We imported about $467 billion worth of stuff from China last year.
Personal income last year was $14.7 trillion.
Your thinking is, simply, incomplete.
We sold only about $124 billion worth of stuff to China last year.
That is the rest of the picture.
That is a one-year trade deficit of $343 billion dollars. Just in one year. A new all-time record, in a series of new all-time record trade deficits.
And it’s still increasing, this year.