‘Real Chance’: President Trump claims that tariff can end revenue income tax requirement
US President Donald Trump said in a Fox News interview that the revenue from sweeping tariffs could be sufficient to change the federal income tax, calling it a “real chance” to overhala the tax system. He cited historical examples from the late 1800s, when tariffs were the primary source of income of the government.
“A chance that money is so great that it can change [income tax]”In the old days, from 1870 to 1913, Tariff was the only form of money,” Trump said. And then our nation was relatively richer. We were the richest. ,
Trump has pushed for the Congress to remove taxes on tips and social security, and that tariffs can help in funding such an initiative. He said, “We were earning two billion and three billion dollars a day. We never earned money in this way,” he claimed, taking into account the temporary decrease in rates to reduce economic infection.
He dismissed the argument that Tariff said the reason for the great depression, “They put the tariff before the Great Depression arrives.”
In the same interview, Trump praised Al Salvador’s anti-crime crack under President Naib Bucle and expressed openness to send violent American criminals for equal facilities. Trump said, “They have made it a very safe place,” suggesting that America “should get rid of our criminals … should be allowed by Biden to come.”
These comments come because the administration stagnates a 90-day stay on the new mutual tariffs, while Chinese enhances duties on goods, which is up to 245 percent. Tariff tricks have shook the financial markets and have stopped the possibility of recession, even officials are engaged in business talks to reduce US trade deficit,
