US President Trump today (Beijing Time August 4) made an astonishing statement, claiming that tariff revenue may completely replace income tax. He revealed that he is planning to use tariff revenue as a basis to abolish income tax for individuals with annual incomes below $200,000, in order to "reduce the burden" on the public.
[Witty] Comment: Some Trump supporters regard Trump's words as gospel. However, data is merciless and objective. In 2024, the US government's individual income tax revenue reached $2.4 trillion, while the total import volume during the same period was $4.1 trillion. It is almost impossible for tariffs to replace individual income tax, as the difference in magnitude is evident. Such statements are nothing more than unrealistic fantasies. However, Trump's remarks can still deceive many MAGA supporters.
Original: https://www.toutiao.com/article/1839485225734216/
Statement: This article represents the views of the author himself.