Trump Promises to Create External Revenue Service

[iluvatar5150]

....because he apparently still doesn't understand how tariffs work. Or he at least expects his fanbase doesn't know how they work.

Truth Social

Truth Social is America's "Big Tent" social media platform that encourages an open, free, and honest global conversation without discriminating on the basis of political ideology.

truthsocial.com

https://www.cnbc.com/2025/01/14/trump-external-revenue-service-tariffs-.html

 

[Say it aint so]

....because he apparently still doesn't understand how tariffs work. Or he at least expects his fanbase doesn't know how they work.

View attachment 359791

Truth Social

Truth Social is America's "Big Tent" social media platform that encourages an open, free, and honest global conversation without discriminating on the basis of political ideology.

truthsocial.com

https://www.cnbc.com/2025/01/14/trump-external-revenue-service-tariffs-.html

The man literally still has a lot of his amenities and products made in any country but the one called the USA.
And no, he still doesn't understand how tariffs work.

 

[Maria Billingsley]

....because he apparently still doesn't understand how tariffs work. Or he at least expects his fanbase doesn't know how they work.

View attachment 359791

Truth Social

Truth Social is America's "Big Tent" social media platform that encourages an open, free, and honest global conversation without discriminating on the basis of political ideology.

truthsocial.com

https://www.cnbc.com/2025/01/14/trump-external-revenue-service-tariffs-.html

How far can someone go off the "deep end"? It's a bottomless abyss in this case.

 

[linux.poet]

That’s a good laugh.

How is the plundering of external nations going? Might as well make it official. Pay your tribute here!

(I do know that tariffs are just taxes on Americans who want to buy imports, so it basically amounts to a tax hike that Americans have to pay. Can’t say I support it. Go tax the Saudi Arabian monarchs instead. )

 

[Arcangl86]

I saw some people on Twitter praising this and suggesting that it's a precursor to eliminating the IRS, which is an incredibly bad idea. There is no way we can replace income taxes with tariffs or other indirect taxes.

 

[Hans Blaster]

Trump already created his "ERS" for collecting his External Revenue Emoluments.

 

[CRAZY_CAT_WOMAN]

You can't trust someone to run the country. When he's had a bunch of bankruptcy. That how Trump was running the country his first term. And he will do the same, this time . Americans will pay for it in the end.

 

[essentialsaltes]

"U.S. Customs and Border Protection currently is responsible for collecting tariffs."

Next up he'll create the Redundancy Department to talk to DOGE and the Department of Redundancy to listen to DOGE.

 

[Vambram]

You can't trust someone to run the country. When he's had a bunch of bankruptcy. That how Trump was running the country his first term. And he will do the same, this time . Americans will pay for it in the end.

Because of the out of control spending and ever increasing amounts of budget deficits & the USA National Debt during 2021-2024, our federal government is closer to "bankruptcy" now than we ever were during Trump's first term of office as POTUS in my opinion.

 

[Richard T]

I saw some people on Twitter praising this and suggesting that it's a precursor to eliminating the IRS, which is an incredibly bad idea. There is no way we can replace income taxes with tariffs or other indirect taxes.

Yes, no chance of tariff revenue being enough to significantly dent income taxes. It most likely will just wind up as an enhanced tax without doing much for lowering personal income taxes. It is a good front though for the justification to cut personal income taxes. They will figure it in future proposed budgets, overestimating the revenue, and underestimating the revenue lost from tax cuts. In the end it could very well just be a ruse that blows up the budget. There will be lots of unintended consequences to massive tariffs as well. I would support the traditional use of higher tariffs for enemies of the USA, or those other nations who trade with unfair advantages.

 

[KCfromNC]

Because of the out of control spending and ever increasing amounts of budget deficits & the USA National Debt during 2021-2024, our federal government is closer to "bankruptcy" now than we ever were during Trump's first term of office as POTUS in my opinion.

This would be a great talking point if only it didn't remind people that Donald's first term saw a larger growth in the debt than Biden's.

 

[pgp_protector]

I'm going to need lots of popcorn these next 4 years.

