Preston Brashers

Yeah. So, I mean, tariffs are a form of tax, but they're tax on products that are crossing into the United States from other countries. And so, this has been part of the The way that the United States has raised revenues from the outset, it used to be a much larger part of the US revenues back before we had an income tax.

Yeah. So, I mean, tariffs are a form of tax, but they're tax on products that are crossing into the United States from other countries. And so, this has been part of the The way that the United States has raised revenues from the outset, it used to be a much larger part of the US revenues back before we had an income tax.

Yeah. So, I mean, tariffs are a form of tax, but they're tax on products that are crossing into the United States from other countries. And so, this has been part of the The way that the United States has raised revenues from the outset, it used to be a much larger part of the US revenues back before we had an income tax.

Since the income tax has come into existence, tariffs have become a much smaller portion of what we have. But tariffs can be, they're opposed on both intermediate goods, so you can talk about manufacturers that might have some inputs that they're buying from overseas. So, it can have some effect on domestic manufacturers as well.

Since the income tax has come into existence, tariffs have become a much smaller portion of what we have. But tariffs can be, they're opposed on both intermediate goods, so you can talk about manufacturers that might have some inputs that they're buying from overseas. So, it can have some effect on domestic manufacturers as well.

Since the income tax has come into existence, tariffs have become a much smaller portion of what we have. But tariffs can be, they're opposed on both intermediate goods, so you can talk about manufacturers that might have some inputs that they're buying from overseas. So, it can have some effect on domestic manufacturers as well.

But it also is going to hit consumer products, and obviously, we purchase a lot of consumer products from China. Think your smartphones, laptops. Although, it should be noted that President Trump The 225% tariffs, he's put some exemptions in place.

But it also is going to hit consumer products, and obviously, we purchase a lot of consumer products from China. Think your smartphones, laptops. Although, it should be noted that President Trump The 225% tariffs, he's put some exemptions in place.

But it also is going to hit consumer products, and obviously, we purchase a lot of consumer products from China. Think your smartphones, laptops. Although, it should be noted that President Trump The 225% tariffs, he's put some exemptions in place.

Some of these products, some of these intermediate goods, they're making consideration for some of these things that perhaps could have a deep and immediate impact. They're trying to be mindful about this, I think, but obviously this is a huge step that the administration has taken. They're not wasting any time and kind of trying to address these China issues.

Some of these products, some of these intermediate goods, they're making consideration for some of these things that perhaps could have a deep and immediate impact. They're trying to be mindful about this, I think, but obviously this is a huge step that the administration has taken. They're not wasting any time and kind of trying to address these China issues.

Some of these products, some of these intermediate goods, they're making consideration for some of these things that perhaps could have a deep and immediate impact. They're trying to be mindful about this, I think, but obviously this is a huge step that the administration has taken. They're not wasting any time and kind of trying to address these China issues.

The income tax was implemented in 1913. That was really where you started to see some movement away from tariffs for a period. The income tax ramped up, obviously, during World War I, but then you saw the 1920s that They moved towards reducing the income tax, but then President Hoover in the 1930s really wrapped up the tariffs again. So they've come and go a little bit.

The income tax was implemented in 1913. That was really where you started to see some movement away from tariffs for a period. The income tax ramped up, obviously, during World War I, but then you saw the 1920s that They moved towards reducing the income tax, but then President Hoover in the 1930s really wrapped up the tariffs again. So they've come and go a little bit.

The income tax was implemented in 1913. That was really where you started to see some movement away from tariffs for a period. The income tax ramped up, obviously, during World War I, but then you saw the 1920s that They moved towards reducing the income tax, but then President Hoover in the 1930s really wrapped up the tariffs again. So they've come and go a little bit.

The big difference really between now and what we're talking about 100 to 150 years ago is that the US government just raises a lot more money than it used to. So you used to be able to fund the government off of 2% or 3% of GDP. And so that was where you could run the government off of tariffs and a few excise taxes. Nowadays, that probably would be feasible. I'd love it if it was.

The big difference really between now and what we're talking about 100 to 150 years ago is that the US government just raises a lot more money than it used to. So you used to be able to fund the government off of 2% or 3% of GDP. And so that was where you could run the government off of tariffs and a few excise taxes. Nowadays, that probably would be feasible. I'd love it if it was.

The big difference really between now and what we're talking about 100 to 150 years ago is that the US government just raises a lot more money than it used to. So you used to be able to fund the government off of 2% or 3% of GDP. And so that was where you could run the government off of tariffs and a few excise taxes. Nowadays, that probably would be feasible. I'd love it if it was.

I'd love to get to a government that was so small that that you could, but unfortunately, probably we're going to have to have, yeah, it's going to be a while before we can think about getting rid of the income tax and replacing it altogether with tariffs. So, I think those are a little bit overstated claims as to being able to replace it altogether.

I'd love to get to a government that was so small that that you could, but unfortunately, probably we're going to have to have, yeah, it's going to be a while before we can think about getting rid of the income tax and replacing it altogether with tariffs. So, I think those are a little bit overstated claims as to being able to replace it altogether.