Trump’s Trillion-Dollar Tariff Failure: Revenue Far Below Expectations
President Trump’s proposed “External Revenue Service” would replace income taxes with tariffs, theoretically funding the government through levies on imported goods. This plan aims to eliminate income taxes for those earning under $200,000 annually. The idea draws historical parallels to the pre-income-tax era when tariffs were a primary government revenue source. Trump projects this shift as a significant financial boon for American citizens.
John Q. Hosedrinker