 

[wing2000]

"We will be charging those [countries] that make money off of us".

In Trump's binary world, there is always a winner and a loser. It can't be win - win.

 

[Say it aint so]

Because of the out of control spending and ever increasing amounts of budget deficits & the USA National Debt during 2021-2024, our federal government is closer to "bankruptcy" now than we ever were during Trump's first term of office as POTUS in my opinion.​

You need to rethink your opinion:

​

Biden: the national debt has grown by about $6.17 trillion, or 21.7%, since Joe Biden was inaugurated in 2021, according to the U.S. Treasury Department.​

​

Trump: beginning of Donald Trump’s presidency in 2017 to its end in 2021, the national debt increased by 40.43%, about $8.18 trillion, according to the U.S. Treasury Department.​

It should be also noted that revenues are higher under Biden including his passage of legislation to go after the high income people who don not pay their taxes. Of course, the GOP want to cut back on that ability.

 

[Vambram]

You need to rethink your opinion:

​

Biden: the national debt has grown by about $6.17 trillion, or 21.7%, since Joe Biden was inaugurated in 2021, according to the U.S. Treasury Department.​

​

Trump: beginning of Donald Trump’s presidency in 2017 to its end in 2021, the national debt increased by 40.43%, about $8.18 trillion, according to the U.S. Treasury Department.​

It should be also noted that revenues are higher under Biden including his passage of legislation to go after the high income people who don not pay their taxes. Of course, the GOP want to cut back on that ability.

Please provide proof for your numbers.

 

[Say it aint so]

Please provide proof for your numbers.

HERE

 

[Canuckster]

....because he apparently still doesn't understand how tariffs work. Or he at least expects his fanbase doesn't know how they work.

View attachment 359791

Truth Social

Truth Social is America's "Big Tent" social media platform that encourages an open, free, and honest global conversation without discriminating on the basis of political ideology.

truthsocial.com

https://www.cnbc.com/2025/01/14/trump-external-revenue-service-tariffs-.html

From what I can read, the ERS is not just about tariffs, but "all Revenue that come from Foreign sources". And the purpose is to reduce taxes on the American people, something extremely offensive to leftists.

 

[iluvatar5150]

From what I can read, the ERS is not just about tariffs, but "all Revenue that come from Foreign sources".

What foreign sources? American ex-pats living abroad? Other foreigners earning income from US sources? Why can’t the IRS handle that? Tariffs don’t come from foreign sources, at all.

And the purpose is to reduce taxes on the American people, something extremely offensive to leftists.

What’s offensive to us is Trump’s idiotic propaganda.

 

[Vambram]

HERE

View attachment 359863

That website has a pay wall and I am not going to pay anything to dive into that article.

U.S. National Debt by Year

The U.S. national debt is the total of what the federal government owes creditors. The U.S. has always carried debt, but the total has expanded rapidly since 2008.

www.investopedia.com

Here is a free website. Clearly, the global pandemic in 2020 was the outlier in which almost everyone in federal government wanted the huge amounts of extra spending, for various reasons, to stimulate the economy and give money to families, businesses, and corporations.

 

[Canuckster]

What foreign sources? American ex-pats living abroad? Other foreigners earning income from US sources? Why can’t the IRS handle that? Tariffs don’t come from foreign sources, at all.



What’s offensive to us is Trump’s idiotic propaganda.

Tariffs do come from foreign sources because the domestic importer is an agent/partner of the foreign seller. They jointly share the costs of tariffs. Then they recoup some of it by higher prices as it should.be.... things made by foreign slave labor are artificially low. The higher prices will incentivize the increase in domestic production of those imported items that can now be profitably produced domestically.... more jobs and makes Americans less dependent on essentials from foreign countries that they can produce domestically. Depending on foreigners for essentials is a national security risk.

But tariffs are just one source of foreign revenue. Royalties from resource development/export and interest from money lending also come from foreign sources. And I'm sure creative minds will use the power and influence of America to find other foreign sources of revenue. The leftists are the ones with the idiotic slavery propaganda who must hate the American people to want more taxes.