Income Tax - Trump

Have you ever tried to take a prized possession from a spoiled child?

quote:

---

Ignorant question… I remember Trump said a while back about the possibility of eliminating or significantly reducing income tax and replacing that budget with tariffs.
Is that a serious possibility? I can’t even fathom how life changing that would be.

---

Not really, not unless we cut our spending by 80% or more.

Our current import duties only raise 80 billion in revenue per year. We get 2.2 trillion from income taxes. We'd effectively have to raise tariffs by 28 times what it is now to keep the same revenue. And if we raise tariffs, other countries will raise their import tariffs on us by a similar amount, which make our products not sell overseas very well.

The math doesn't work.

(no message)