Americans (Mostly) Like Trump’s Idea
Of Replacing Income Tax With Tariffs:
I&I/TIPP Poll
Issues & Insights,
by
Terry Jones
Original Article
Posted By: RockyTCB,
12/23/2024 5:31:31 AM
Soon-to-be President Donald Trump has talked about getting rid of the U.S. income tax and replacing it with a system of tariffs. He has come under heavy criticism from Democrats and many economists. But average Americans appear to like the idea, with a plurality favoring Trump’s idea, the latest I&I/TIPP Poll shows.
The December online I&I/TIPP Poll asked 1,441 adults across the country the following question: “President Trump has talked about replacing the income tax with tariffs (taxes on selected imports). Would you support or oppose such a move?” The poll has a margin error of +/-2.6 percentage points.
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Reply 1 - Posted by:
Strike3 12/23/2024 5:50:41 AM (No. 1859816)
Any system that is not mandatory, not intrusive on every transaction in your life and not robbery at gunpoint would be a massive improvement.
41 people like this.
Reply 2 - Posted by:
DiegoDude 12/23/2024 6:31:28 AM (No. 1859830)
Anything to put the IRS out of business, works for me.
41 people like this.
Reply 3 - Posted by:
privateer 12/23/2024 6:44:55 AM (No. 1859836)
I like the idea of a consumption tax. That way, even the illegal alien 20% of our population would be forced to contribute. Ditto children and tourists, even the homeless.
31 people like this.
Reply 4 - Posted by:
MOBeef4u 12/23/2024 7:30:58 AM (No. 1859861)
Requiring tariffs to match the current tax receipts is a false argument. The federal government is a bloated monster that needs serious reductions. If DOGE can make a dent in the excess tariffs wouldn't need to be as high as estimated. Of course Dems hate the idea because redistributing wealth is their life's blood.
21 people like this.
Reply 5 - Posted by:
bpl40 12/23/2024 7:40:07 AM (No. 1859865)
While it is attractive in theory, there are two important drawbacks. One is the fact that the lower you go on the economic ladder, the greater is the portion of income consumed. So in effect this becomes an 'inverse proportional' tax system. Chances of being adopted are next to zero. Secondly, this is theoretically voluntary. In practice it will trigger a massive black market at the lower end. Making criminals of people who are struggling to survive. A far better system was proposed by Milton Friedman. Valid even today. An exemption of $9000/per person and a flat 17% tax on the rest. Capital gains to be adjusted for inflation.
13 people like this.
Reply 6 - Posted by:
RussZilla 12/23/2024 8:45:44 AM (No. 1859877)
What about retirement pensions? I know it’s a different topic, but it’s a big part of the economy? Government has been stealing money from social security and state pension fonds for decades. Tariffs and taxes are part of a bigger economic picture, and pensions and social security are on the same wheel. We’re in for a big reality check. It’s gonna get worse before it gets better.
4 people like this.
Reply 7 - Posted by:
DVC 12/23/2024 8:48:06 AM (No. 1859879)
Back to the future. The only source of federal revenue in the early days was tariffs.
17 people like this.
Reply 8 - Posted by:
franq 12/23/2024 8:58:17 AM (No. 1859884)
Some states don't tax food and clothing. That was the case in PA when we grew up there. Maybe it's changed.
4 people like this.
Reply 9 - Posted by:
Safari Man 12/23/2024 9:12:27 AM (No. 1859893)
How do I avoid the taxes then? I paid income tax my entire life and saved for retirement. Now that I am in retirement, I have no income and I'm trying to enjoy the fruits of my savings. But I'm being hit with the most insidious tax of all... inflation. I guess I can simply buy American, but it will be a long while before that fantasy comes to pass.
13 people like this.
Reply 10 - Posted by:
Strike3 12/23/2024 9:32:07 AM (No. 1859906)
Any reasonable system would work much better if not for bloated, wasteful government and $36 trillion of debt.
17 people like this.
Reply 11 - Posted by:
Encore 12/23/2024 10:21:26 AM (No. 1859941)
Any questions asked of democrats will be surely shot down when proposed as a Trump plan. Tell them Obama suggested it and see how the percentages change.
12 people like this.
Reply 12 - Posted by:
LC Chihuahua 12/23/2024 11:05:16 AM (No. 1859964)
Cut spending. Grow the economy to increase tax revenue. Raising taxes (or tariffs) much lower priority. Both will eventually reach a point of diminishing returns.
6 people like this.
Reply 13 - Posted by:
NamVet70 12/23/2024 11:53:58 AM (No. 1859979)
That reads like the way the USA government was funded before the creation of the income tax. Of course it was then augmented by a federal tax on whiskey, which forced President George Washington to order some unpopular enforcement. In my opinion that would be a very good move. It would definitely tend to move industry back into the USA and promote employment.
7 people like this.
Reply 14 - Posted by:
kono 12/23/2024 12:56:11 PM (No. 1860006)
Replacing income tax with tariffs seems to have a lot of potential tradeoffs. It might be harder to weaponize against particular groups of Americans, though, which seems like a big plus.
5 people like this.
Reply 15 - Posted by:
5 handicap 12/24/2024 6:23:09 AM (No. 1860385)
Most anything is better than the present Taxing System and the IRS.
9 people like this.
Reply 16 - Posted by:
Dodge Boy 12/24/2024 8:56:51 AM (No. 1860454)
Interesting angle. Replacing the federal income tax with a consumption-based sales tax. So, whenever we stop consuming, so does the federal government. I like it.
6 people like this.
Reply 17 - Posted by:
franq 12/24/2024 8:59:20 AM (No. 1860456)
Unless spending and non-Constitutional programs are cut, any idea is for naught.
The monster will still need fed.
6 people like this.
Reply 18 - Posted by:
Lawsy0 12/24/2024 9:19:15 AM (No. 1860468)
Go back to taxing tea.
5 people like this.
Reply 19 - Posted by:
Zigrid 12/24/2024 10:02:52 AM (No. 1860495)
Looks like Lois Lerner will have to look for another job....justice for the Tea Party folks...I love it!!
5 people like this.
Reply 20 - Posted by:
b4lucy 12/24/2024 12:56:43 PM (No. 1860578)
This is kinda like a Federal sales tax on all purchases of imported goods...with no Federal sales tax on all domestic purchases...which also gives our domestic producers and manufacturers an edge on sales....I'll trade that for erasing our confusing and egregious Federal Income Tax any day!!!!....This action will also lead to rising domestic sales..(buy American) and lowering foreign goods purchases...(correcting trade imbalances).....Good thinking Mr. President, it's why I voted for you, three times.....Well played...
5 people like this.
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