In recent statements, US President Donald Trump suggested that the federal income tax could be "completely" eliminated thanks to increased revenue from tariffs. Trump specifically defends this idea by referencing the late 19th-century US economic model, claiming that tariff revenues would make the country rich again. In a post on Truth Social yesterday, Trump stated, "Tariffs and only tariffs created this tremendous wealth for our country. Then we went with income tax. We've never been richer than we are now. Tariffs will pay off our debt and make AMERICA RICH AGAIN!" This statement echoes similar views expressed in a meeting with military personnel in November 2025. At that time, Trump said, "We will significantly reduce, perhaps completely eliminate, the income tax in the next few years." The President's proposal is based on the aggressive tariff policies he implemented during his second term. Tariff revenues are projected to reach approximately $195 billion in fiscal year 2025, while some estimates suggest it could approach $400 billion in 2026. The Trump administration increased this revenue by imposing tariffs ranging from 10% to 60% on goods imported from foreign countries. White House spokespeople argue that these policies protect the U.S. economy by increasing costs for foreign exporters.