The Telegraph: “If tariffs do increase $600 billion yearly, that’s no small sum of cash, even for an unlimited financial system like the US.”
“For context, the U.S. authorities raises $4.9 trillion a yr in tax income, so if Navarro is true the tariffs will add a bit below 15 % to that whole. It will be greater than the $424 billion the federal government raises from company taxes yearly. Tariffs can be was the third largest supply of presidency income, after federal earnings taxes, which account for simply over 50 % of the whole, and social safety or payroll taxes, which account for round 30 %.”
In impact, it might be the biggest tax rise any president has ever imposed, and set off an enormous shift in how the federal authorities raises cash.
