Correct. A tariff is a tax on imported goods. The money goes into the US treasury general affairs budget which can be used for just about anything. U.S. companies usually pass on at least part of the higher costs from tariffs to consumers.
And a few years after the "biggest tax hike in the history of the world," as many in the national GOP and right-wing pundits put it, there was not only a balanced budget, there were large surpluses "as far as the eye can see," as some national Republicans put it. Of course, the tax hike was coupled with substantial budget cuts.
Except for the plan to raise taxes, astute snalysis
Fun fact: Trump’s tariff hikes are the largest tax increase on Americans since 1993.
Correct. A tariff is a tax on imported goods. The money goes into the US treasury general affairs budget which can be used for just about anything. U.S. companies usually pass on at least part of the higher costs from tariffs to consumers.
And a few years after the "biggest tax hike in the history of the world," as many in the national GOP and right-wing pundits put it, there was not only a balanced budget, there were large surpluses "as far as the eye can see," as some national Republicans put it. Of course, the tax hike was coupled with substantial budget cuts.