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Trump wants no tax on people making under 150k per year?

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They just threw that out there to test the idea. They will have to generate $3T from something other than taxes to make that work.

Might be why tariffs and other things are being put in place.

Folks above 150k/yr would have to pay around 35k for taxes.

But if counterparties throw tariffs back, like they have, then nothing changes.

Gonna be a tough one indeed. IMO it's going to be through classical Merchatilism.

Also add in doge "saved amounts".

We've yet to confirm what's legit yet.

As it stands, the USA has a deficit each tax year. In other words, less tax is being collected each year.

So it's not sustainable to tax lower income earners without taxing them more.

For instance a tax of 1% on a billon is substantially higher than 1% on 150k, this they have to do like 20% just to mitigate the difference.

Idk how he plans on not taxing the rich and the poor..

I think they will try to replace income taxes by the income from tariffs

I think it will be one of many tools used to do so.

3yrs from now is the goal I heard. Ideally 2, for gaining during the midterms.

No, he just declared 25% additional taxes for everyone for imported goods from Canada.

He's just meddling around.