#TrumpTaxCuts

TRUMP says that he will eliminate income taxes with the tariffs.As he thinks tariff will be enough to cut all the taxes.He will replace taxes with tariff as a source of government revenue.

So friends I think this plan of Trump is impossible.If it happens then consequences will be very severe in all aspects.It will effect government spending, consumer demand,global trade and many others.It will be a total reshape to an economy.

Think of it, according to reports,fed raises 3 trillion a year from income taxes. And usa import also 3 trillion annually.So that means tariff has to be atleast 100%.

You know now the tariff rate is 22.8%, according to Fitch ratings , which is already at the highest level of any develop country.

It means what comes to America has to be double it's price.

Demand will be less , consumer spending will fall.So in other words it will only be a dream.Though it's sounds gud to cut or eradicate taxes completely taxes with tariff as who wants to pay tax .And let the later pay of the taxes but it is impossible.

Please leave your comment below what is your thought about tax cut😁.