So much for tariffs paying the bills.
From May through September, Washington refunded $134 billion in tariffs and collected $119 billion. Net customs revenue: about NEGATIVE $15 billion.
That's what happens when the Supreme Court rules the IEEPA tariffs illegal. The money goes back to the importers who paid it.
For the full fiscal year, net customs revenue fell to about $173 billion, down from about $195 billion the year before.
But here's the part that doesn't get refunded: higher prices, canceled investment, and the uncertainty families and businesses ate along the way.
Tariffs are taxes on Americans. They were never going to fix a spending problem.
I wrote about this: https://t.co/3tTxHtNOBf
Let people prosper.
BREAKING: The Trump Administration is reportedly considering firing Commerce Secretary Howard Lutnick over the China chip scandal.
This comes amid reports that Lutnick stalled curbing chip sales to China.
@Heminator It’s insane that it could take 3 years to realize something like that though, especially considering millions of people were screaming about it that entire time.
I was 26 when I contracted a terrible tropical disease that caused my hair and nails to fall out, and gangrenous worms to ooze from all my skin pores. My girlfriend stayed by my side faithfully through the long painful recovery. Now I question if her tits are big enough for me
It was literally the number one driver of higher premiums. They basically took the main regulatory economic component health insurance relies on (responsibility!) and banned it.
“A million dollars” is a fake number. Don’t be a silly goose. Of course, medical care can be extremely expensive, but that’s why you buy insurance in the first place.