#TrumpTaxCuts

This means that American President Trump wishes to reduce or eliminate the federal tax as soon as the new tariffs take effect, in order to use the projected revenues from these new tariffs to fund significant tariff reductions, particularly for low-income individuals, meaning those with an income below $200,000, with the possibility of eliminating them for this category.

These tariff increases will offset the losses resulting from this tax reduction, allowing for a move away, even slightly, from dependence on traditionally applied taxes.

1_ This tax model aims to increase spending and support the middle class.

2_ Strengthen American industry and bring American companies located abroad back to domestic production through protection and tax incentives.

3_ Reduce the trade deficit through tariffs on imports and achieve the principle of reciprocal treatment with other countries.

That said, this new tax policy could have catastrophic results, including:

1_ Insufficient tariff revenues to cover the proposed tax cuts.

2_ An increase in inflation and prices.

3_ An increase in public debt due to the gap between revenues and expenditures.