Bessent: US Tariff Revenue Could Top $500B a Year

[22lcidw]

Yet the debt just hit 38 trillion an increase of one trillion from 37 trillion in July.

So, what was the yearly deficit before Covid? Evidently it was acceptable y our government decrees. Two trillion-dollar deficits reduced to several hundred billion dollars may be a goal. Did your 95% Progressive Socialist Communist media entertainment industry question the deficits under Joe? Tell us what Colbert said. Only fools listen to the politically aligned comedic shills to even start. And sorrowfully, many citizens do.

 

[Moonglow]

Key Facts:

• In fiscal year 2022, federal tax revenues reached a record-high of $4.9 trillion– $1.6 trillion or 48 percent higher than when the Trump tax cuts were passed and $884 billion higher than CBO’s projections for 2022.
  • Corporate tax revenues reached a record-high of $425 billion – $128 billion or 43 percent higher than when the Trump tax cuts were passed and $72 billion higher than CBO’s projections for 2022.
  • Individual tax revenues reached a record-high of $2.6 trillion – over $1 trillion or 66 percent higher than when the Trump tax cuts were passed and $642 billion higher than CBO’s projections for 2022.
  • On average, revenues increased $205 billion per year over CBO’s projections.
• In the first two years after passage of the Trump tax cuts, GDP growth was a full percentage point higherthan CBO’s pre-TCJA forecast.
  • According to the White House Office of Management and Budget, every additional one percent of sustained GDP growth will result in $600 billion in new revenues over 5 years and $2.8 trillion over 1

You don't have any links, which makes yer post one that is plagiarism.

US government revenue increased during the Biden administration, largely driven by economic growth and high inflation

Financial Report of the United States Government - Management

www.fiscal.treasury.gov

 

[Moonglow]

So, what was the yearly deficit before Covid? Evidently it was acceptable y our government decrees. Two trillion-dollar deficits reduced to several hundred billion dollars may be a goal. Did your 95% Progressive Socialist Communist media entertainment industry question the deficits under Joe? Tell us what Colbert said. Only fools listen to the politically aligned comedic shills to even start. And sorrowfully, many citizens do.

Joe is not the president; right now, the president, who is always right about everything, is in charge.

 

[Hafar1014]

You don't have any links, which makes yer post one that is plagiarism.

US government revenue increased during the Biden administration, largely driven by economic growth and high inflation

Financial Report of the United States Government - Management

www.fiscal.treasury.gov

Despite CBO’s Predictions, Trump Tax Cuts Were a Boon for America’s Economy and Working Families | The U.S. House Committee on the Budget - House Budget Committee

The Official U.S. Congressional website of The Republican Budget Committee

budget.house.gov

 

[Crepitus]

That's not how it works, stupid.

But it is.

Unless you can show differently?

 

[Moonglow]

Trump is blowing through money like a drunk sailor.

 

[Crepitus]

Despite CBO’s Predictions, Trump Tax Cuts Were a Boon for America’s Economy and Working Families | The U.S. House Committee on the Budget - House Budget Committee

The Official U.S. Congressional website of The Republican Budget Committee

budget.house.gov

Non partisan sources disagree.

 

[Hafar1014]

You don't have any links, which makes yer post one that is plagiarism.

US government revenue increased during the Biden administration, largely driven by economic growth and high inflation

Financial Report of the United States Government - Management

www.fiscal.treasury.gov

Despite CBO’s Predictions, Trump Tax Cuts Were a Boon for America’s Economy and Working Families | The U.S. House Committee on the Budget - House Budget Committee

The Official U.S. Congressional website of The Republican Budget Committee

budget.house.gov

Trumps tax cuts were still in effect. Inflation isnt growth you dont understand your own post

 

[Foxfyre]

U.S. Treasury Secretary Scott Bessent said Tuesday that customs duty revenues from President Donald Trump's tariffs may surpass $500 billion a year, with a substantial jump from July to August and likely a bigger jump in September.

Bessent told a White House Cabinet meeting that his prior estimate of a $300 billion annual tariff collection rate was too low.

