Where does all the money that the government collects from tariffs go? What is used for? How is it spent?
Where does all the money that the government collects from tariffs go?
r/ask
Where does all the money that the government collects from tariffs go? What is used for? How is it spent?
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To the same pool all the other taxes go. It’s then spent on defense, social programs, paying interest on debt, and whatever else the goverment does.
I had an odd feeling yesterday that he is somehow going to try to pocket some of that, somehow. He keeps saying how we’ll all be rich…..
Ironically, many times it’s used to subsidize the losses sustained by domestic economic sectors impacted by retaliatory tariffs in other countries. For example, the US agricultural industry is very dependent on exports, and the USDA had to directly pay billions of dollars to US farmers impacted by Chinese retaliatory tariffs on US exports like soybeans back during in the 1st Trump presidency.