Tony, Pretty MuchConsumption taxes, which is what tariffs are a form of, are hyper-regressive, taxing lower incomes at a much higher percentage of total income than high incomes.
Trump wants to continue to pay no taxes, and wants the vast majority of Americans - those earning under 400k a year, to pay higher taxes - period. From a fairness, economic, and fiscal responsibility perspective, it is insanity. But consider the source.
Trump’s 2025 Tariff Threats - Intereconomics:
https://www.intereconomics.eu/contents/year/2024/number/4/article/trump-s-2025-tariff-threats.html
Trump’s 2025 Tariff Threats
Former US President Donald Trump’s public statements on tariffs have ranged from merely alarming to evidently impossible, but one thing is clear: these tariff threats should be taken seriously. Both the candidate and his advisers have been relentlessly consistent in their repeated emphasis on raising tariffs and cutting income taxes. Trump’s specific proposals include both a 10% across-the-board tariff on all trading partners as well as 60% or higher tariffs on goods from China. These tariff proposals occur alongside calls for tax cuts that would cost as much $5 trillion over ten years. Trump has even floated the idea of completely replacing income taxes with tariffs.
RJ
Kevin Leecaster
Hash