Where does the tariff money actually go?

[jomar]

trump says the US made billions on tariffs when he was 45. I googled, but got no info where tariff revenue goes, though maybe I didn’t google right and it went to soybean farmers under the trump china tariffs. Anyway, trump certainly isn’t the first prez to impose tariffs so where does it go? Maybe they could shore up social security. Haven’t heard of the revenue going to pay down the national debt. Anyone?

 

[MajorRewrite]

Doddering Donnie pretends tax revenue from tariffs will offset tax revenue lost from tax cuts for billionaires and corporations.

 

[Politruk]

General revenue, I suppose. Same pot as income tax receipts. Not Social Security, that's entirely funded by a separate, non-progressive payroll tax.

 

[jomar]

General revenue, I suppose. Same pot as income tax receipts. Not Social Security, that's entirely funded by a separate, non-progressive payroll tax.

I know, but they’ve borrowed against SS for decades and cry the funds are running out. Tariffs to the rescue, why not?

 

[Politruk]

I know, but they’ve borrowed against SS for decades and cry the funds are running out. Tariffs to the rescue, why not?

Write your Congresscritter.

 

[jomar]

Write your Congresscritter.

Why I just might, harumph! Think they’ll take a text or dm?

 

[Politruk]

Why I just might, harumph! Think they’ll take a text or dm?

Every one has a website you can contact them through.

 

[MajorRewrite]

I know, but they’ve borrowed against SS for decades and cry the funds are running out. Tariffs to the rescue, why not?

The funny thing about Social Security is there was never a “fund” and certainly isn’t one now. The federal government spends every dime it receives as soon as it comes in. The “fund” is just an actuarial fiction filled with IOUs the government gives to itself.

Regardless, any additional revenue from tariffs will likely be small compared to the deficits Donnie plans to run up. He is the all-time deficit spender.

 

[RobDownSouth]

trump says the US made billions on tariffs when he was 45. I googled, but got no info where tariff revenue goes, though maybe I didn’t google right and it went to soybean farmers under the trump china tariffs. Anyway, trump certainly isn’t the first prez to impose tariffs so where does it go? Maybe they could shore up social security. Haven’t heard of the revenue going to pay down the national debt. Anyone?

The first Orange Hitler tariffs essentially destroyed the American soybean export market.

China had been buying virtually all the soybeans that Americans had to export, so when Orange Hitler tariffed China, they retaliated with a laser focus on the most vocal Orange Hitler supporters, Midwestern soy farmers. China hit them with a retaliatory 25% tariff.

Most soybean farmers quickly went broke, so Orange Hitler's Department of Agriculture worked out a plan to use tariffs collected from China to reimburse 90% of soy farmers income, freeing them up to drink coffee and watch Fox News all day instead of farming. These farmers later complained that getting only 90% of lost income while doing nothing wasn't enough, they "deserved" 100% restitution.

(Orange Hitler basically created a generation of BotanyBoy-class ungrateful welfare moochers out of what used to be hard workin' farmers)

 

[jomar]

The funny thing about Social Security is there was never a “fund” and certainly isn’t one now. The federal government spends every dime it receives as soon as it comes in. The “fund” is just an actuarial fiction filled with IOUs the government gives to itself.

I know SS is a line item and not an actual separate bank account. But yes, they winnowed and diverted with a promise of a payback, but they keep going almost to the brink of fuck a bunch of retirees

Regardless, any additional revenue from tariffs will likely be small compared to the deficits Donnie plans to run up. He is the all-time deficit spender.

I don’t get the tariffs on Canada and Mexico. WTF has gotten into his paranoid mind. As a lame duck prez holding all the cards for now he’s free to go on a rampage

 

[LLCox]

trump says the US made billions on tariffs when he was 45. I googled, but got no info where tariff revenue goes, though maybe I didn’t google right and it went to soybean farmers under the trump china tariffs. Anyway, trump certainly isn’t the first prez to impose tariffs so where does it go? Maybe they could shore up social security. Haven’t heard of the revenue going to pay down the national debt. Anyone?

The money comes from out of your pocket.

 

[ll74]

I think the lefties in the forum should recognize the lumber tariffs that 46 levied against Canada. I'm not saying it would change your argument, but discussing tariffs without understanding that is not helpful to you.

