You offer false choices. I choose, instead, to starve the beast by eliminating all tariffs, reducing the federal income tax to 15%, and cutting the corporate tax rate by half. The federal government will have more than enough income to meet their needs when we experience 4%+ annual GDP growth for decades to come.
Again, why would you tax imports at a lower rate (currently 1%, you suggest 0) than you would US wages (15% your suggestion) and US for taxes (17.5% fed your suggestion)? I’d much rather have 20% import tax, 10% us income tax and zero Corp tax rate. That would get gdp growth rate much higher than your scenario would.