Ryan Petersen

The income tax wasn't introduced until Abraham Lincoln and the Civil War.

And it has a percent of the value of the goods that are imported that you have to pay to the U.S.

Treasury.

Primary reason for it, I guess there's a few, revenue is real.

In fact, Trump's chief economic advisor right now, the chairman of the Council of – I don't know if he's the chief advisor, but the chairman of the Council of Economic Advisors is a guy named Stephen Moran.

And he, in his current administration, he said –

That in the Trump won first term that the tariffs on China paid for one third of the tax cuts that Trump did.

It's pretty meaningful.

I mean, it's an it's an interesting alternative way to fund the government via tariffs instead of income tax.

Like, I'm not sure.

I hate that idea.

I don't know what would happen.

Yeah.

So it's sorts of revenues, very, very important and valuable to the government.

It's a way to control protectionism for companies.

That's been a major reason to use tariffs over the years is to protect U.S.

businesses from competition.

In part, just for employment reasons, in part for national security reasons, like you want to have certain industries be successful.

Steel has always been one of these and...

Autos, most major countries like believe their auto industry is like important, not just for jobs, but for armaments.