Trump's tariff revenue is on pace for another monthly record in June

[Edgetho]

Record sales tax increase! Congratulations! Never thought I would see the GOP praising raising taxes… of course this tax is more burdensome on the poor so now it makes sense.

You're against everybody paying their Fair Share™??

Since the Poor pay ZERO Income Tax, shouldn't they contribute in some other way? No? Yes?

And since Law Enforcement spends ten times as much time in poor neighborhoods as it does in Better Off Neighborhoods........ And since Property Taxes in poor neighborhoods is extremely low (or nonexistent) as are School Taxes. And since Ambulances spend 5 times as much time in poor neighborhoods, and since they seldom, if ever, pay Hospital Bills, and since they are a much bigger burden on society and contribute next to nothing already (except unwanted children).......

I guess your Fair Share™ theory, like all the rest of them, is a bunch of ******* bullshit

shocking

 

[citygator]

And yet, inflation is down.

Kinda ruins the talking point bullshit your handlers fed you, Simp.

I havent raised any of my prices at my company due to price increases yet but they are just now hitting. They will be in place around September. I dont think you guys understand how the supply chain works.

 

[SassyIrishLass]

I havent raised any of my prices at my company due to price increases yet but they are just now hitting. They will be in place around September. I dont think you guys understand how the supply chain works.

Lemonade going up from 50 cents to a dollar? Lol

 

[kyzr]

Sigh. Sometimes you guys say stuff that reminds me how you can be duped by someone as dumb as Trump. This is one of those times.
If you give a million people $1,000 they will spend that billion dollars in a week or two generating lots of economic activity.
If you give one person a $1B they will save the vast majority of those dollars.
That was a simple example but you have to understand how ridiculous your statement is. No wonder you think Trump is a genius.

What is that, some kind of communist proof? Here in the US we show data, and to no one's surprise the wealthy buy more stuff than the lower income folks, duh.

A Better Way of Understanding the US Consumer: Decomposing Retail Spending by Household Income

The Federal Reserve Board of Governors in Washington DC.

www.federalreserve.gov

 

[LAUGHatLEFTISTS]

Sure. Because a 10% tariff is going to move production from low cost no rules shitholes to here. What are you smoking?

You’re losing again. It’s fantastic.

 

[citygator]

What is that, some kind of communist proof? Here in the US we show data, and to no one's surprise the wealthy buy more stuff than the lower income folks, duh.

A Better Way of Understanding the US Consumer: Decomposing Retail Spending by Household Income

The Federal Reserve Board of Governors in Washington DC.

www.federalreserve.gov

OMG.

Honestly I do like the fact that you tried and even looked into linking some data. Those are both really good steps. However:

The savings rate is what you need to look at.

• If you give a rich person $1,000 they will spend $880 and save $120.
• If you give anyone under the top 25% $1,000 they will spend $1,000 and save nothing.

The fact that rich people have all the money to spend means nothing related to what they do if you increase the money they have. That is what we are talking about. I am proud of you for going all in here but in this case I am right. It’s a simple thing to mix up and i shouldn’t have been so hard on you last post.

 

[kyzr]

Honestly I do like the fact that you tried and even looked into linking some data. Those are both really good steps. However:
The savings rate is what you need to look at.

• If you give a rich person $1,000 they will spend $880 and save $120.
• If you give anyone under the top 25% $1,000 they will spend $1,000 and save nothing.

The fact that rich people have all the money to spend means nothing related to what they do if you increase the money they have. That is what we are talking about. I am proud of you for going all in here but in this case I am right. It’s a simple thing to mix up and i shouldn’t have been so hard on you last post.

Its not the savings rate that we are discussing, its the spending rate on items that get hit with tariffs.

Lower incomes do not have much money left to spend after paying for housing and food, i.e. the necessities, especially after Biden's horrible 4-years. Your own graph shows a negative saving rate, so they have no money to buy imported goods.

Tariffs Hit Low-Income Households Hardest, Pose Constitutional Questions

www.law.georgetown.edu

The difference in household grocery spending illustrates the impact of inflation, as households in the lowest income quintile spent an average of $5,278 on food in 2023, which represented 32.6 percent of their after-tax income.[5] Meanwhile, households in the highest income quintile spent an average of $16,996 on food, but that sum represented only 8.1 percent of their after-tax income.[6] Therefore, tariffs on food products have a disproportionate impact on the daily budgets of low-income households.

So just using food, the wealthy pay 3x more tariffs than lower incomes, not even considering big ticket items like cars.

 

[Thinker101]

Record sales tax increase! Congratulations! Never thought I would see the GOP praising raising taxes… of course this tax is more burdensome on the poor so now it makes sense.

Sales tax is governed by state...dumbass.

 

[citygator]

Its not the savings rate that we are discussing, its the spending rate on items that get hit with tariffs.

