pull down to refresh

Revenues from Tariffs Spiked to $23 Billion in May, up by 168% (wolfstreet)wolfstreet.com/2025/06/02/revenues-from-tariffs-spiked-to-23-billion-in-may-up-by-168-in-3-months/
591 sats \ 9 comments \ @optimism 3 Jun econ
Collections from customs and certain excise taxes spiked by $6.5 billion, or by 37.5%, in May from April, to $24.0 billion, nearly triple the average monthly collections in 2024 ($8.2 billion), according to the Treasury Department’s daily data today.
Tariffs are taxes paid by businesses – some of the biggest of which pay little nor no income taxes in the US. Total corporate income tax receipts amounted to only $507 billion in 2024, or about 12.5% of the $4.1 trillion in pre-tax corporate profits, according to data from the Bureau of Economic Analysis. And an additional $190 billion in tariffs per year would be an increase of 37% of the taxes paid by corporations.
Let's monitor how this particular aspect goes:
But passing them on to consumers will be tougher because consumers have woken up, and they hate, hate, hate higher prices, and they have had it, and companies have had to cut many goods prices in 2023 and 2024 to prevent losing sales.
write
preview
related posts
155 sats \ 1 reply \ @Undisciplined 3 Jun
Consumers have always hated higher prices, which is why the "pass on to consumers" thing has always been a myth. Tax incidence always falls on both producers and consumers, and neither ever likes it.
reply
21 sats \ 0 replies \ @optimism OP 3 Jun
Yeah... I wonder why that is, haha.
reply
100 sats \ 3 replies \ @guerratotal 3 Jun
Tariffs are just another form of stealth taxation. When corporations dodge income taxes, the system finds another way to extract value — this time at the border. But let’s be clear: tariffs don’t hurt the corporations in the long run; they hurt the people. They distort markets, raise friction, and punish productivity.
It’s fascinating how fiat systems always end up feeding on themselves — squeezing producers, consumers, and entrepreneurs until there’s nothing left but debt, inflation, and trade barriers.
Bitcoin fixes this. A neutral, borderless monetary network with no central authority, no tariffs, no manipulation. Just voluntary exchange. The more the fiat system tightens its grip, the more people wake up to the alternative.
reply
0 sats \ 2 replies \ @optimism OP 3 Jun
But wouldn't it be reasonable to think that if they can't print money, that taxes will go up even more?
reply
21 sats \ 1 reply \ @guerratotal 3 Jun
Yep, exactly. If they can’t print, they’ll squeeze harder with taxes. That’s how fiat works—always shifting the burden to the people. Another reason why Bitcoin matters.
reply
0 sats \ 0 replies \ @optimism OP 3 Jun
I can't really imagine an outcome where the current form of governance, with huge, inefficient, warring nation states, will be capable to deal with a situation where they can't print or tax excessively.
To this day I see Bitcoin as a tool for the people, not states, not corporations: Bitcoiners opting out of the larger system, not the larger system opting in to Bitcoin. I don't really see a need for all-encompassing adoption.
reply
100 sats \ 2 replies \ @BlokchainB 3 Jun
Still a drop in the bucket on what is needed to close this massive deficit spending the government does.
reply
84 sats \ 1 reply \ @optimism OP 3 Jun
Yeah... If I go by the interest expense data from the treasury dept ($101B in April) then, with a 4.2x in tariff income and Rand Paul's wet dream of 0 deficit added, the interest on debt can be covered by this. lol.
reply
21 sats \ 0 replies \ @BlokchainB 3 Jun
Hahaha pipe dream
reply