U.S. Nearly Doubles Canadian Lumber Tariffs | NAHB https://search.app/e17DxGtpRcUi5P187

 

[jomar]

I think the lefties in the forum should recognize the lumber tariffs that 46 levied against Canada. I'm not saying it would change your argument, but discussing tariffs without understanding that is not helpful to you.

U.S. Nearly Doubles Canadian Lumber Tariffs | NAHB https://search.app/e17DxGtpRcUi5P187

lol, what argument? In post #1 I noted that trump isn’t the first prez to impose tariffs and I’m well aware that they are typically strategically placed.

 

[Lathanar1]

Tariff revenue is treated like tax revenue, just gets spread out to reduce the amount of treauries we have to sell to cover the debt. Before income tax, tariffs were the majority of funding for the government.

 

[ll74]

lol, what argument? In post #1 I noted that trump isn’t the first prez to impose tariffs and I’m well aware that they are typically strategically placed.

Any argument. Any discussion.

Understanding that tariffs are not isolated to one guy is important to understand

 

[jomar]

Any argument. Any discussion.

Ah, discussion

Understanding that tariffs are not isolated to one guy is important to understand

Yes, I think everyone knows that. It was also in my OP, lol

 

[DeYaKen]

trump says the US made billions on tariffs when he was 45. I googled, but got no info where tariff revenue goes, though maybe I didn’t google right and it went to soybean farmers under the trump china tariffs. Anyway, trump certainly isn’t the first prez to impose tariffs so where does it go? Maybe they could shore up social security. Haven’t heard of the revenue going to pay down the national debt. Anyone?

The US didn't make anything out of tariffs and never will. Tariffs are paid by the importer in the US. The importer then adds the cost of the tariff to the price of the goods imported. The people then pay the inflated price for the goods. Tariffs hurt the people of the US more than anyone else.

 

[Lance_Castro]

https://images-hellomagazine-com.cdn.ampproject.org/i/s/images.hellomagazine.com/horizon/original_aspect_ratio/fccb41544c80-2024-nyc-mt0342.jpgWhere does the money go? You need to ask?

 

[jomar]

https://images-hellomagazine-com.cdn.ampproject.org/i/s/images.hellomagazine.com/horizon/original_aspect_ratio/fccb41544c80-2024-nyc-mt0342.jpgWhere does the money go? You need to ask?

So I guess he’s not making enough overcharging the secret service to stay in his hotels when he golf. Then again, he doesn’t have that DC hotel to rake in foreign money anymore

 

[Lance_Castro]

https://images-hellomagazine-com.cdn.ampproject.org/i/s/images.hellomagazine.com/horizon/original_aspect_ratio/36087756903a-2024-nyc-mt0495-done.jpgSo I guess he’s not making enough overcharging the secret service to stay in his hotels when he golf. Then again, he doesn’t have that DC hotel to rake in foreign money anymore

Theres never enough money !

 

[ChloeTzang]

Into a golf course at the White House and turning it into a resort.....Govt has to pay it's way.....

 

[Politruk]

The US didn't make anything out of tariffs and never will.

Well, the government does get revenue out of them -- and some RWs seem to think that preferable to raising revenue through income tax.

 

[DeYaKen]

Well, the government does get revenue out of them -- and some RWs seem to think that preferable to raising revenue through income tax.

but the revenue they get comes from the US. They may benefit the government but they don't benefit the country.

 

[jomar]

So I guess I don’t really have a full understanding of tariffs. What I’m reading says the importer pays the tariff tax. That is, when Walmart, Best Buy and other companies import products, they pay the tariffs to the government. I get the chilling of exports because of increased cost to the buyer.

So when trump says we’re making billions off the China tariff does he not know it’s the US companies paying the tariffs? Or does he just see money coming in and just think China tariff money without another thought? Anyone care to chime in?

 

[Politruk]

So I guess I don’t really have a full understanding of tariffs. What I’m reading says the importer pays the tariff tax. That is, when Walmart, Best Buy and other companies import products, they pay the tariffs to the government. I get the chilling of exports because of increased cost to the buyer.

So when trump says we’re making billions off the China tariff does he not know it’s the US companies paying the tariffs? Or does he just see money coming in and just think China tariff money without another thought? Anyone care to chime in?

Trump seems to think he has the authority to tax foreign countries.