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Posted on 12/03/2025 2:32:15 AM PST by Libloather
President Donald Trump suggested Tuesday that Americans may "not even have income tax to pay" in the near future, saying tariff-driven revenue could allow for the historic elimination of the federal income tax under his tenure.
Trump told a press gaggle after his cabinet meeting that "at some point in the not too distant future you won’t even have income tax to pay," arguing that revenue the government is collecting under his administration is now "so great… so enormous."
"Whether you get rid of it or just keep it around for fun or have it really low, much lower than it is now, but you won't be paying income tax," Trump added.
If enacted, abolishing income tax would mark the most ambitious overhaul of the American tax system in more than a century. Trump’s repeated public support for replacing income tax with tariffs makes this the most explicit endorsement yet.
Earlier in his second administration, the president floated a tax plan eliminating income tax for individuals earning under $150,000, with tariffs proposed as a replacement.
"It's time for the United States to return to the system that made us richer and more powerful than ever before," the president said back in January. "Instead of taxing our citizens to enrich foreign nations, we should be tariffing and taxing foreign nations to enrich our citizens."
(Excerpt) Read more at foxbusiness.com ...
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it would be beneficial to have a bill in advance of the 2026 midterms
What is this means tested crap? The rules should be the same for everybody.
Eliminating the 1040 would require a massive re-write of the entire social welfare system in this country, along with the distribution of what are currently welfare payments who identify as non-refundable credits.
Why not pay off the national debt first?
Wait a minute there pal....Did he get permission from Judge Boasberg to do this?
Need to get rid of the 16th Amendment as part of the deal or the government parasites will later reinstate income tax and go on a spending spree.
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