đš BREAKING NEWS! đš
President Trump is shaking things up with a bold new idea: removing income tax and relying on tariffs to fund the country! đ„ This game-changing plan could have huge implications for the U.S. economy and is sparking intense debate. đž
According to reports, Trump's administration is exploring this plan, with customs duties already generating significant revenue - around $31-$34 billion in October alone. However, experts warn that tariffs alone might not be enough to replace income tax, which brings in around $2 trillion annually.
The potential impact is massive:
- *Economic Uncertainty*: Tariffs could reduce long-run GDP by 0.8% and eliminate 740,000 full-time equivalent jobs.
- *Trade Wars*: Retaliatory tariffs from other countries could further harm the U.S. economy.
- *Inflation*: Higher tariffs could lead to increased consumer prices.
Would you like to know more about the potential effects of this plan or Trump's tariff policies?
