Where does the increased tariff revenue go?

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  1. jackclee lm profile image81
    jackclee lmposted 9 months ago

    The Trump administration is increasing tariff to 25% with trade with China. This should bring in much $$$ to the treasury. Where does this money go?
    Shouldn’t this reduce our national debt?
    Yet, we still see deficits year after year...why?
    Where is the extra spending?
    We need accountability for all the revenues and expenses...
    Out debt is rising to a staggering $22 trillion...

    1. jackclee lm profile image81
      jackclee lmposted 9 months agoin reply to this

      At a time of record employment..., increased economic activity, reduced regulations and huge oil export...why are we still having deficits?
      It makes little sense that our government spending just keep rising.
      You can make the case when we were in a recession that the government would use spending to help the poor and jump start the economy. That argument does not fly when the economy is roaring...
      Why is the federal government spending beyond its means?

      1. Castlepaloma profile image74
        Castlepalomaposted 9 months agoin reply to this

        There are dozens of ways to pay off the national debt, yet the Goverment won't do them.

        This way, the only real God, is the Government and the United States of Corporations since 1871, now becoming a reality.

        I Honor every promise I make and won't work with anybody, who won't keep their promise, why should anybody?
        I won't see the national debt paid off, nor my kids, by a logical guess.

        Trump boast about the US economy. At the sacrifice and threat to the natural environment and revamping the Nuclear arms race. This is Treason.

        . Trump promise to eliminate the national debt in 8 years. He is near the pace of a trillion $ every year increasing it since 2007.
        So more Lies
        .Trump gave a UN speach claiming US economics has been the best in American history under Trump. UN Crowd laughing to ensure the Lie.

        .Even at Trump phony number unemployment 3.6. That won't balance out With his 2.5 GDP GROWTH. He promised 6.00 GDP growth, as he will need that to pay off the national debt - Trump lies
        .Real GDP growth under Trump lagged Bill Clinton, Jimmy Carter, Lyndon Johnson and John Kennedy, and tied George H.W. Bush.
        Trump lies

        .Trump promise to beat Obama growth at 2.9 GDP percent, peak 2015. Trump Lies

        Trump states US are one of the fastest growing economies in the world. Let's compare that lie.
        Ethephia GDP growth 2018: 7.9 GDP
        Rwanda GDP growth 7.6%
        India GDP 7.3
        China 6.9
        About 50 other countries doubled US GDP growth rate.

        I do remember a time when the US was the fastest growing nation in the world. Trump is far from making America great again.

        1. jackclee lm profile image81
          jackclee lmposted 9 months agoin reply to this

          You didn’t answer my question. It is obvious you are not a fan of Trump...why don’t you provide the Democratic solution?

          1. Castlepaloma profile image74
            Castlepalomaposted 9 months agoin reply to this

            Trump is just the worst ever as far as leaders or politicians.

            I recommend a totally clean
            of house of all these minions and greedy criminals from both sides.  The people are the Boss, not them. Or carry on like sheep and have them destoy everyone's integrity and further their mission of economics salvery. My generation have experience from Kennedy to all President progressively keep getting worst. 

            I post many life solution for many things because I can't find a better leader than me, for me. Then go out and share it all. People consciousness forces positive change, when they have been abused too much by these greedy monsters and their minions puppets

            1. jackclee lm profile image81
              jackclee lmposted 9 months agoin reply to this

              Trump may not be perfect but he is by no means the worst...
              He is better than most of the swamp in DC who has been there decades and gotten wealthy and done very little to help the American people. In his two and half years, Trump has done more than most other politicians in my lifetime.

              1. Castlepaloma profile image74
                Castlepalomaposted 9 months agoin reply to this

                Maybe Trump is a good thing. It's showing more clearly how evil American and Israel wealthy, really are.

                1. jackclee lm profile image81
                  jackclee lmposted 9 months agoin reply to this

                  What? Where does that come from? Are you anti-semetic? Are you a supporter of Farrakhan?

                  1. Castlepaloma profile image74
                    Castlepalomaposted 9 months agoin reply to this

                    I've said often, I'm not against or hate anyone or group. Although I am not for countries like Israel who have 100% wars since becoming a nation. Of US haveing had wars 96%  of the time since 1776.

                    There are survey claim US and Israel are the most hated counties in the world. Still everybody is no better or worst to me in my world the end result is love and peace.

    2. Onusonus profile image78
      Onusonusposted 9 months agoin reply to this

      Tariffs never work. And the people never benefit from whatever stupid government program it will supposedly fund. Republicans wanted financial responsibility until the day Trump got elected.

    3. peoplepower73 profile image93
      peoplepower73posted 9 months agoin reply to this

      Jack:  The question should be, where does the money come from to pay tariffs?  The answer is from the importers.  It then is collected by the Customs and Border Patrol agency and then sent to the Department of Commerce to be given to the government to do with what they will. 

