Trump just Trumping.

Will this really happen? Let's see. I'd rather he throw any excess revenue towards the debt.

If this actually happens, I am curious to hear the reactions from the tariff haters. Happy? Still unhappy?

Trump tariffs live updates: US may cut income tax due to tariff revenue
https://finance.yahoo.com/news/live/trump-tariffs-live-updates-us-may-cut-income-tax-due-to-tariff-revenue-trump-says-xi-agreed-to-expand-farm-buys-231853739.html

Quote:

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President Trump said on Thursday his administration may cut income tax completely over the next two years because of the government revenue generated from tariffs.

"Over the next couple of years, I think we'll substantially be cutting and maybe cutting out completely, but we'll be cutting income tax. Could be almost completely cutting it because the money we're taking in is going to be so large," Trump told US military service members on a video call.

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He's adding pressure, so the decision goes his way.

Sorry if I missed it but, is he advocating the elimination of or the reduction of income taxes?

If so, what income brackets?

Or is he attempting to justify tariffs?

I would look at putting it all into the Social Security trust. Try and take that problem off the table.

Sounds great, but firmly in the category of "I'll believe it when I see it."

One can only hope.

It never ceases to amaze me how many people are opposed to lowering the income tax. I suspect 50% of them not paying a dime has something to do with it.

I'm not opposed to this. I just think it's absurdly and laughably unrealistic. His people need to educate him on the actual math with this.

In no world is he going to replace $2.5T in tax receipts with tariff revenue on an ongoing basis. He has about $2.35T to go just to do this once.

Are not tariffs just a hidden tax on the buying public?

He's just joking lighten up guys

I don't think many people understand the debt/ deficit situation. Here's what it would look like if it was a person making $100k a year, adding income from tariffs…but still having massive debt:

Annual income:
$100,000 normal revenue
+$3,600 tariff revenue
= $103,600 total income
Annual overspending:
Person spends $120,000
New deficit: $16,400 (instead of $20,000)

Total existing debt:
$760,000

ETA: I don't think tariffs are a bad thing, but we have a long way to go to make them have a real impact.

Article I, Section 8 of the Constitution disagrees, only Congress has the power to levy taxes "pay the Debts and provide for the common Defense and general Welfare of the United States".

Since I'm not a liberal, and thusly dislike more taxes like tariffs, "LOL!!!".

YouBet said:

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LOL. Dumbest damn thing he's ever said.

We've only brought in around $150B from tariffs to date and they may not even survive SC review anyway.

What is he smoking? Focus on the immigration issue and not on fantasy b.s.

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Trying to save face over a failing policy.

TexasAggie73 said:

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Are not tariffs just a hidden tax on the buying public?

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They're essentially a sales tax. With that being said, we probably couldn't count on both hands the number of posters that clamor to get rid of income tax and get everyone to have skin in the game through a flat or consumption tax... then Trump suggests the possibility and the same posters will flip out because the one who suggests it.

YouBet said:

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LOL. Dumbest damn thing he's ever said.

We've only brought in around $150B from tariffs to date and they may not even survive SC review anyway.

What is he smoking? Focus on the immigration issue and not on fantasy b.s.

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Dumbest thing? Doubtful.

Geminiv said:

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YouBet said:

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LOL. Dumbest damn thing he's ever said.

We've only brought in around $150B from tariffs to date and they may not even survive SC review anyway.

What is he smoking? Focus on the immigration issue and not on fantasy b.s.

---

Dumbest thing? Doubtful.

---

Yeah, he once said Hillary was a good SecState. That's MUCH dumber.

Lol

Short term I'd like to see it reduce taxes as tariffs will be painful until was can onshore and that takes some time.

So his administration doesn't have to follow the constitution? They can just decide to change tax law without legislation? Congress sucks at actually doing their jobs, so I'm sure he can convince some Rs to vote for this and all the spending he has been promising, so maybe that's his point?

Quote:

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Are not tariffs just a hidden tax on the buying public?

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Like corporate taxes.

And heavily obscured payroll taxes

Quote:

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Are not tariffs just a hidden tax on the buying public?

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And the biggest hidden tax - inflation from printing money

Ferg said:

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I would look at putting it all into the Social Security trust. Try and take that problem off the table.

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That problem could be easily fixed with a few sentences containing less than 100 words, but they don't have the guts to do it.

Use this to give money back to taxpayers, but only those who pay taxes. Cut spending everywhere.

Rapier108 said:

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Trump just spews bull**** most of the time, which is his biggest weakness.

If he could control his damn mouth, he would be far more effective rather than detrimental to his agenda and to the GOP.

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It's part of his negotiation tactics. Say you want the sun, moon, and stars then just be happy you got the moon.
I wish he wasn't as clunky with his speech as he is but it's a valid technique that works many times for him.

infinity ag said:

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Trump just Trumping.

Will this really happen? Let's see. I'd rather he throw any excess revenue towards the debt.

If this actually happens, I am curious to hear the reactions from the tariff haters. Happy? Still unhappy?

Trump tariffs live updates: US may cut income tax due to tariff revenue
https://finance.yahoo.com/news/live/trump-tariffs-live-updates-us-may-cut-income-tax-due-to-tariff-revenue-trump-says-xi-agreed-to-expand-farm-buys-231853739.html

Quote:

---

President Trump said on Thursday his administration may cut income tax completely over the next two years because of the government revenue generated from tariffs.

"Over the next couple of years, I think we'll substantially be cutting and maybe cutting out completely, but we'll be cutting income tax. Could be almost completely cutting it because the money we're taking in is going to be so large," Trump told US military service members on a video call.

---

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Will this be on top of the $2k he said he wants to send out to most Americans next year?

Because if so, the very, VERY good Trump.

Pay.

Off.

The Debt.

The POTUS stating this and that with Tariffs cash tells me he feels that SCOTUS is about to drop the hammer on Tariffs.

Burpelson said:

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The POTUS stating this and that with Tariffs cash tells me he feels that SCOTUS is about to drop the hammer on Tariffs.

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Illogical. If SC rules against tariffs, he has no way to cut or abolish income taxes because his tariff revenue stream disappears.

And his tariff money is currently about 1/10 of what he needs to replace all of annual income tax receipts.

This plan is not based in reality as cool as that would be.

Tariffs is a governance thing. I don't know how SCOTUS can decide that it is "illegal". In that case why even have a President, just let the SCOTUS rule the country.