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Replacing income tax with tariffs

Trump floated the idea of replacing the progressive income tax with tariffs and cited the prosperity under former President William McKinley as an example of why he supports them.

"Yeah, sure. Why not?" Trump responded when Rogan asked him whether he was serious about getting rid of the income tax. "Because, we, ready, our country was the richest in the, relatively, in the 1880s and 1890s. A president who was assassinated named McKinley — he was the tariff king. He spoke beautifully of tariffs."

“And then around in the early 1900s, they switched over stupidly to frankly an income tax. And you know why? Because countries were putting a lot of pressure on America: ‘We don’t want to pay tariffs, please don’t.’ You know they, believe me, they control our politicians,” Trump said.

Trump has expressed willingness to enact a tariff on all imports of up to 20% and a tariff of up to 60% on Chinese imports to encourage U.S. manufacturing.

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