      Since the importers are paying more for goods and services, they pass that cost on to the consumers.  So when Trump says there are massive payments coming in on the 25% tariffs on 250 billion, what he is really saying is our importers are paying those massive payments to our own government.

      To answer your question of why we don't pay off the national debt of 22 trillion is because we are a debtor nation and have been since the Civil War.  Each president inherits the debt created by the previous administration and then adds to it.  No telling where Trump's debt will end, but  you can be certain that the next president will inherit that debt.

      1. jackclee lm profile image81
        jackclee lmposted 9 months agoin reply to this

        Can you explain why the federal government keeps spending more than it takes in by way of taxes and fees and tariffs? This happens during recession which may be explained or justified...but to happen during economic boom when we have a record revenue and more people working and paying taxes...how do you square that?

        1. wilderness profile image96
          wildernessposted 9 months agoin reply to this

          Two reasons:

          1.  We overspend our income (deficit) by far more than the increase in that income under Trump.  That we take in more does not mean that it is enough to eliminate the deficit.

          2.  More importantly, when receipts go up by X amount it appears to mean to the politicians that spending should go up by 2X.  The obvious result is that the deficit not only never goes away it grows.

          1. jackclee lm profile image81
            jackclee lmposted 9 months agoin reply to this

            Here is where we need to hold politicians like Pelosi responsible. She as Speaker of the House controls the purse strings...she wants no money to build a wall but would fund everything else under the sun...

        2. peoplepower73 profile image93
          peoplepower73posted 9 months agoin reply to this

          Jack:  The economic boom is based on low unemployment numbers, not on what government expenses are versus income. The government expenses are more than their revenue and include interest on loans to countries like China. 

          The government's annual budget is based on a credit card metaphor.  Every fiscal year we pay for what was spent the previous fiscal year and the budget ceiling is increased to forecast what the government is going to spend for the next fiscal year.  In addition it pays the interest on what it has already borrowed from countries like China. 

          When congress shuts down the government because they don't want to raise the debt ceiling, it is an exercise in futility because we have pay the previous years expenses that are on that credit card.  If we don't pay it or credit rating goes down on the world market of which that has happened in the past.

          Here is the link to the National Debt Clock. Roll the mouse over any item to read the description in the top center window.

          https://www.usdebtclock.org/

          1. jackclee lm profile image81
            jackclee lmposted 9 months agoin reply to this

            I am familiar with how deficits come about. It does not explain why deficits don’t go down when we are getting record high revenues and when the safety network required for the poor is at a record low.
            I hope you understand my dilemma.
            This is not a democratic or republican issue but a financial responsibility issue. Why can’t we make a dent of reducing deficits and the debt???

            1. peoplepower73 profile image93
              peoplepower73posted 9 months agoin reply to this

              Jack:  This is from the U.S. Federal Budget Breakdown.

              On March 11, 2019, President Donald Trump released his budget request for fiscal year 2020. Under his proposal, the federal budget would be a record $4.746 trillion. The U.S. government estimates it will receive $3.645 trillion in revenue. That creates a $1.101 trillion deficit for October 1, 2019, through September 30, 2020.

              Here is the link:

              https://www.thebalance.com/u-s-federal- … wn-3305789

              1. Castlepaloma profile image74
                Castlepalomaposted 9 months agoin reply to this

                They are at above par of a trillion dollar deficit each year, since 2007. I can't imagine a plan to pay it back other than stealing from our old age pension.

      2. Castlepaloma profile image74
        Castlepalomaposted 9 months agoin reply to this

        Jackson was, in fact, the only president to preside over a total elimination of all remaining debt while having a balance budget.
        Jackson, who served from 1829-37, was an ardent supporter of keeping banks and government separated. He believed that banks would have undue influence on government, and he was hell-bent on eliminating the debt.

        Jackson watched that debt scale down to zero in 1835. According to the Treasury Department, the debt remained close to zero when Jackson left office.

        1. jackclee lm profile image81
          jackclee lmposted 9 months agoin reply to this

          Thanks for that bit of history. We need another Jackson to tackle the current deficits...

          1. Castlepaloma profile image74
            Castlepalomaposted 9 months agoin reply to this

            Kennedy was the last great attempt on the banks, yet was killed over it.

  2. Castlepaloma profile image74
    Castlepalomaposted 9 months ago

    Just take the US military that is 50% of the world's military budget. Bring it down 5% to be normal  to equal with US 5% of their per capita world's population.
    I guarantee that would make America great again. Than US citizen would not need guns to fear the tyranny of their Goverment. Or the US Government will continue being the leading terrorist of the wotld
    Like I say to my Lawyer, keep it simple stupid.

 
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