Summary
President Donald Trump suggested that the money from tariffs could be enough to stop Americans from paying income taxes. Experts argue that this seems unrealistic because the numbers do not add up.
Key Facts
- President Trump said tariffs might bring in enough money to let Americans stop paying federal income taxes.
- He made this statement in a Thanksgiving video to service members.
- Experts believe this claim is unrealistic.
- Tariffs are taxes on imported goods and are paid by businesses or consumers who buy those goods.
- The amount of money from tariffs is unlikely to match or exceed the money needed to replace federal income taxes, according to experts.
- Federal income taxes are a major source of U.S. government revenue.
