President Trump asserts that his tariffs on foreign countries will lead to lower taxes in the US, aiming to replace income tax revenue for those earning under $150,000 with tariff revenue.
However, economic experts express skepticism, citing insufficient revenue from tariffs to fully replace income tax revenue and predicting negative economic consequences such as a potential 0.7% reduction in US GDP and 0.4% inflation increase.
Despite the complexity and uncertainty surrounding the plan, a key meeting is scheduled to discuss Trump's tax package, highlighting the ongoing debate and potential impact on US taxpayers. Show Less
