President Donald Trump’s National Economic Council Director, Kevin Hassett, recently explained the administration’s plans to remove the federal income tax, a move that could save most American families tens of thousands of dollars each year. According to Hassett, revenue collected from tariffs waged against foreign nations such as China could offset the decline in tax collections from ending income tax.
A reporter broached the topic during a recent press conference at the White House, asking, “President Trump has spoken about replacing income tax with tariff revenue, especially with all this waste, fraud, and use that we’re seeing. is that a possibility?” Hassett explained this was the president’s plan all along.
The economic advisor replied, “Absolutely and in fact, if you think about the China tariff revenue that we’re estimating coming in from the ten percent that we just added, plus the de minimis, say that it’s between five hundred billion and a trillion dollars over 10 years is our estimate.”
Hassett maintained this would make it easier to pass a bill rescinding income tax. “And that’s something that is outside of the reductions that markets are seeing through the negotiations up on The Hill and so we expect that the tariff revenue is actually going to make it much easier for Republicans to pass a bill, and that was the President’s plan all along,” he said.
The news has sparked celebratory commentary from conservatives on social media, where the popular X account MJTruthUltra wrote, “It’s inevitable now… Income Tax is going away! Trumps National Economic Council Director on replacing the income tax with tariff revenue… is that a possibility?”—— Absolutely…. It was his plan all along. Abolishing the federal income tax will save families roughly between $5,000 to $20,000 a year… depending on earned income. But the real savings comes from the domino effect this will have on everything else… This is just the beginning.”
The American Tribune reported on comments from Trump last year in the run-up to the election, when he explained that “there is a way” to eliminate income tax entirely. “In the old days, when we were smart, when we were a smart country in the 1890s and all, this is when the country was relatively the richest it ever was. It had all tariffs. It didn’t have an income tax,” Trump said.
He continued, “Okay, now we have income taxes and we have people that are dying, they’re paying tax and they don’t have the money to pay the tax.” Citing American political history, he continued, “You know, in the old days, 1890, 1880, we had so much money they had to set up committees, blue ribbon committees, how to spend our wealth. We had no idea how to spend, it was so much money.”
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Watch Hassett below:
“Then we went to the income tax system and the rest is sort of history,” he said, acknowledging the United States doesn’t have to enforce an income tax going. “But no, there is a way. I mean, if we, if what I’m planning comes out — it’s a great question, by the way.” Watch Trump answer the question below: