Trump proposes replacing income tax with an all-tariff policy

The Biden administration is pushing back against former President Trump's plan to replace income taxes with tariffs. Meanwhile, US Treasury Secretary Janet Yellen has warned that the tariffs could make life even more unaffordable for American consumers.
Yahoo Finance's Rick Newman reports more on the differences between Biden and Trump's tariff agendas and how they may impact consumers' cost of living..
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[TinkerDeLorean]

As an American, I want to be able to decide where my tax dollars go.

[candismetz]

Blah blah blah.
Yes, actually we are paying attention. And we're NOT stupid. Income tax was supposed to be temporary when it was first imposed, but government got greedy!

[stefanmiller]

That is what the governments originally did before the income tax that began in 1913. Its not a new idea

[nancymiller]

So Make It in America, let's give jobs to our people.

[sunshine]

It won’t be unaffordable. It will allow you to buy what you need and pay taxes on what you buy. These people want you to pay taxes because they know they are going to get their money from you or you go to jail. This is a good idea because we could bring manufacturing jobs back to America

[Susanhartman.]

The utilization of after-tax money and tax-free growth makes opening a Roth IRA very advantageous. Through a careful guidance of my FA, I did not pay taxes on my withdrawals of $2.86 million when I retired.

[tonyamosig]

FINALLY!!! CHARGE COMPANIES FOR USING "OUTSOURCING"..IE WE DON'T WANT TO PAY MINIMUM WAGE SO WE'LL CHEAT TO GET RICH. END THAT CRAP!!

[j.j.guerrieri]

Fact is that the government is super irresponsible with tax dollars, if we can no longer even have an ounce of trust in them then taxes should be done

[tommythompson]

Now is EXACTLY the time to do it .we are tired of politicians taking our money and giving it away and getting their own bank accounts to swell !!

[DamienFaust-mc]

an increase in price of foreign products allows American companies to under cut and flourish

[thomascorbett]

Well that's how the country used to be funded and it worked very well .

[DTRYMN]

Many people have and will say this but just another reminder, income tax was always supposed to be TEMPORARY. The US Gov just got used to the free money.

[sharondowns]

Get rid of real estate taxes and personal property taxes too.

[votaric]

Bring manufacturing jobs back to US soil! YES!

[Linux]

Income tax is so out of hand!!! But all the current administration wants to do is raise it and continue making stuff less affordable

[Sylvan_dB]

That would be constitutional and take us back to pre-1913 tax regimen.

[viper]

The idiots telling you this is a bad idea are the same idiots that have gotten us into the mess we're in

[sherievostad]

Tariffs make sense-taxpayers should not be paying for foreign wars or defending other countries borders.

[daemonsilver]

Oh, so *now* they're concerned about consumers. Why weren't they concerned about consumers when they decided that they were going to put all kinds of gains taxes on big corporations? Why weren't they concerned about consumers when they started attacking small businesses? Why weren't the liberal governors concerned about the consumers when they shut down all the small businesses for months on end?

[jimrockford]

For it as long as the income tax is permanently removed and can't be brought back.