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Published 1 month ago

Trump floats eliminating U.S. income tax and replacing it with tariffs on imports

  • Donald Trump proposed replacing the federal income tax with tariffs on imports, as mentioned by Representatives Thomas Massie and Marjorie Taylor Greene.
  • Trump discussed implementing tariff hikes, extending 2017 tax cuts, and creating a tax exemption for tipped wages during a meeting with House Republicans in Washington.
  • Implementing tariff increases to offset income taxes may be challenging since the US collects more revenue from individual levies than from imported goods.
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