ilmscore | Tariffs vs. Taxes: What’s the Difference and Who Pays?

Tariffs vs. Taxes: What’s the Difference and Who Pays?

Published: 2025-07-04
Status: Available | Analyzed

Predictions from this Video

Total: 4
Correct: 0
Incorrect: 0
Pending: 4
Unrated: 0
Prediction
Topic
Status
Tariffs are predicted to make a resurgence in 2025.
"And now they're making a resurgence in 2025."
Tariffs
Pending
Tariff revenue in 2025 is projected to be between $300 billion and $600 billion, according to Treasury Secretary Scott Bassent.
"In 2025, according to Treasury Secretary Scott Bassent, we are expected to generate somewhere between 300 to 600 billion in tariff revenue."
Tariff Revenue
Pending
In 2025, the US government is expected to spend $7.1 trillion while generating $5.22 trillion in taxes, resulting in a deficit of $1.9 trillion.
"In 2025, the United States government is expected to generate around $5.2 2 trillion in taxes from all the taxes that we just talked about, including tariffs. While at the same time, the United States government is expected to be spending around $7.1 trillion in 2025, which means we will be spending around $1.9 trillion that we do not have."
Government Spending
Pending
The current economic trend is predicted to hurt the average person and enrich the financially educated.
"This trend hurts the average person while making some people, the financially educated, wealthier."
Inflation
Pending