🚨🚨 #Tariffs 🚨🚨
🇺🇸 LATEST: Trump Floats Major Tax Overhaul
Former President Donald Trump says federal income taxes could be substantially reduced — or even eliminated — if his new tariff regime kicks into full gear.
Trump claims the billions collected from tariffs would be enough to replace the revenue normally brought in by personal income taxes, especially for those making under $200,000 a year.
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📈 What’s Actually Happening:
New Tariffs Incoming: Starting this month, a 10% tariff is hitting all imports into the U.S., with even higher rates for countries running large trade deficits with America.
Big Promise, Big Risks: Experts warn that tariffs alone probably won’t cover the loss from wiping out income taxes. In fact, it could balloon the national debt if spending isn’t drastically cut.
Impact on You: Tariffs mean higher prices for everyday goods — from electronics to groceries — which could hit lower-income families the hardest.
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🏛️ Where Congress Stands:
House Republicans are rushing to finalize a broader tax package that includes making Trump’s 2017 tax cuts permanent.
But there’s a fight brewing even inside the GOP about how to pay for it without blowing up the budget deficit.
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💬 In Short:
Trump’s vision of “no income tax” sounds great on paper, but it’s a massive gamble.
Whether it becomes reality will depend on tariff revenues, consumer prices, Congressional support, and whether voters buy into it this election season.