"We had a substantial jump from July to August, and I think we're going to see a bigger jump from August to September," Bessent said. "So I think we could be on our way well over half a trillion, maybe towards a trillion-dollar number. This administration, your administration, has made a meaningful dent in the budget deficit."

Tariff revenue would offset the deficit increases triggered by the Republicans' tax-cut and spending bill passed this year. CBO estimated this bill would widen the deficit by $3.4 trillion over the next decade.

Trump's tariffs drove July U.S. customs duty collections up by nearly $21 billion from the $7 billion collected in July 2024 and about even with the $20 billion increase registered in June. Significant increases in tariff rates for nearly all trading partners kicked in on August 7.

https://www.newsmax.com/finance/streettalk/scott-bessent-tariff-revenue/2025/08/26/id/1224027/?ns_mail_uid=8b9eb87a-9dca-4572-9849-d1110f8f0987&ns_mail_job=DM830146_08262025&s=acs&dkt_nbr=010504m6yown

BJ-
The new Golden Age
America is back.

They were discussing that this morning on Fox Business News. I posted earlier this week--can't remember where--that the CBO now estimates that the tariffs will produce $1 Trillion in treasury revenues over the next 10 years. Based on recent history that number may be way too low too.

All the bruhaha, even from some Patriots here at USMB, about the big beautiful bill swelling the deficit seems to be misplaced. The economy is doing well, energy and housing costs are coming down a bit and would do a lot better if Powell cuts interest rates. And inflation is low and holding steady.

I'm optimistic.

 

[LAUGHatLEFTISTS]

The fact that Trump can unilaterally increase taxes by $500 billion per year screams that it’s unconstitutional.

Yes! Because leftists have always hated tax increases!

 

[Foxfyre]

The debt just went to 38trillion

We are still running on a Biden budget and will until October.

 

[Moonglow]

We are still running on a Biden budget and will until October.

Nope, Trump tore up the budget and is with holding funds.did you not notice the DOGE dodge in the first two quarters? Trump is spending billions a day in his military takeovers and ICE budgets.

 

[TNHarley]

Is there any other type of Leftist?

Weird thing is, yall are certainly behaving like leftists.

 

[Hafar1014]

They were discussing that this morning on Fox Business News. I posted earlier this week--can't remember where--that the CBO now estimates that the tariffs will produce $1 Trillion in treasury revenues over the next 10 years. Based on recent history that number may be way too low too.

All the bruhaha, even from some Patriots here at USMB, about the big beautiful bill swelling the deficit seems to be misplaced. The economy is doing well, energy and housing costs are coming down a bit and would do a lot better if Powell cuts interest rates. And inflation is low and holding steady.

I'm optimistic.

1 Trillion a year is more like it

 

[kyzr]

Tell Bessent. It’s his prediction.

LIAR. The tariffs are primarily paid for by the importers.

 

[Foxfyre]

1 Trillion a year is more like it

Coupled with the tax reforms, once the results of those fully kick in, I wouldn't doubt it. I think we're looking at the very real possibility of a balanced budget by the time his term is over this time. Unless they're able to conjure up another COVID scare or something to derail everything. I'm sure they're looking for something for the midterms and certainly 2028.

 

[Marener]

LIAR. The tariffs are primarily paid for by the importers.

Technically they’re all paid by the importers.

The thing you don’t understand is that the importers are all Americans.

 

[Hafar1014]

LIAR. The tariffs are primarily paid for by the importers.

Correct they have to sell in a free market and we can refuse to buy. Prices come down

 

[kyzr]

Technically they’re all paid by the importers.
The thing you don’t understand is that the importers are all Americans.

I'm fine with that. As long as we get a surplus and start paying down the $37T debt and save the US dollar as the reserve currency, the tariffs are doing their job.

 

[Marener]

Correct they have to sell in a free market and we can refuse to buy. Prices come down

If you refuse to buy imported prosecut

I'm fine with that. As long as we get a surplus and start paying down the $37T debt and save the US dollar as the reserve currency, the tariffs are doing their job.

If you are fine with that, why did you try to deny it?

Odd that you include saving the dollar as the world currency given Trump's policy seems intended to harm that.

My point that about this being unconstitutional stands.