Would Trump's Plan to Replace Income Tax with Tariffs Work?

Mises Institute

Bob analyzes President Trump's recent remarks praising the revenue capacity of tariffs. He shows that historically, tariffs only bought in a small fraction of what income taxes currently yield, meaning federal spending would have to be sharply cut in order to phase out the income tax. HAPod Ep. 458 on Tariffs vs. Income Taxes: https://Mises.org/HAP485a Brian Domitrovic's Forbes Article, "Supply-Siders Battle Their Tariff Critics": https://Mises.org/HAP485b Trump on Tariffs: https://Mises.org/HAP485c The Chart Shown in this Episode: https://Mises.org/HAP485d