Donald Trump has once again pushed his wildest tax reform plan—the elimination of federal income taxes. The former president flirted with the idea for the majority of his campaign, asserting that the lost revenue from taxes could be regained through tariffs. Despite experts calling it an unrealistic idea, the GOP presidential nominee is certain that “there is a way.”
Trump wants to eliminate income taxes - How?
During his recent appearance at a barbershop in the Bronx, Trump argued that it is possible to remove federal income taxes for every American citizen by establishing an all-tariff plan. Upon being asked his views on how it could be achieved, the ex-prez suggested bringing back the policies from the 1800s.
“You know, in the old days, when we were smart, when we were a smart country, in the 1890s… this [United States] is one of the countries that was relatively the richest it ever was,” Trump said. “It had all tariffs; it didn't have an income tax,” he continued before adding that in the present-day situation, Americans are finding it difficult to pay their taxes.
Trump went on to say now that we have income taxes, “we have people that are dying.” “They are paying tax, and they don't have the money to pay the tax. No, in the old days, 1890, 1880, we had so much money, they had to set up committees. Blue Ribbon committee - ‘How to spend our wealth?’” he added.
{{/usCountry}}Trump went on to say now that we have income taxes, “we have people that are dying.” “They are paying tax, and they don't have the money to pay the tax. No, in the old days, 1890, 1880, we had so much money, they had to set up committees. Blue Ribbon committee - ‘How to spend our wealth?’” he added.
{{/usCountry}}The former president claimed that back then, “we had no idea how to spend it with so much money.” “Then we went to the income tax system, and the rest is sort of history. But no, there is a way. I mean, if what I am planning comes out,” Trump said before saying that it was a “great question” during the Fox News broadcast.