President Trump's bold announcement signals a potential end to the federal income tax, presenting a radical shift in American fiscal policy. As the IRS struggles with declining resources and enforcement capabilities, Trump proposes a tariff-based revenue model that could eliminate the need for income tax altogether. This transformative approach aims to address the burgeoning national debt while reestablishing financial sovereignty for American citizens, harkening back to the country's early reliance on tariffs for revenue.
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Highlights:
- "Trump's proposal to eliminate federal income tax and replace it with tariffs."
- "IRS enforcement staffing has plummeted, resulting in historic low audit rates."
- "The U.S. government spends more on interest payments than on national defense and Medicare."
- "Transitioning to a tariff-based system aims to cap government spending and simplify the tax code."
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