From Mises Institute <[email protected]>
Subject No, Tariffs Did Not Cause September’s Budget Surplus
Date October 27, 2025 7:00 PM
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Mises Institute
Monday, October 27, 2025


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No, Tariffs Did Not Cause September’s Budget Surplus
Ryan McMaken
September’s fiscal surplus was not thanks to tariff revenue. In truth, it was thanks to Americans paying more in income tax. Tariffs were only 5.7 percent of revenue.

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A Brief History of the Enduring American Embargo against Cuba
Birsen Filip
For more than 60 years, the US government has enforced a trade embargo against Cuba, ostensibly to force the communist government into collapse, but it failed.

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Reading Markets the Austrian Way

Mark Thornton reviews David Howden’s commodity playbook for long-term investors.

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Freedom in Money: Hayek’s Competing Currencies, the Fed, Gold, and Crypto

Dr. Alex Pollock at the recent Mises Institute Supporters Summit.

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Tariffs Did Not Make America Great and Won’t Make America Great Again

Tariffs deserve no credit for economic growth.

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My Cuban Vacation
Mark Thornton explores the continuing negative impacts of the ongoing US embargo against Cuba.

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How to Recognize Critical Race Theory
Reports that critical race theory is over have been greatly exaggerated.

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The Danger of Deflation (Phobia)

Don’t fear natural deflation: fear policies that target permanent inflation.

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Hayek for the 21st Century—Our New 100,000 Book Giveaway

Hayek for the 21st Century is a primer for the layperson, introducing a new generation of readers to Hayek’s writings and hopefully avoiding the 20th century’s mistakes in the 21st century.

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