politics @lemmy.worldEnglish · 14 hours ago

US may owe $1 trillion in refunds if SCOTUS cancels Trump tariffs

arstechnica.com

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US may owe $1 trillion in refunds if SCOTUS cancels Trump tariffs

arstechnica.com

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politics @lemmy.worldEnglish · 14 hours ago

cross-posted to:
[email protected]

Tech industry primed for big refunds if SCOTUS rules against Trump tariffs.

If Donald Trump loses his Supreme Court fight over tariffs, the US may be forced to return “tens of billions of dollars to companies that have paid import fees this year, plus interest,” The Atlantic reported. And the longer the verdict is delayed, the higher the refunds could go, possibly even hitting $1 trillion.

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9 hours ago
The total collected so far is under two hundred billion. We would have gotten more in taxes if we had just taxed the rich and they would have barely noticed it.

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