Great news, my fellow Americans! Tariff revenue last month was way up. The government took in $17.4 billion from tariffs in April, nearly double the March haul of $9.6 billion. So far this year, the government has collected around $70 billion in tariff revenue. In 2024, with Sleepy Joe at the helm, it took in only about $77 billion for the whole year. Today, under the beautiful leadership of Pope Donald, we’re on pace for $210 billion in revenues. Maybe more!

Could Trump be right, then, that tariffs will pay for everything and one day replace the income tax?

No. Not even close. Not even kinda-sorta-maybe-in-dreamland close. This is a very under-discussed aspect of this whole tariff debate. Commentary typically focuses on whether the tariffs will really reduce the trade deficit and bring manufacturing back to the United States. Far too little attention is paid to one of Donald Trump’s chief claims, which he makes constantly: He fervently believes, or sure seems to, that the revenue from tariffs will be so great as to allow for the shutting down of the IRS and the end of income taxes.

Permit me to arm you with the answers to three fundamental questions. How much does the federal government spend every year? How much revenue does the federal government take in every year? And how much revenue might Trump’s tariffs generate once his plan is really up and running?

Answers to the first two questions: In 2024, the government spent about $6.75 trillion. In the same year, federal government revenues totaled

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