$15 Billion And Climbing: Trump’s Tariffs Deliver Record High Revenue

[Always in His Presence]

$15 Billion And Climbing: Trump’s Tariffs Deliver Record High Revenue​

U.S. Customs duty collections soared more than 60% in April, marking the highest monthly revenue haul in terms of dollars in American history.​

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According to newly released Treasury Department data reviewed by Bloomberg, at least $15.4 billion in customs duties and related excise taxes flowed into federal coffers last month, $6 billion more than the month before. This spike in revenue coincides with the first wave of President Donald Trump’s newly implemented tariffs taking effect. Those include a renewed 25% tariff on steel and the “universal” 10% tariff Trump announced on April 2.​

 

[trophy33]

Therefore?

Tariffs are paid by the American importers, either companies or individuals. So it is just another taxation on Americans.

 

[GoldenBoy89]

$15 Billion And Climbing: Trump’s Tariffs Deliver Record High Revenue​

U.S. Customs duty collections soared more than 60% in April, marking the highest monthly revenue haul in terms of dollars in American history.​

​

According to newly released Treasury Department data reviewed by Bloomberg, at least $15.4 billion in customs duties and related excise taxes flowed into federal coffers last month, $6 billion more than the month before. This spike in revenue coincides with the first wave of President Donald Trump’s newly implemented tariffs taking effect. Those include a renewed 25% tariff on steel and the “universal” 10% tariff Trump announced on April 2.​

I never thought I’d see Republicans so happy to celebrate a tax on the American people.

 

[Always in His Presence]

I never thought I’d see Republicans so happy to celebrate a tax on the American people.

Likewise why are the never saw a tax I didn't like Democrats not applauding?

 

[GoldenBoy89]

Likewise why are the never saw a tax I didn't like Democrats not applauding?

Why are you bringing up democrats?

That seems off topic to the new tax Trump has imposed on the American people and all the tax revenue the government is now making off the backs of the American people with this new tax we’re all paying thanks to president Donald Trump.

 

[Always in His Presence]

Why are you bringing up democrats?

That seems off topic to the new tax Trump has imposed on the American people and all the tax revenue the government is now making off the backs of the American people with this new tax we’re all paying thanks to president Donald Trump.

Nope - just responding in kind - thanks for asking

 

[GoldenBoy89]

Well back to the topic. My work has already received emails from some of our vendors about price increases thanks to Trump’s Terrific Tariff Tax we all now have to pay. So it’s good to know the government is at least making money while small businesses start to feel the pain from these new, additional costs the president has decided to impose on everyone.

 

[CRAZY_CAT_WOMAN]

How does this help Trump supporters, or anyone. But the rich. Since we will be spending 15 billions and climbing more to buy groceries , clothes and other things. And of course the rich get to pay less taxes. Making the poor and middle class pay more.

 

[SimplyMe]

I think we need to keep in mind that, in 2024, the US government collected $4.9 trillion in total revenue, mostly from various types of taxes. As such, I don't see where the government collected $15 billion (as large as that amounts sounds) is that huge; if we did $15 billion per month over a year from tariffs, that still only would account for 3.67% of total federal revenues.

 

[Hans Blaster]

I think we need to keep in mind that, in 2024, the US government collected $4.9 trillion in total revenue, mostly from various types of taxes. As such, I don't see where the government collected $15 billion (as large as that amounts sounds) is that huge; if we did $15 billion per month over a year from tariffs, that still only would account for 0.0367% of total federal revenues.

3.67%, ($180 B) but still a rather small portion of the total USG revenue, up from the usual 2.2% ($108 B) of USG revenue.

 

[SimplyMe]

3.67%, ($180 B) but still a rather small portion of the total USG revenue, up from the usual 2.2% ($108 B) of USG revenue.

Don't ask me to do math on a Saturday.

 

[Richard T]

So an extra 6 billion a month. Tax cut extensions are expected to cost 4 trillion over 10 years. that is 400 billion a year, or 33 billion a month. If we reduce a trillion in spending, we still need 300 billion a year or 25 billion a month. So more tariffs or deeper cuts have a long way to go, especially if Trump is looking at spending more on defense as he has suggested.

So nothing but a shift of taxes from the rich to the poor. There is some talk though of a tax on millionaires though Johnson and Trump in this article opposes it.

Trump is sending mixed signals on a millionaire tax, but thinks it would push rich Americans to leave the country

President Trump has mused he'd “love” to tax wealthier Americans a little bit more, but has also repeatedly walked it back.

fortune.com

Notice how Trump says it would cause Millionaires to leave the USA. I think that says it all. It is about money, not citizenship in the mind of Trump. That is because to avoid paying all USA tax you have to renounce your citizenship to the U.S.

Another more sanitized justification is that it would cause the GOP to lose elections. https://www.bloomberg.com/news/arti...ves-millionaire-tax-worries-of-political-risk

 

[7thKeeper]

Why are you bringing up democrats?

That seems off topic to the new tax Trump has imposed on the American people and all the tax revenue the government is now making off the backs of the American people with this new tax we’re all paying thanks to president Donald Trump.

Cognitive Dissonance.

 

[ozso]

Likewise why are the never saw a tax I didn't like Democrats not applauding?

The money isn't funding woke any longer.

 

[Nithavela]

The money isn't funding woke any longer.

What is the money funding?

 

[Aryeh Jay]

What is the money funding?

Deportation and future wars.

And tax breaks for a select few.

 

[trophy33]

I wonder if somebody calculated the losses in the US economy because of tariffs and other Trump's actions and words. It will be in trillions, I guess.

 

[Aryeh Jay]

I wonder if somebody calculated the losses in the US economy because of tariffs and other Trump's actions and words. It will be in trillions, I guess.

Those aren't losses, they are reverse gains.

 

[trophy33]

Those aren't losses, they are reverse gains.

Karoline Leavitt might present it in roses and colors. Or rebuke the press for asking so unpatriotic questions.

 

[Nithavela]

Deportation and future wars.

And tax breaks for a select few.

Ah, so general making america great again.

Good to know.