Oppose Elimination of Income Tax Based on Tariff Revenue
3 so far! Help us get to 5 signers!
I am writing to express my deep concern regarding President Trump's recent statement about potentially eliminating income taxes based on tariff revenue. This proposal, while seemingly attractive on the surface, is fundamentally flawed and could have severe consequences for our economy and the American people.
The President's claim that tariff revenue could replace income tax is not supported by economic realities. According to the Tax Policy Center, Trump's 2025 tariff actions are projected to generate about $2.3 trillion from 2026 to 2035. While this is a significant sum, it pales in comparison to the revenue generated by income taxes, which the Congressional Budget Office projects will exceed $28 trillion over the same period.
Moreover, tariffs are essentially a tax on American consumers and businesses. The Tax Policy Center estimates that these tariffs could increase the average household's costs by about $2,200. This burden disproportionately affects lower and middle-income families, effectively negating any potential benefit from income tax elimination.
The Penn Wharton Budget Model shows that the U.S. has collected over $320 billion in customs and excise taxes as of November, up from $171 billion at the same point in 2024. However, this increase in revenue comes at the cost of higher prices for goods and potential job losses in industries affected by retaliatory tariffs from other countries.
Furthermore, the President's suggestion that tariff revenue could be used to pay down the national debt while also eliminating income tax is mathematically impossible. The national debt currently stands at over $30 trillion, and eliminating our primary source of government revenue would only exacerbate this problem.
I urge you to publicly oppose this misguided proposal and instead advocate for responsible fiscal policies that balance the need for government revenue with the economic well-being of all Americans. We need policies based on sound economic principles, not desperate attempts to boost poll numbers at the expense of our nation's financial stability.