That’s only corporate taxes and corporate taxes are <10% of total tax revenue collected. That’s more than offset by more people working and paying payroll and income taxes.
In real terms or paper? Hope he is not buying the hardware from US companies…
What if the bitcoin goes to $1000… who loses more… Asians or Americans…where are the farms…
Ok I was just kidding…back to trade wars!
But its naive to think that US will give up the only competitive advantage it has in the world. The Dollar. The global currency of trade. Helps us borrow indefinitely. Export our inflation. The nectar of good life. Helps us buy bigger houses and cars and drink $1000 wine bottles.
Trade deficit helps maintain USD’s global reserve status. You need a large amount of USD out there for people to trade with and keep in the safe. Be definition that means US needs to hold a current account deficit.