Former U.S. President Donald Trump suggested eliminating income taxes and replacing them with revenue from tariffs during an appearance on the Joe Rogan Experience podcast on Friday.
Trump attacked businesses that relocate their manufacturing abroad, suggesting heavy tariffs as a punishment for such behavior. Claiming they are more precious than "love," he said tariffs might make the United States rich.
"Yeah, sure, but why not?" Trump said when Rogan asked if he was serious about substituting tariffs for income taxes.
Referring to previous U.S. President William McKinley, who ruled from 1897 until his murder in 1901, Trump also lauded him as the "tariff king." Trump said that unless they pay "a big price," the United States should levy tariffs to stop foreign rivals from grabbing manufacturing and employment.
Trump has floated ideas of substituting tariff revenues for federal income taxes before now. He proposed in June the idea that federal income taxes may be replaced by tariffs. More recently, Trump praised late 19th-century tax regimes that depended solely on tariffs during a Fox News broadcast at a Bronx barbershop.
Trump has also suggested doing away with many additional taxes, including those on tips, overtime, Social Security benefits, and exemptions for veterans, military people, and first responders.
