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Kiplinger
Kiplinger
Business
Kelley R. Taylor

‘Back to the Old Days’? What’s Wrong With Trump’s Plan to Abolish Income Tax

Image of a 1900 US penny.

Donald Trump has once again stirred the debate on tax policy, recently advocating for eliminating income tax and returning to a tariff-based revenue system.

"We're going back to the old days. No income tax, just tariffs. It worked before, and it'll work again," Trump said during a January 25 event in Las Vegas, Nevada. He emphasized his point by adding, "The IRS is a disaster. We don't need it. Tariffs will fund everything we need and more."

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