If I asked you in August 2024 to pick the candidate for president more likely to raise taxes by over $3 trillion, it’s safe to say you probably would not have chosen Donald Trump.

But that’s what Trump may do, even as tariff revenues are going way up, without a single vote in Congress and with hardly a peep from Republicans who normally oppose anything that looks like a tax.

This week, the feds reported collecting $27.7 billion in import duties in July.

How much is that? Think about it this way: Until 2011, the U.S. never collected $27 billion in tariffs in an entire year. This was just one month.

Current estimates put the revenue impact of the Trump tariffs between $300 billion to $400 billion for one year.

Unfortunately, that extra tariff revenue can’t erase the current budget defic

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