Featured Image Credit: Win McNamee/Getty Images
Topics: Money, Donald Trump, Politics, US News
Jen Thomas
Topics: Money, Donald Trump, Politics, US News
President Donald Trump has floated the idea of giving American citizens each a $2,000 check in rebates.
Trump said on Thursday that it would come from the revenues his new tariffs have raised, and mentioned the possibility of sharing some of the hundreds of billions of dollars from these tariffs, all thanks to the levies on other countries.
The Supreme Court will next month hear evidence to decide whether these levies and tariffs were within Trump's remit to inflict, after the US Court Of Appeals ruled in August that Trump's tariffs were not covered by an emergency powers law.
Two lower courts also found that most of the levies were illegal.
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Trump told One America News Network of the tariffs: "They’re just starting to kick in but ultimately, your tariffs are going to be over a trillion dollars a year.”
When asked what he plans to do with the money, he said: “Number one, we’re paying down debt because people have allowed the debt to go crazy," talking about the $37 trillion national debt.
“With that being said, we’ll pay back debt, but we also might make a distribution to the people,” Trump continued, with 'a dividend to the people of America'.
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He was asked how much such a dividend might be, realistically: “We’re thinking maybe $1,000 to $2,000 – it would be great."
However, news of a potential $2,000 check hasn't been greeted with excitement by many, with people pointing out the ongoing cost of living crisis.
One critic wrote: "Thinking free spending money? Forget it! We're going to need that money to pay for our health insurance premiums which are going to double."
"How about paying back the Medicare fund all of the money 'borrowed' from it over the decades?" asked another.
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"I appreciate the gesture but could we please use it to pay down our massive debt instead," asked one commenter, although Trump has said that at least some of the tariff money is being used for just that.
"Since the tariffs are costing everyday people an extra $4500 per year on inflationary prices, his checks will be $2500-3500 short," someone else penned.
"So I get a check for 2,000.00, yet I pay thousands and thousands of dollars because of the tariffs, I guess if I was MAGA it would make sense but not to the rest of the country" slammed one commenter.
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"Just ignore it's basically a 'tax refund' considering American consumers, importers, and businesses are paying directly or indirectly for the Tariffs. It's not really a dividend, when you are just getting money you already spent back," added one.
"This is a gimmick and I think it means he is freaking out about his polling numbers. His base is disapproving more and more. Trump’s policies are massively failing at home and abroad," insisted this critic, while another added: "That won't even cover my groceries for the month now."
This year alone, the government has brought in approximately $214.9 billion from the tariffs, according to Fox Business.
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Treasury Secretary Scott Bessent claims the tariffs will bring in $300 billion of extra revenue by the end of 2025.
If the Supreme Court finds the tariffs are, in fact, illegal, Bessent warned that the government could be made to refund $750 billion to $1 trillion to countries that paid.