> 1. Tariffs are bringing in real money.
> The U.S. collected $195 billion in customs duties, more than double the prior year. That doesn’t capture the full jump because tariff rates only ramped up in April, halfway through the year.
That's actually more than I expected.
> President Trump seeks to shift the government’s reliance on income taxes toward taxes on imported goods. Still, tariffs contribute a relatively small 3.7% of overall federal revenue, compared with 51% for the individual income tax.
We really need to close large ccorporate tax dodges as well. Too many smaller companies pay 35% rates while the Apples and NVIDIAs pay a fraction of that rate. There's apparently plenty enough corporation money sloshing around to spend trillions on GPUs for AI in the US.
That's actually more than I expected.
> President Trump seeks to shift the government’s reliance on income taxes toward taxes on imported goods. Still, tariffs contribute a relatively small 3.7% of overall federal revenue, compared with 51% for the individual income tax.
We really need to close large ccorporate tax dodges as well. Too many smaller companies pay 35% rates while the Apples and NVIDIAs pay a fraction of that rate. There's apparently plenty enough corporation money sloshing around to spend trillions on GPUs for AI in the US.