#TrumpTaxCuts

"When tariffs cut in, many people’s income taxes will be substantially reduced, maybe even completely eliminated... It will be a bonanza for America!!! The External Revenue Service is happening!!!" –President Donald J. Trump 🇺🇸

The claim that tariffs can substantially reduce or eliminate income taxes is unreasonable. Income taxes generate $2.5 trillion per year, while a 50% tariff on all imports might only generate $780 billion, according to the Peterson Institute.

This gap can lead to higher prices, job losses, and inflation, making such policies impractical.

American consumers and businesses bear the burden of tariffs. Tariffs raise the costs of imported goods, which are often passed on as higher prices—such as more expensive clothing or electronics. Businesses face increased costs for imported materials, which can hurt profits or lead to higher prices, according to the Tax Foundation. While tariffs may protect some industries, they often harm others and risk provoking retaliatory tariffs.

Tariffs are a tax, just a hidden tax.

They do not punish foreign companies; however, they hit American consumers and businesses with higher prices.

There is no "bonanza" when families pay more for groceries, clothing, and cars.

Trump did not create a new revenue system — he merely shifted the burden to the people he claims he will protect.