https://thenationalpulse.com/2024/06/13/trump-proposes-totally-scrapping-income-tax-heres-how-it-would-work/
Trump Proposes TOTALLY Scrapping Income Tax. Here’s How It Would Work…
Former President Donald J. Trump—the presumptive 2024 Republican presidential nominee—suggested during a private meeting with Republican lawmakers on Capitol Hill on Thursday that he’d consider replacing the federal income tax with an “all-tariff policy.” Trump first hinted at the policy idea during a campaign rally in Las Vegas on Sunday.
While specific details regarding the tariff plan were not immediately available, it appears the former President suggested tariffs could be used over time to phase out the income tax—and not immediately replace the federal government’s revenue base altogether. During Trump‘s first term in office, tariffs were used to impact both U.S. domestic and foreign policy—encouraging the reshoring of American jobs while punishing currency manipulators like China.
Trump also emphasized to his fellow Republicans at the Thursday meeting in Washington, D.C., that tariffs can and should be used to enhance U.S. negotiating power against foreign “bad actors.” These countries either purposefully devalue their currency or provide excessive state subsidies to domestic companies to tilt international trade in their favor.
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Brilliant. I love tariffs and the idea of income tax being phased out (very quickly please).