- Apr 28, 2015
- Reaction score
- Third Coast
- Political Leaning
President Donald Trump Thursday tweeted that "billions of Dollars are pouring into the coffers of the U.S.A. because of the Tariffs being charged to China, and there is a long way to go."
But the Trump administration's higher tariffs on Chinese imports are just a drop in the U.S. fiscal bucket, according to the latest financial statements from the Treasury.
Tariffs collected in the latest fiscal year ended Sept. 30 rose by less than $7 billion from fiscal 2017, according to the Treasury. That is less than 0.2 percent of the $3.3 trillion the Treasury took in during the latest fiscal year.
Source: (CNBC) Trump claims 'billions of dollars are pouring into the coffers of the USA' because of his tariffs, but that's just a drop in the bucket
I've read the Tweet included in my OP article, and I've been watching Trump's video of this claim as it makes the rounds on cable. Of course the media has been calling Trump out on his claim being hyperbolic, because those "billions" are a mere pittance in terms of total revenue. And they may have a point.
But what really caught my attention, is in nearly 24 hours of my causally watching my regular cable networks (CNN, MSNBC, Fox), not one pundit has pointed-out what I believe is the greatest deception of Trump's words & Tweet:
"China" is not being "charged" billions! Americans are being taxed billions!
Am I the only one that sees this? Am I wrong, here?