Trump Suggests Tariff Revenue Could Replace Income Tax

U.S. President Donald Trump has proposed that revenue from tariffs could potentially replace the income tax. Bloomberg posted on X, highlighting Trump's assertion that tariff money could serve as an alternative to income tax revenue. This suggestion comes amid ongoing discussions about the economic impact of tariffs and their role in the U.S. financial system. Trump's comments have sparked debate among economists and policymakers regarding the feasibility and implications of such a shift in tax policy.