Trump says he may cut income tax ‘completely’ because of tariff income. This statement, frankly, is a head-scratcher, and not in a good way. It’s the kind of pronouncement that makes you wonder if we’re living in a parallel universe where the rules of economics have been rewritten. The core idea, as far as I can gather, is that increased revenue from tariffs – essentially taxes on imported goods – could somehow offset the need for income taxes. This is where things start to fall apart.
First off, let’s talk numbers. The US is currently swimming in a massive deficit, with trillions of dollars in debt.… Continue reading
Poland’s president recently enacted a law eliminating personal income tax (PIT) for parents with at least two children, a measure designed to bolster family finances and stimulate the economy. This reform, available to families earning up to 140,000 zloty annually, is expected to provide an average of 1,000 zloty monthly relief per family. However, tax experts caution that the financial benefits will primarily favor higher-income families. While public consultations showed significant support for the initiative, the actual impact and efficacy of the “tax armour” reform, which also includes other tax adjustments, will be visible in the 2026 tax returns.
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The IRS recently released updated federal income tax brackets and standard deductions for 2026, applicable for returns filed in 2027. The agency increased income thresholds for each bracket, along with adjustments to long-term capital gains brackets, estate and gift tax exemptions, and earned income tax credit eligibility. For the 2026 tax year, the top tax rate of 37% will apply to individuals with taxable income exceeding $640,600 and married couples filing jointly with income above $768,700.
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During a Nevada rally, President Trump endorsed a proposal to eliminate all federal income taxes. This suggestion followed a crowd member’s request to suspend all federal taxes, prompting Trump to propose funding the government solely through tariffs on imported goods. He cited a historical period without income tax, suggesting tariffs could generate sufficient revenue. Trump argued this system, while not without drawbacks, led to a period of great American prosperity.
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Matt Underwood 
John Q. Hosedrinker