1. Trump’s Proposal
Donald Trump says Americans may not have to pay income tax in the “not too distant future.”
His idea is to replace federal income taxes with money collected from tariffs on imported goods — a major promise of his 2024 campaign.
2. Revenue Gap
The numbers show a major problem. Income taxes make up over half of federal revenue,
while tariffs bring in less than 4%. Experts argue the plan is “mathematically and economically infeasible.”
3. Economic Risks
Analysts warn that very high tariffs could spark retaliation from other countries and act as a regressive tax,
hitting lower-income households the hardest.
There are also ongoing legal challenges over presidential tariff powers.
4. Doubt and Persistence
Despite skepticism, Trump continues promoting the idea, claiming tariff revenue is becoming so “enormous” it could replace income taxes.
For now, the proposal faces serious practical and economic barriers.
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