President Trump thinks tariff revenue could replace individual income taxes. Experts weigh in.
Business
President Trump is floating an idea that could appeal to millions of budget-strained households: using tariff revenue to reduce, or even eliminate, the federal individual income tax. But tax experts are skeptical that import taxes could completely replace income tax, and they say a reduction in income taxes would largely benefit the nation's top earners. "I believe that at some point in the not-too-distant future, you won't even have income tax to pay because the money we're taking in is so
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