- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Trump announces External Revenue Service
Posted on 1/14/25 at 11:33 am to Mr Cell Phone
Posted on 1/14/25 at 11:33 am to Mr Cell Phone
quote:
Why don’t we start by taxing the billionaire and corporations.
Ah, another Reddit University graduate.
tAx ThE rIcH
As someone already noted, they pay the majority of taxes now you douchebag
0
Posted on 1/14/25 at 11:35 am to Proximo
Is he implying that there is no existing mechanism for collecting tariffs and such from external sources and now the government has to grow?
U.S. Tariff Policy: Overview
Congressional Research Service
Dec 19, 2024
How Is U.S. Tariff Policy Administered?
The Secretary of the Treasury is charged with establishing
regulations on the collection of tariffs and U.S. Customs
and Border Protection (CBP) administers those regulations
at U.S. ports of entry.
When a good enters a U.S. port of entry, merchandise is
classified and tariffs are assessed using the Harmonized
Tariff Schedule of the United States (HTSUS), a
compendium of tariff rates based on a globally standardized
nomenclature. Today, importers self-classify and declare
the value or quantity of their goods. CBP reviews the
paperwork, performs occasional audits, and then collects
any applicable tariffs or penalties as well as any
administrative fees. Finally, CBP deposits any revenue
from tariffs or other penalties into the General Fund of the
United States.
U.S. Tariff Policy: Overview
Congressional Research Service
Dec 19, 2024
How Is U.S. Tariff Policy Administered?
The Secretary of the Treasury is charged with establishing
regulations on the collection of tariffs and U.S. Customs
and Border Protection (CBP) administers those regulations
at U.S. ports of entry.
When a good enters a U.S. port of entry, merchandise is
classified and tariffs are assessed using the Harmonized
Tariff Schedule of the United States (HTSUS), a
compendium of tariff rates based on a globally standardized
nomenclature. Today, importers self-classify and declare
the value or quantity of their goods. CBP reviews the
paperwork, performs occasional audits, and then collects
any applicable tariffs or penalties as well as any
administrative fees. Finally, CBP deposits any revenue
from tariffs or other penalties into the General Fund of the
United States.
Posted on 1/14/25 at 11:41 am to Giantkiller
quote:A new govt bureaucracy? Figures this board would go for it.
This is an unbelievably good idea.
Posted on 1/14/25 at 11:42 am to Mr Cell Phone
quote:
Why don’t we start by taxing the billionaire and corporations.
LMAO. You think that isn't happening already?
Turn off the tv and get off DU and do some research and educate yourself.
Until then, you sound, look like, and are, an idiot.
Posted on 1/14/25 at 11:48 am to Proximo
Are we getting rid of the IRS and income taxes? If so, this is a great idea. If not, it's just more taxes.
Oh, BTW, spending is our problem. No revenue.
Oh, BTW, spending is our problem. No revenue.
Posted on 1/14/25 at 11:53 am to Mr Cell Phone
quote:
Mr Cell Phone
Melt bitch
We.do tax them, and they use the tax laws on the books to do their taxes...just like you
Posted on 1/14/25 at 11:57 am to Proximo
Yay! MOAR government! What if I told you we already have multiple government agencies to collect tariffs and regulate imports?
Posted on 1/14/25 at 11:59 am to Taxing Authority
quote:
MOAR government! What if I told you we already have multiple government agencies to collect tariffs and regulate imports?
who’s the idiot now? Sounds like LESS government to me with one central agency Posted on 1/14/25 at 11:59 am to Mr Cell Phone
quote:Because if you took every dollar in income above $1 million... you couldn't even balance the current budget.
Delusional is the only word I will use for this crazy idea . Why don’t we start by taxing the billionaire and corporations.
We don't have a revenue problem.Tariffs aren't going to balance the budget either. It's 100% spending.
Posted on 1/14/25 at 12:00 pm to GumboPot
quote:We could fund SS for almost an entire hour!
The external revenue service can start with taxing remittances 10% to foreign countries, especially Central and South American countries.
Posted on 1/14/25 at 12:02 pm to POTUS2024
quote:You're not supposed to ask this. It's part of the reality show experience. "He's doing something! Murica!".
Is he implying that there is no existing mechanism for collecting tariffs and such from external sources and now the government has to grow?
Posted on 1/14/25 at 12:03 pm to Proximo
quote:
who’s the idiot now? Sounds like LESS government to me with one central agency
Hey, I hear they are selling off bridges to balance the budget. You want to buy one?Posted on 1/14/25 at 12:04 pm to Mr Cell Phone
quote:
Delusional is the only word I will use for this crazy idea . Why don’t we start by taxing the billionaire and corporations.
We already do. Elon Musk says hello.
Posted on 1/14/25 at 12:28 pm to Taxing Authority
quote:
We could fund SS for almost an entire hour!
Would be about $15 billion. Definitely would be enough funding to finish the wall.
Also, SS is currently self sufficient by $300 billion.
This post was edited on 1/14/25 at 12:32 pm
Posted on 1/14/25 at 12:30 pm to Proximo
quote:
One of the issues the External Revenue Service will likely address is the de minimis loophole.
The de minimis loophole comes from back in the 1930s. The idea back then was, say you went on a vacation to Paris, you shouldn’t have to file customs paperwork or pay taxes if you decided to ship some little Eiffel Tower statues to your friends back home.
Congress in 2015 then raised the de minimis threshold from $200 to $800. However, the e-commerce world exploded, and Chinese companies began using the de minimis loophole to ship cheap goods (ex. Temu and Shein) into the USA direct to consumers without paying any customs duty.
It was reported last year that the U.S. was on track to receive a billion packages through the de minimis loophole that aren’t taxed and don’t have customs slips saying what they are. Making matters worse, illegal items are slipping through the cracks, including, knockoffs, unsafe items and even chemicals used to make fentanyl. The worst abuser that exploits this de minimis loophole is, by far, China.
President Trump can require a customs and duty declaration stating what is in every package and subsequently collect tariffs and duties.
Something tells me shutting down the de minimis issue is part of the background for this “ERS” announcement.
LINK
Posted on 1/14/25 at 12:30 pm to Mr Cell Phone
Your cell phone is brain dead.
Posted on 1/14/25 at 12:32 pm to GumboPot
quote:
One of the issues the External Revenue Service will likely address is the de minimis loophole.
frick. That.
Posted on 1/14/25 at 12:33 pm to Decatur
Don't worry. I'm sure Temu and Shein products won't increase in price that much.
Posted on 1/14/25 at 12:35 pm to Rebel
quote:
Roger the Shrubber is crying.
Youre a smart guy, I cant understand why you buy into this obvious bullshite. You've had economics classes, you know this is wrong.
You know as well as I know, his stances on trade are bad for the working man.
Hes determined to destroy our export economy.
This post was edited on 1/14/25 at 12:36 pm
Posted on 1/14/25 at 12:39 pm to GumboPot
I recently bought a $30 piece of metal that someone fabricated in Sweden. Customs will get bogged down to a full stop in they have to frick with very little knickknack that someone orders from overseas.
No thank you.
No thank you.
Page 3 of 6
Popular
Back to top
Follow TigerDroppings for LSU Football News