News: FYI:  We have three websites in our inventory: onnidan.com - news, recaps, blogs, black college sports page | onnidan1.com - this forum  | onnidan2.com - composite hbcu football schedule


Author Topic: Trump’s tariffs are equivalent to one of the largest tax increases in decades  (Read 70 times)

Offline Olde Hornet

  • Assistant GM
  • *****
  • Posts: 7,699
    • View Profile
https://www.cnbc.com/2019/05/16/trumps-tariffs-are-equivalent-to-one-of-the-largest-tax-increases-in-decades.html

A CNBC analysis of data from the Treasury Department ranks the combined $72 billion in revenue from all the president’s tariffs as one of the biggest tax increases since 1993. In fact, the tariff revenue ranks as the largest increase as a percent of GDP since 1993 when compared with the first year of all the revenue measures enacted since then, according to the data.

Only the revenue raised in the fourth year of the Affordable Care Act is greater, but not by much.

The nonpartisan Tax Foundation estimates all the tariffs enacted by the president, including the latest increase from 10% to 25% on $200 billion on Chinese goods, will raise $72 billion in revenue, equal to 0.34% of U.S. gross domestic product. Revenue raised in the first year of the 1993 budget and reconciliation act equaled 0.36% of GDP.
Olde Bama State Spirit!
Alabama State University

Offline Maroon and Gray

  • Assistant GM
  • *****
  • Posts: 27,590
  • Head Coach
    • View Profile
and not a tax that you can deduct on your return

Offline TSU/BAMA

  • Head Coach
  • ****
  • Posts: 302
    • View Profile
Re: Trump’s tariffs are equivale
« Reply #2 on: May 16, 2019, 07:47:53 PM »
Well, you get what you vote for. (or if you did not vote at all).

 

2019 Onnidan HBCU Composite Football Schedule

Support Our Efforts

Support our efforts

With all the divisive rhetoric on social media outlets like Facebook and Twitter, websites such as ours, especially message boards, are under the watchful eye of the Internet giants. And those giants are coming down hard on sites like this one due to the perception of the need for better "oversight".

We recognize the cultural conflict that exists and over the past few months we've been accused of allowing content in posts/threads that supposedly violates some advertiser's policies. Those threads weren’t an issue in the past, but for some reason, they are an issue now. And we are being penalized (financially) because of it.

 

As a result we are coming to you directly for your financial support>

 

Please consider supporting our efforts to foster free and open discussion of current issues as they relate to the topics you are interested in.

=OW=

 


 

Onnidan's HBCUSports Logo
News

 

 

Powered by EzPortal