A guy I watch ran the numbers about it actually, and the results were funny. Basically, presuming that imports and purchasing trends stayed the same, to replace income tax with tariffs, everything being brought in would have to get a near 100% tariff to cover the difference.
Basically have to double the cost of living in order to cover the lost income from getting rid of income tax.
A guy I watch ran the numbers about it actually, and the results were funny. Basically, presuming that imports and purchasing trends stayed the same, to replace income tax with tariffs, everything being brought in would have to get a near 100% tariff to cover the difference.
Basically have to double the cost of living in order to cover the lost income from getting rid of income tax.