个人所得税

Have you heard? Trump recently announced a plan to promote the elimination of personal income tax in the future. He hopes to replace the current personal income tax system by increasing tariff revenues, so that the public no longer needs to pay personal income tax. This plan has sparked widespread attention and controversy. Let's explore a few questions.
1. Can tariffs sustain the U.S. government?
First, let's look at a set of numbers:
In fiscal year 2024, the total revenue of the U.S. federal government is approximately $4.9 trillion, of which personal income tax contributes over $1.6 trillion, accounting for nearly half. This is the most stable and important source of revenue for the United States.