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Entry Submitted by LIS Capt. at 9:45 AM ET on June 3, 2025
In this morning’s Restored Republic, Judy reports the following and credits Charlie Ward:
- “Trump’s ERS will collect funds directly from foreign imports and offshore profiteers. That means massive tariffs on Chinese goods, Mexican produce, foreign oil, European alcohol, luxury yachts — the parasites that fed off us for decades. Now THEY pay. Not YOU.”
I believe there is a basic misunderstanding regarding tariffs and who pays them.
From the Tax Policy Center at What Is A Tariff And Who Pays It? | Tax Policy Center
- “A tariff is a tax on imported goods. Despite what the President says, it is almost always paid directly by the importer (usually a domestic firm), and never by the exporting country…the importer remits the tariff to its nation’s customs service…A business will, if it can, pass its higher after-tax costs on to consumers.” (emphasis added).
Other economic sites – BNN Bloomberg and the Wilson Center as examples – concur with the above. (How Do Tariffs Work? Who Pays, Who Collects and More and Tariffs 101: What Are They, Who Foots the Bill, and Who Wins (if anyone)? | Wilson Center)
So, despite all the excitement about the predicted demise of the IRS and it being replaced by the “External Revenue Service,” in reality it is we, the consumers, who wind up footing the tariff bill through the higher prices we pay on imported goods.
Until we can obtain definite proof that We The People won’t be subjected to the tariff tax, let’s put a damper on the excitement and make sure we do our research!
LIS Capt.
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