No, Tariffs Did Not Cause September's Budget Surplus
Oct 28, 2025
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Episode description
September’s fiscal surplus was not thanks to tariff revenue. In truth, it was thanks to Americans paying more in income tax. Tariffs were only 5.7 percent of revenue.
Original article: https://mises.org/mises-wire/no-tariffs-did-not-cause-septembers-budget-surplus
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