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No, Tariffs Did Not Cause September's Budget Surplus
mises.org/podcasts/audio-mises-wire/no-tariffs-did-not-cause-septembers-budget-surplusSeptember’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.
This story appeared on mises.org, 2025-10-28 13:47:56.