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Former US President Donald Trump has revived his proposal to eliminate federal income taxes, suggesting they could be replaced by revenue from import tariffs. The plan, targeting individuals earning under $200,000, could boost disposable income and potentially benefit asset markets like crypto.
- Trump's tariff-based tax plan could save Americans $134,809 on average over their lifetime, with potential savings up to $325,561 if other wage taxes are cut.
- The proposal has sparked market volatility, with fluctuating tariff policies impacting stock prices and bond yields.
- Analysts warn that protectionist trade policies may hurt capital markets without delivering significant economic benefits.
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Related Tags: Donald Trump
Other Tags: Internal Revenue Service (IRS), IRS