In a major win for Americans, President Donald Trump has hinted that his administration will eliminate the federal income tax because of the revenue generated from tariffs on other countries.
On Thanksgiving Day, while addressing troops, Trump touted his administration’s economic agenda and said that income taxes could soon be scrapped.
“In the next couple of years, I think we’ll substantially be cutting, or maybe cutting out completely, but we’ll be cutting income tax,” Trump said. “Could be almost completely cutting it because the money we’re taking in is going to be so large.”
Such a development comes after Trump revealed that Americans could receive a $2,000 check in the mail as part of a “dividend” resulting from tariffs.
In a statement on Truth Social, the president rebuked individuals who oppose tariffs and noted that because of such measures, the U.S. is the “richest” nation in the world.
“People that are against Tariffs are FOOLS!” Trump said. “We are now the Richest, Most Respected Country In the World, With Almost No Inflation, and a Record Stock Market Price. 401k’s are Highest EVER. We are taking in Trillions of Dollars and will soon begin paying down our ENORMOUS DEBT, $37 Trillion.”
“Record Investment in the USA, plants and factories going up all over the place. A dividend of at least $2000 a person (not including high income people!) will be paid to everyone,” he added.
Early in his tenure, Trump faced significant backlash over his tariffs, with many accusing the president of driving down the economy.
However, it appears that such a tariff policy has skyrocketed the American economy, paving the way for the federal income tax to cease.
Commerce Secretary Howard Lutnick said Trump’s tariff dividend check for Americans is the president demonstrating the benefit of tariffs, as Breitbart News reported.
“Well, look, the President wants to make sure the American people understand that the tariffs are there for their benefit, right? That it’s — yes, it’s going to drive down our deficit. Yes, it’s going to make the country stronger,” Lutnick said.
“But he wants the people of America, the American people to appreciate these tariffs, and he knows if he puts money into their pocket and says, ‘Look, this was paid for by the tariffs,’ they’ll better understand how important this is for America. And so, that’s why he’s talking about it,” the commerce secretary added.
Trump’s announcement of a potential income tax removal comes as states in the U.S. adopt similar approaches because of surpluses.
Florida, as an example, has introduced legislation in the state House to eliminate property taxes in the Sunshine State as a result of a surplus.
According to Eric Trump, Florida Gov. Ron DeSantis (R) can take such an approach because of the massive wave of New Yorkers fleeing to the Sunshine State. Following socialist Zohran Mamdani’s victory in the New York City mayoral election, residents of the Empire State are expected to move down south to avoid rising costs and taxes.
“Ron DeSantis is literally going out right now saying, I’m going to eliminate all property taxes in the state of Florida. You know why he’s able to do that? Because all the wealth of New York has come to Florida,” Eric Trump said in an interview with the NELK boys.
