PolitiFact: Tariffs Couldn't Generate Enough Revenue to Eliminate Income Tax

PolitiFact: Tariffs couldn't generate enough revenue to eliminate income tax

WMUR's partners at PolitiFact are examining President Donald Trump's claim that his tariffs could generate enough revenue to eliminate federal income taxes.

President Trump thinks tariff revenue could replace individual income taxes. Experts weigh in.

President Trump suggested Americans won't have to pay personal income taxes "in the not-too-distant future" because of rising U.S. tariffs.

The Associated Press: FACT FOCUS: Trump Says Tariffs Can Eventually Replace Federal Income Taxes. Experts Disagree

Tariff revenue doesn’t even come close to where it would need to be if federal income taxes were eliminated, and experts say such a plan isn’t at all feasible.

Axes, Taxes, & the Trap — Trump in the Age of Usury

President Trump told the country this week that tariffs might soon generate enough revenue to abolish federal income taxes altogether. No more April 15th? No more IRS? Just tariffs–chop chop chopping like a pair of scissors–to slice away the debt and refund the very people being robbed in the first place. Trump told reporters in […] The post Axes, Taxes, & the Trap — Trump in the Age of Usury appeared first on The Hayride.

‘The numbers don’t add up’: MAGA host sees through new Trump plan to end income taxes

Pro-MAGA host Gina Loudon said she didn’t buy President Donald Trump’s claim that he could use tariff revenues to abolish income taxes. “I believe that at some point in the not too distant future, you won’t even have income tax,” Trump said earlier this week. “Because the money we’re taking in, it’s so great, it’s so enormous that you’re not going to have income tax to pay.” During a Thursday discussion on Real America’s Voice, Loudon doubted Tr…

'The numbers don't add up': MAGA host sees through new Trump plan to end income taxes

Pro-MAGA host Gina Loudon said she didn't buy President Donald Trump's claim that he could use tariff revenues to abolish income taxes. "I believe that at some point in the not too distant future, you won't even have income tax," Trump said earlier this week. "Because the money we're taking in, it's so great, it's so enormous that you're not going to have income tax to pay."During a Thursday discussion on Real America's Voice, Loudon doubted Tru…