Lower incomes do not have much money left to spend after paying for housing and food, i.e. the necessities, especially after Biden's horrible 4-years. Your own graph shows a negative saving rate, so they have no money to buy imported goods.

Tariffs Hit Low-Income Households Hardest, Pose Constitutional Questions

www.law.georgetown.edu

The difference in household grocery spending illustrates the impact of inflation, as households in the lowest income quintile spent an average of $5,278 on food in 2023, which represented 32.6 percent of their after-tax income.[5] Meanwhile, households in the highest income quintile spent an average of $16,996 on food, but that sum represented only 8.1 percent of their after-tax income.[6] Therefore, tariffs on food products have a disproportionate impact on the daily budgets of low-income households.

So just using food, the wealthy pay 3x more tariffs than lower incomes, not even considering big ticket items like cars.

You have lost track of the argument and just proved me correct. As a reminder here is what we are arguing:

We are arguing that the tax is MORE BURDENSOME ON THE POOR. As you just correctly pointed out, thank you. If you have NO MONEY the burden of increased prices hits you harder.

Walmart is the nation’s number one importer and we all know how rich people are affected by Walmart’s price increases.

 

[WEATHER53]

The market understood the tariffs were mostly used as a bargaining chip.
Those who wish to pay them will pay; others can discuss new deals.
New agreements were renegotiated, with the United Kingdom being one of the significant ones.
We’re making progress with China.
The US-Canada talks are back on after Ottawa dropped the digital services tax.

Additionally, CNBC reported that $121 billion has been brought into the United States through the tariff policy, with the stock market reaching a historic high yesterday.

Lib loons so so very wrong once Again with their gleeful declarations of the collapse of the stock market. They are broke mentally morally and monetarily to wish for the things they do

 

[kyzr]

You have lost track of the argument and just proved me correct. As a reminder here is what we are arguing:

View attachment 1131102

We are arguing that the tax is MORE BURDENSOME ON THE POOR. As you just correctly pointed out, thank you. If you have NO MONEY the burden of increased prices hits you harder.
Walmart is the nation’s number one importer and we all know how rich people are affected by Walmart’s price increases.

1. My statement that "the rich buy way more stuff than the poor," and are burdened with more with tariff/tax is true.

2. If you interpret that the poor pay a higher percentage of their income on tariffs, I can agree with that as well.

 

[citygator]

1. My statement that "the rich buy way more stuff than the poor," and are burdened with more with tariff/tax is true.

2. If you interpret that the poor pay a higher percentage of their income on tariffs, I can agree with that as well.

1. We will simply disagree on the definition of "burdened" then.
2. Fine with me.

 

[Nostra]

Sigh. Sometimes you guys say stuff that reminds me how you can be duped by someone as dumb as Trump. This is one of those times.

If you give a million people $1,000 they will spend that billion dollars in a week or two generating lots of economic activity.

If you give one person a $1B they will save the vast majority of those dollars.

That was a simple example but you have to understand how ridiculous your statement is. No wonder you think Trump is a genius.

Who does the giving?

 

[Crepitus]

Record tariffs collected. Will this ensure U.S manufacturing returns? In high-tech this is important. Also, how much of a break will the U.S give China on tariffs in any trade deal which China will eventually break anyways? If he cuts tariffs to China he is not only doing China a major favor for a deal they won't honour, but also hurting the U.S treasury. MSN.
President Trump's tariffs are pouring billions more into US coffers in June, putting the revenue supplied by importers on pace for another monthly record.


The latest measure of government receipts for "Customs and Certain Excise Taxes" stood at almost $27 billion for the month of June, according to the Treasury Department’s latest daily statement dated June 25.

All he's doing is bilking Americans of their hard earned money.

 

[Crepitus]

The rich buy way more stuff than the poor dumbass.

Not really when you think about it. There are very few rich people, there are millions and millions of poor ones.

 

[Crepitus]

You have lost track of the argument and just proved me correct. As a reminder here is what we are arguing:

View attachment 1131102

We are arguing that the tax is MORE BURDENSOME ON THE POOR. As you just correctly pointed out, thank you. If you have NO MONEY the burden of increased prices hits you harder.

Walmart is the nation’s number one importer and we all know how rich people are affected by Walmart’s price increases.

View attachment 1131103

 

[Nostra]

Not really when you think about it. There are very few rich people, there are millions and millions of poor ones.

And yet those few rich people pay a shit-ton more taxes than the millions of poor people……..and that still isn’t fair to you.

 

[Crepitus]

And yet those few rich people pay a shit-ton more taxes than the millions of poor people……..and that still isn’t fair to you.

No, they don't.

 

[Nostra]

No, they don't.

Really?

You give us some numbers.

What percentage of the tax bill does the top 1% pay? Top 10%? Top 25%

Watch this.

 

[citygator]

Who does the giving?

?