Corporations, not people, getting tariff paybacks

The Contrarian -  On “Liberation Day” in April 2025, Donald Trump imposed a massive set of tariffs on imported goods from around the world. The federal government then collected those funds — raking in ten upon tens of billions of dollars — for nearly a year, until the Supreme Court ruled that the president had unconstitutionally usurped Congress’s taxation powers.

As a result, the federal government has now begun the process of refunding about $166 billion in illegal tax revenue — payable to the corporations that originally handed over the money to the U.S. Treasury.

But did these corporations actually pay the tax? Or, after all, was it you and me?

In truth, the fat tax-rebate checks from the IRS will be going to corporations that already passed those costs on to shoppers in the form of tariff-bloated prices. American consumers paid the premium, but Treasury’s refunds will be going to huge companies. Ford announced it expects a $1.5 billion payback; General Motors anticipates a $500 million return. Both companies will reportedly be using the cash to boost their earnings.