At $29.6B running rate (call it $30B per month), that would reach $360B for the year. That is more collected than ever, but it is not the $700B that Commerce Sec. Lutnick touted on Sunday news shows back at the end of July.
Pinochio?
64% is being paid by US companies22% by US consumers14% by others(? - maybe by foreign company lowering their prices)
Can that mix continue keeping inflation lower?
BTW... Wanted something for lunch with my wife on Saturday so I suggested McDonalds as time was limited (we do not go there often). For a two cheeseburger meal (which we split) it came to $12.30. Wow.
Anyway, getting to $700B might be difficult. We will see. .
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