In the Spotlight: Can Tariffs Replace Individual Income Taxes?
Can we really fund our government without income taxes? We did before Congress passed the 16th Amendment in 1913. Some think a coordinated set of policies on tariffs, energy, regulation, and federal spending could get us there. But the arithmetic is a challenge. This short article breaks down why eliminating income taxes for all households is too big a hill to climb, and explores what is required to eliminate income taxes for those making less than $200,000 a year. Can Tariffs Replace Individual Income Taxes? You’ll walk away with a clearer picture of the trade-offs—and a few surprising numbers.
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