Hi, Shrewd!        Login  
Shrewd'm.com 
A merry & shrewd investing community
Best Of MacroBest OfAll BoardsThe Shrewd’m WeeklyLearn to InvestHow to Become Shrewd
Search
Shrewd'm.com Merry shrewd investors
Search
Best Of MacroBest OfAll BoardsThe Shrewd’m WeeklyLearn to InvestHow to Become Shrewd


The week's question
In December 2024, in the thread "Re: BRK: Why Not XOM?", BreckHutHigh asked the members: "What about the long road trips with kids?" This week it is put to everyone again. The button below opens the small thread re-asking it - read what others have said so far, then give your own answer as an ordinary reply.
Answer this questionContinue to Shrewd'mThis note won't appear again
Personal Finance / Macroeconomic Trends & Risks
Unthreaded | Threaded | Whole Thread (23) |
Author: lizgdal   😊 😞
Number: of 4460 
Subject: Re: 6-3 Scotus Decision Strikes Down Trump Tariffs
Date: 02/21/26 11:43 AM
Post New | Post Reply | Report Post | Recommend It!
No. of Recommendations: 3
So far in FY 2026, customs duties are only about $120B (6.6% of revenues). The FY25 deficit was $1800B.

"Most of the revenue the U.S. government collects comes from contributions from individual taxpayers, small businesses, and corporations through taxes. Additional sources of tax revenue consist of excise tax, estate tax, and other taxes and fees. So far in FY 2026, individual income taxes have accounted for 52% of total revenue while Social Security and Medicare taxes made up another 32%."
fiscaldata.treasury.gov - Government revenue

Increasing U.S. consumption taxes is sensible. Tariffs are one way (Congress could take this wrong way), or a base national sales tax that is refunded to the state governments. Forty-five states have a sales tax.

"The United States relies much less on consumption taxes than other OECD countries. Taxes on goods and services accounted for only 16.8 percent of total US tax revenue, compared to 31.1 percent in the OECD. This is because all OECD countries, except the United States, levy value-added taxes (VAT), usually at relatively high rates. State and local sales tax rates in the United States are relatively low by comparison, but they are on a different tax base."
taxfoundation.org - US tax revenue by tax type
Post New | Post Reply | Report Post | Recommend It!
Print the post
Members reply directly to lizgdal here — and replies get answered. Reading is free; so is joining the conversation. Join Shrewd'm »
This community has written 4,454 posts about Macroeconomic Trends & Risks. The article-length ones it recommended most:
AI Tarpits · 36 recs · 2026
End of an era - profit slowdown · 36 recs · 2023
Control Panel: Trend changes in 2026 · 34 recs · 2026
From the Oregon Bay Area (a blogger) · 33 recs · 2025
Lerner Symmetry Theorem · 32 recs · 2025
Unthreaded | Threaded | Whole Thread (23) |


Announcements
Macroeconomic Trends & Risks FAQ
Contact Shrewd'm
Contact the developer of these message boards.

Best Of Macro | Best Of | Favourites & Replies | All Boards | Followed Shrewds | Open Questions | Moving a community