[USA-FRANCE]

Yes, higher tariffs alone won’t be enough to eliminate the income tax. But it could help lower it. Other incentives could also be applied to lower the income tax even further. Places with zero income taxes exists, however these places often have quite high taxes on imports. I think you mentioned that too.

The most unjust and and bolshevic-inspired tax in America which should be abolished no matter what... is the inheritance tax. Even Sweden had abolished it!

This is interesting as well:

https://ballastplan.com/wp-content/uploads/2017/10/6-13-2022-picture-2.png

https://ballastplan.com/a-history-of-the-individual-income-tax-in-america/#:~:text=Between%20the%20mid-1920s%20to%20early%201930s%2C%20the%20rates,was%2023%25%20and%20the%20top%20rate%20was%2094%25.

[BroJoeK]

USA-FRANCE: "Yes, higher tariffs alone won’t be enough to eliminate the income tax.
But it could help lower it."

Reily: "Please note social security about to enter another crisis.
The proposed band-aid is cut benefits.
The solution will eventually be never-ending cash infusions from the general revenue.
You can’t even get people on this site to properly understand how social security is funded and that you have no asset ownership in what you put in.
We can’t even solve that!
I have a hard time thinking that any tax proposal other than taking more and more is politically possible."

Donald Trump has promised not to reduce Social Security benefits, so it will be up to Republicans in Congress to figure out a viable solution.

Regarding Trump-tariffs, I don't know what you guys think of PolitiFact, but here is something they put out in October 2023, regarding 27 campaign promises claimed made by Pres. Trump -- all great stuff!

Item 26 is a 10% tariff on imports, though whether of all imports or just those considered to be "dumping" is a question.
Current US imports are around $4 trillion per year (circa $3 trillion in exports), so 10% would generate around $400 billion in tariff revenues, all else being equal.

The 2024 Federal budget is $6.6 trillion, with a deficit approaching $2 trillion, so even $400 billion in new tariff revenues would not fix this problem.

So far, I can't find a Trump campaign promise related to Federal budget deficits and the National Debt, however, I do see where, once Covid years are subtracted, Biden's budget deficits are running about 50% higher than Trumps:

1. Clinton/Gingrich (1993-2000) = 0.7% of GDP average deficits
2. GW Bush (2001-2008) = 1.9% of GDP average deficits
3. Obama (2009-2016) = 5.7% of GDP average deficits
4. Trump (2017-2019) = 3.9% of GDP average deficits (Covid subtracted)
5. Biden (2022-2024) = 5.7% of GDP average deficits (Covid subtracted)

Clinton's budget surpluses resulted from the "peace dividend" and Newt Gingrich's leadership in the House.

GW Bush's deficits resulted 2002 recession combined with War on Terror spending.

Obama's deficits resulted from increased social spending following the 2008 financial crisis.

Trump's deficits (before Covid) were 1/3 less than Obama's and Biden's, while inflation was about half of Biden's, and wages under Trump rose faster than either Democrat.

Biden's deficits (since Covid) are about 50% more than Trump's, while Biden inflation is double Trump's.