US EditionTrump says he may cut income tax 'completely' because of tariff income
Trump proposes cutting or eliminating income taxes for Americans earning under $200,000 using tariff revenues, including a $2,000 tariff dividend, despite skepticism over legal and fiscal feasibility.
- Yesterday, President Donald Trump announced he may nearly eliminate the U.S. federal individual income tax using tariff revenue as the funding source.
- After announcing tariffs earlier this year that apply roughly 10% to 50% on most U.S. imports, Trump proposed a tariff dividend earlier this month to promote those tariffs.
- The proposal specifies a dividend of at least $2,000 per person, excluding high-income individuals and targeting people making less than $200,000 a year this year.
- Legal scrutiny intensified after justices expressed scepticism on November 5, raising legal uncertainty as Bloomberg reported tariffs could be overturned, potentially requiring refunds exceeding $100 billion.
- Framing the tariffs as pro-growth, Trump pledged tariff receipts would help pay down the nation's $37 Trillion debt and boost U.S. investment and factories, calling critics 'FOOLS' on Truth Social.
28 Articles
28 Articles
President Trump Says His Tariffs Could Help Him "Almost Completely" Eliminate The Income Tax - The American Tribune.com
In an awesome announcement made on Thursday, November 27, during a Thanksgiving event with American troops, President Donald Trump revealed that he is continuing to work on plans to mostly replace the federal income tax with revenue garnered from the tariffs he has instituted to protect American industry. As background, the tariffs were a major part of the president’s 2024 campaign platform, along with his campaign platform in 2016. He and many …
Donald Trump said he could cut or even eliminate federal income tax thanks to tariffs. The president made this comment last November 27, during a Thanksgiving call with the U.S. military, stating that the revenues generated as a result of his trade policies would be sufficient to compensate for the elimination of the said tax. Read more]] >
Trump Reveals Plan for ‘Almost Completely Cutting’ Income Tax
President Donald Trump has revealed that the United States may be on the verge of a historic tax overhaul, potentially eliminating the federal income tax altogether, as tariff revenues surge under his administration’s new trade policies. The post Trump Reveals Plan for ‘Almost Completely Cutting’ Income Tax appeared first on Slay News.
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