in tariffs will raise revenue. What about impacts on gdp & inflation? Imo still too early to tell.



Lutnick:
“The army of millions and millions of human beings screwing in little screws to make iPhones, that kind of thing is going to come to America,' he said.”

“Let’s say Social Security didn’t send out their checks this month……the easiest way to find a fraudster is to stop payments and listen,” he continued. “Whoever screamed is the one stealing.”



The jaw-droppingly stupid comment by Trump's commerce chief Howard Lutnick proves tariffs are doomed | Daily Mail Online

 

It's like it's free money, appearing out of nowhere!

 

So we had around $4.1 trillion in imports in 2024. $700 billion in tariff revenue means he's counting on an average tariff rate of about 17% for everything we import. That's not going to happen. Over time a 17% tax is going to reduce imports significantly. It's also pulling hundreds of billions out of the economy (in the form of higher prices and lower profits) so it will negatively impact tax revenues elsewhere. Whatever the tariff revenue ends up being, it's still a huge tax increase on Americans. Hard to believe right-wingers are so excited about a big tax increase but I guess we're in the upside down now.

 

Who pays the $700B?

 

The nihilists will not care... They have no understanding of logic.

 

Is this the most ironic thing ever said?!?

Bellyache about a "tax" then ask for math.

 

Are we really supposed to take this at face value? You all don’t actually believe the US will have 700 billion in new revenue from the tariffs, do you? I mean - great if that’s true. But does anyone actually believe that number?

 

About as believable as all that money DOGE saved us.