Riti Chan

November 2025 – President Donald Trump has revived a bold idea: substantially reduce or even eliminate federal income taxes and fund the government primarily through import tariffs.
Key points of the proposal:
Shift revenue from income taxes (currently ~$2.2 trillion/year) to tariffs on imported goods. Trump claims expanded tariffs could generate hundreds of billions annually, eventually making income-tax elimination feasible within a few years.Early focus may be on eliminating taxes for Americans earning under $150,000, plus exemptions for tips, overtime, and Social Security benefits.
Why experts say it’s extremely difficult
Current tariffs bring in only ~$80–100 billion per year — less than 5% of income-tax revenue. Even aggressive new tariffs (10–60%) are projected to raise $225–400 billion at most — still far short of replacing $2.5+ trillion in income and corporate taxes. To fully replace income taxes, average tariff rates would need to exceed 70%, which would sharply reduce imports, spike consumer prices, and trigger global retaliation.

Likely real-world effects
Higher prices for clothing, electronics, cars, and many groceries (estimates: +$1,900–$3,000 per household annually). Bigger paychecks for workers (no federal income tax withheld), but much of the gain could be offset by inflation. Supply-chain disruption and potential job gains in U.S. manufacturing vs. job losses in export sectors. Increased economic uncertainty and risk of trade wars.
While the idea appeals to many as a pro-worker reform, most economists across the political spectrum consider a full replacement of income taxes with tariffs mathematically and practically unfeasible without massive spending cuts or unacceptable price increases.
The administration is moving forward with tariff plans regardless, but any income-tax elimination would require Congress and faces steep fiscal hurdles.

#Write2Earn #BinanceHODLerAT #TRUMP
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Hey Crypto Community! @CZ
If your portfolio's flashing red right now, you're not alone. The crypto market just shed $140 BILLION in market cap over the last 4 hours (as of Dec 1, 2025). Bitcoin? Slid from a comfy $91K to below $85.5K – a brutal 5%+ nosedive. ETH dipped under $3K, SOL and XRP tanked 7-10%, and altcoins? Oof, double-digit bloodbaths across the board. Why the Sudden Meltdown? Here's the real tea, straight facts:Liquidation Avalanche: Panic selling kicked off a chain reaction of forced closures on leveraged positions. Billions in longs got wiped – platforms were scrambling to catch up!
Fed Fears Looming: Eyes on Jerome Powell's upcoming speech ahead of the FOMC meeting. Rate cut odds jumped to 87% for 350-375 bps, but uncertainty = volatility city. Traders hit the brakes hard.
China's Crypto Crackdown Reloaded: PBOC doubled down on the ban, warning of tougher stablecoin rules. Global jitters? Instant sell-off trigger.
Whale Watching & Macro Vibes: Big holders dumping to exchanges, plus spillover from shaky stocks (Nasdaq, Tesla vibes). It's all connected in this wild ride.
Crypto's no stranger to these gut punches – remember, we've bounced back from worse! But DYOR, HODL smart, and maybe zoom out for that bigger picture.
What's your take? Fed fallout or just healthy correction? Drop your thoughts below!

#Write2Earn #CryptoCommunitys

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