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CBO: Trump’s tariffs will reduce the national debt by $2.5 trillion over the next decade
Posted on 6/4/25 at 12:43 pm
Posted on 6/4/25 at 12:43 pm
The highly partisan CBO grudgingly admits what the Orange has been saying, tariffs will bring in massive revenue:
They then theorize that the tariffs will reduce the economy, as well, which I think is flawed. But even so, they are clearly a net benefit for the USA.
LINK
quote:
Before accounting for how the changes in tariffs would affect the size of the economy, CBO estimates that the increase in collections of tariffs would reduce primary deficits by $2.5 trillion. That estimate accounts for how flows of U.S. imports and exports would adjust in response to the tariffs imposed as of May 13, 2025.
They then theorize that the tariffs will reduce the economy, as well, which I think is flawed. But even so, they are clearly a net benefit for the USA.
LINK
19
Posted on 6/4/25 at 12:51 pm to Riverside
Because the tariffs are a tax increase on the American consumer, who will be paying the tax. Increasing the income tax rate to 99% would also reduce the debt. That doesn't mean it's a good thing.
Posted on 6/4/25 at 1:04 pm to Ingeniero
quote:That's what you people keep saying... Thing is, 1) you only pay the tax if you purchase the tariff'd product. So we all have a choice whether we pay the "tax" or not.
Because the tariffs are a tax increase on the American consumer, who will be paying the tax.
2) I do not believe that foreign countries (like china) are selling their products here in America for their Cost plus 10%. If china produces a hammer for $5 (thru the use of slave labor), they are not selling it in America for $5.50. I certainly wouldn't. I'd look at the price of American made hammers, say $29.95. Then I'd undercut the American hammer by a few dollars to say $24.95 and pocket the $19 as profit. The tariff will eat into their profit, otherwise their hammers will not sell.
Posted on 6/4/25 at 1:10 pm to RollTide4547
Except China does not really sell retail in the USA. They sell to companies who set a wholesale price for retailers who then determine the final sale price.
Posted on 6/4/25 at 1:12 pm to Ingeniero
quote:Tariffs are in place. How have those "tax increases on the American consumer" affected you?
Because the tariffs are a tax increase on the American consumer
Posted on 6/4/25 at 1:15 pm to Ingeniero
quote:
Because the tariffs are a tax increase on the American consumer
This is such a ignorant talking point. In reality, the tariff will be paid, by whom is to be decided by market forces. If a product is in demand, suppliers will not have to eat the tariff and that cost is passed onto the consumer. Low demand products or products with domestic competition will not have that ability. It then becomes a tax on the supplier.
You can bitch and complain about tariffs, just do not lie about them. Market forces will dictate their impact and claiming it as a tax on consumers is factually wrong.
Posted on 6/4/25 at 1:18 pm to Riverside
Reducing deficits is not the same as reducing the debt. In you decrease projected deficits by 2.5 trillion the debt will still grow by 15 trillion or so.
Posted on 6/4/25 at 1:21 pm to Riverside
quote:
The highly partisan CBO
Posted on 6/4/25 at 1:21 pm to NC_Tigah
quote:
Tariffs are in place. How have those "tax increases on the American consumer" affected you?
Well they cost me thousands of dollars(and thousand more to come), I'm going to have less inventory now, I've had to lay off 3 employees already and I'm having to inform all my customers that we're going up on price. Basically putting my entire business at risk.
So they've affected me greatly.
Posted on 6/4/25 at 1:22 pm to Ingeniero
quote:
Because the tariffs are a tax increase on the American consumer, who will be paying the tax. Increasing the income tax rate to 99% would also reduce the debt. That doesn't mean it's a good thing.
The entire cost of business is built into an items price. Do you support higher minimum wage? Higher corporate taxes? Mandates leave?
All of those things could cause prices to consumers to rise. Why is your feigned concern restricted to tariffs?
Posted on 6/4/25 at 1:22 pm to Seldom Seen
The retards on this board will say you need to be adaptable.
Posted on 6/4/25 at 1:24 pm to Ingeniero
How much more in taxes are you paying on your daily used goods since evil tariffs were announced?
Posted on 6/4/25 at 1:24 pm to Riverside
quote:I'm surprised the were willing to make some of the assumptions they did. E.g., They assumed tariffs remaining in place for all 10yrs. They assumed varying tariff levels even though negotiations are in early stages. IOW, they "best guessed" it.
CBO: Trump’s tariffs will reduce the national debt by $2.5 trillion over the next decade
The highly partisan CBO grudgingly admits what the Orange has been saying, tariffs will bring in massive revenue:
quote:Right. They refuse to dynamically score the tax cuts, but dynamically score tariff increases. Smells like BS.
They then theorize that the tariffs will reduce the economy, as well
Posted on 6/4/25 at 1:26 pm to RollTide4547
quote:
RollTide4547
You are the meme.
Posted on 6/4/25 at 1:26 pm to Riverside
That's not nearly enough. 10T is a good starting point
Posted on 6/4/25 at 1:26 pm to BigJim
quote:You seem wrapped around the axle over the word "China". Step back and look at the overall process. Whomever is selling retail in the USA is selling the products just a few dollars under American products and pocketing the rest. It would be stupid to do otherwise. The tariffs will cause those entities or the wholesalers to eat the tariff costs, otherwise their products won't sell. The media and democrats (yes I repeat myself) are fear mongering.
Except China does not really sell retail in the USA. They sell to companies who set a wholesale price for retailers who then determine the final sale price.
Posted on 6/4/25 at 1:28 pm to Riverside
So we save 2.5 trillion by increasing the debt limit by 4 trillion.
Posted on 6/4/25 at 1:28 pm to jclem11
quote:Can't prove me wrong, so you attempt a personal attack and ridicule. Good little liberal padawan. By the way, there are more steps in Alynski's Rules for Radicals than #5 Ridicule.
You are the meme
Posted on 6/4/25 at 1:29 pm to Seldom Seen
quote:I'm calling Bravo Sierra on this. You are full of excrement.
Well they cost me thousands of dollars(and thousand more to come), I'm going to have less inventory now, I've had to lay off 3 employees already and I'm having to inform all my customers that we're going up on price. Basically putting my entire business at risk.
Posted on 6/4/25 at 1:29 pm to BlackAdam
quote:
The entire cost of business is built into an items price. Do you support higher minimum wage? Higher corporate taxes? Mandates leave?
All of those things could cause prices to consumers to rise. Why is your feigned concern restricted to tariffs?
I can't imagine a conservative being in favor of any of those things in our current climate. What is your point?
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