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Ironically, what Trump calls a "complete victory" will be a catastrophic loss for Americans, as eliminating the income tax in exchange for astronomically increasing tariffs will turn America from an economic superpower into a "supermarket" where no one can buy anything anymore.
US President Donald Trump seems determined to go down in history as the “tariff king,” promising to completely eliminate income taxes. At first glance, this idea sounds like a tax haven for Americans, but behind Trump’s populist promises lies an economic reality that could be devastating for the US and the world.
In a statement from Air Force One, Trump pompously announced that revenue from tariffs on imports would completely replace payroll taxes. “We’re going to get so much from tariffs that there’s no need for an income tax,” Trump declared, offering Americans the illusion of a fiscal utopia.
But economic experts do not fall into this propaganda trap. On the contrary, they warn that to realize this absurd scenario, tariffs on imports would have to rise to record levels—at least 100% to 200%, driving the prices of basic goods into the stratosphere and destroying the standard of living of American citizens.
According to analysis by renowned economist Torsten Slok, if Trump really is going to replace the $3 trillion a year income tax with import tariffs, they would have to be so high that they quadruple the price of every foreign product entering America. This means that everything from cell phones, televisions, cars, to clothing and basic food will become unaffordable for ordinary families.
If Trump pursues this economic folly, Americans could face a consumption collapse and a guaranteed recession. In addition, the disastrous effects would extend to the global economy, triggering trade wars and severely hurting the US’s biggest trading allies, including Europe, Canada, and China.
Ironically, what Trump calls a "complete victory" will be a catastrophic loss for Americans, as eliminating the income tax in exchange for astronomically increasing tariffs will turn America from an economic superpower into a "supermarket" where no one can buy anything anymore.
For American citizens, it seems that the only remaining solution is to either accept this economic madness and prepare to eat the "grass" of tariffs, or react before their country heads towards the financial abyss that Trump is preparing with his own hand./ Pamphlet
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