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<blockquote data-quote="Doublestandards" data-source="post: 6097674" data-attributes="member: 110123"><p><h2>CAN TARIFFS REPLACE THE INCOME TAX?</h2><p>Simply put, no. Tariffs are levied on imported goods, which totaled $3.1 trillion in 2023. The income tax is levied on incomes, which <a href="https://home.treasury.gov/system/files/131/Distribution-of-Tax-Burden-Current-Law-2024.pdf" target="_blank">exceed $20 trillion</a>; the US government raises <a href="https://fiscaldata.treasury.gov/americas-finance-guide/government-revenue/#federal-revenue-overview" target="_blank">about $2 trillion in individual and corporate income taxes</a> at present. It is literally impossible for tariffs to fully replace income taxes. Tariff rates would have to be implausibly high on such a small base of imports to replace the income tax, and as tax rates rose, the base itself would shrink as imports fall, making Trump’s $2 trillion goal unattainable</p><p></p><p>This data says that tariffs can not replace income tax, do you have numbers that show otherwise?</p></blockquote><p></p>

[QUOTE="Doublestandards, post: 6097674, member: 110123"] [HEADING=1]CAN TARIFFS REPLACE THE INCOME TAX?[/HEADING] [B] [/B]Simply put, no. Tariffs are levied on imported goods, which totaled $3.1 trillion in 2023. The income tax is levied on incomes, which [URL='https://home.treasury.gov/system/files/131/Distribution-of-Tax-Burden-Current-Law-2024.pdf']exceed $20 trillion[/URL]; the US government raises [URL='https://fiscaldata.treasury.gov/americas-finance-guide/government-revenue/#federal-revenue-overview']about $2 trillion in individual and corporate income taxes[/URL] at present. It is literally impossible for tariffs to fully replace income taxes. Tariff rates would have to be implausibly high on such a small base of imports to replace the income tax, and as tax rates rose, the base itself would shrink as imports fall, making Trump’s $2 trillion goal unattainable This data says that tariffs can not replace income tax, do you have numbers that show otherwise? [/QUOTE]

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