So there's this wild idea floating around lately—what if tariffs could actually replace income taxes as the government's main cash cow? Economists are scratching their heads over this one. The math just doesn't add up for most of them.
Think about it: the federal government pulls in trillions from income taxes every year. Customs duties? That's pocket change in comparison. We're talking maybe 2-3% of total revenue on a good year. To flip that script, you'd need tariff rates so astronomical they'd probably torch international trade altogether.
Sure, it sounds appealing on paper—tax goods coming in instead of paychecks going out. But the ripple effects? Higher consumer prices, potential trade wars, supply chain chaos. Most experts see it as more of a political talking point than a realistic fiscal strategy. The gap between theory and practical implementation is... let's just say it's massive.
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Degentleman
· 5h ago
Tariffs replacing income tax? That sounds about as realistic as utopian socialism—it might work on paper, but in practice, it’s full of pitfalls.
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HappyToBeDumped
· 5h ago
LOL, here we go again? Replacing income tax with tariffs, how wild does your imagination have to be...
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The numbers just don't add up, guys. Using 2-3% of revenue to fill a trillion-dollar gap? That's suicide.
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Sounds nice, but in reality it's just a disguised price hike. Who's going to foot the bill in the end? Us consumers, of course.
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Anything looks good on paper, but it's a whole different story when implemented... Once a trade war starts, you'll see how bad it gets.
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Ideas like this are usually just politicians talking. If you let real economists do the math, they'd shut it down immediately.
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Tariffs skyrocket = prices go through the roof, supply chains thrown into chaos... My prediction is there's no way this will happen.
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Wait, so the logic is to jack up product prices to cover the tax gap? That's toxic.
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OvertimeSquid
· 5h ago
Tariffs replacing income tax? What a joke, that's just politicians' fantasy fiction.
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The mathematical inequality is right there, yet they insist on twisting it... It's truly absurd.
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Instead of fantasizing about this, why not think about how to actually use tax revenue effectively? The current schemes just keep coming.
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Who suffers most when a trade war breaks out? In the end, it's still us ordinary folks getting hurt.
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So this is what's called a "creative economic policy," huh? Just a pipe dream on paper.
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Once the supply chain is disrupted, prices will skyrocket. Who will care about ordinary people's wallets then?
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CexIsBad
· 5h ago
It's the same set of deceptive political rhetoric again. Replacing income tax with tariffs? Dream on.
So there's this wild idea floating around lately—what if tariffs could actually replace income taxes as the government's main cash cow? Economists are scratching their heads over this one. The math just doesn't add up for most of them.
Think about it: the federal government pulls in trillions from income taxes every year. Customs duties? That's pocket change in comparison. We're talking maybe 2-3% of total revenue on a good year. To flip that script, you'd need tariff rates so astronomical they'd probably torch international trade altogether.
Sure, it sounds appealing on paper—tax goods coming in instead of paychecks going out. But the ripple effects? Higher consumer prices, potential trade wars, supply chain chaos. Most experts see it as more of a political talking point than a realistic fiscal strategy. The gap between theory and practical implementation is... let's just say it's massive.