Trump is bringing in enough revenue from tariffs to cut deficits by $4 trillion over the next decade, CBO says

[ModernDiogenes]

Trump is bringing in enough revenue from tariffs to cut deficits by $4 trillion over the next decade, CBO says

In just two months, Trump added another $1.5 trillion of deficit reduction in the form of new tariffs, CBO said. Still, the One Big Beautiful Bill Act will raise deficits by $3.4 trillion.

fortune.com

The CBO suggests that current figures mean that if they are correct Trump’s tariffs could raise sufficient revenue to reduce the National Debt by $4T over the next 10 years.

The only thing is it will be collected from the U.S. consumer as a national sales tax not called a sales tax but simple rolled into the ticket price, paid for mostly by working and middle class people.

 

[Questerr]

Trump has massively raised taxes on the poor and middle class to pay for tax cuts to the wealthy.

 

[Callen]

They won't last 10 years.

 

[Mr Person]

Tax increases raise revenue? Who'd a thunk it?

We wouldn't have a "spending" aka debt aka revenue problem at all but for tax cuts from Reagan, Bush Jr, Trump 1, and Trump 2.

But piece of shit MAGAs will of course pretend that all those tax cuts didn't hurt revenue and the only thing that helped revenue ever were Trump's tariffs, which they will deny are a sales tax an which they will insist are not driving up prices. Because that's how pieces of shit roll, baby!

 

[lynnwinslow]

Trump is bringing in enough revenue from tariffs to cut deficits by $4 trillion over the next decade, CBO says

In just two months, Trump added another $1.5 trillion of deficit reduction in the form of new tariffs, CBO said. Still, the One Big Beautiful Bill Act will raise deficits by $3.4 trillion.

fortune.com

The CBO suggests that current figures mean that if they are correct Trump’s tariffs could raise sufficient revenue to reduce the National Debt by $4T over the next 10 years.

The only thing is it will be collected from the U.S. consumer as a national sales tax not called a sales tax but simple rolled into the ticket price, paid for mostly by working and middle class people.

The Trump administration could tell his followers that cow pies are now caviar and they would run in here to cheer it or deflect to Biden.

 

[j brown's body]

Trump is bringing in enough revenue from tariffs to cut deficits by $4 trillion over the next decade, CBO says

In just two months, Trump added another $1.5 trillion of deficit reduction in the form of new tariffs, CBO said. Still, the One Big Beautiful Bill Act will raise deficits by $3.4 trillion.

fortune.com

The CBO suggests that current figures mean that if they are correct Trump’s tariffs could raise sufficient revenue to reduce the National Debt by $4T over the next 10 years.

The only thing is it will be collected from the U.S. consumer as a national sales tax not called a sales tax but simple rolled into the ticket price, paid for mostly by working and middle class people.

I gather this means manufacturing isn't coming back.

 

[Peacenik]

Trump is bringing in enough revenue from tariffs to cut deficits by $4 trillion over the next decade, CBO says

In just two months, Trump added another $1.5 trillion of deficit reduction in the form of new tariffs, CBO said. Still, the One Big Beautiful Bill Act will raise deficits by $3.4 trillion.

fortune.com

The CBO suggests that current figures mean that if they are correct Trump’s tariffs could raise sufficient revenue to reduce the National Debt by $4T over the next 10 years.

The only thing is it will be collected from the U.S. consumer as a national sales tax not called a sales tax but simple rolled into the ticket price, paid for mostly by working and middle class people.

He is not bringing anything in.

He is taking it out - of the American consumer.

 

[Slartibartfast]

That revenue is being paid on the backs of the poor.

 

[Peacenik]

Look at the big picture.

This import tax is being paid by every day American consumers.

The billionaires and super-rich got a permanent tax cut.

 

[Rogue Valley]

Trump's "Big Ugly Bill" will increase the US debt/deficit $3.4 trillion over the next decade.

Trump's 'big, beautiful bill' is projected to add $3.4 trillion to the debt, budget office says

The law will also "increase by 10 million the number of people without health insurance" over the coming decade, the nonpartisan Congressional Budget Office estimated.

www.nbcnews.com

 

[KingLeo]

If the tariffs last 10 years, and that is a big if, and in the mean time who is paying the price?
Average US consumers.
Not a popular trade off.

 

[ModernDiogenes]

I gather this means manufacturing isn't coming back.

There could be some small to intermediate victories IF things were done right. However automation, globalization, over population and artificial intelligence means unskilled labor has been rendered obsolete.