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RE: LeoThread 2025-02-08 08:07

in LeoFinance8 months ago

Part 5/8:

In 2022, U.S. imported around $3.35 trillion in goods, yielding a mere $11 billion in tariffs. To keep pace with the previous income tax revenue, the tariffs would have to be increased astronomically—suggesting a hypothetical 130% tariff on all goods. This is seen as impractical, raising concerns about its viability without corresponding government spending cuts.

The Challenges of Implementing Tariffs

Transitioning to tariffs as a primary revenue source raises additional complexities:

  • Economic Impact: Higher tariffs could lead to inflated prices for consumers, as businesses might pass the costs onto buyers, further complicating the issue of inflation already present in the economy.