Economic response to federal income tax abolition proposal by end of 2025
Stock market rises • 25%
Stock market falls • 25%
Inflation rises • 25%
Inflation falls • 25%
Economic reports from the Federal Reserve or major financial institutions
Trump Considers Abolishing Federal Income Tax, NYT Reports
Jan 22, 2025, 04:25 PM
President Donald Trump is reportedly considering abolishing the federal income tax, according to sources cited by The New York Times. This potential policy shift has sparked discussions among various stakeholders and the public, reflecting a broad range of opinions on the implications of such a significant change to the U.S. tax system.
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Fail • 25%
Postponed • 25%
Pass • 25%
Other • 25%
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No significant changes • 25%
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Passed with modifications • 25%
Passed without changes • 25%
No decision by end of 2025 • 25%
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No significant change • 25%
Increase in share buybacks • 25%
Increase in capital investments • 25%
Increase in employee wages • 25%
Libertarian Party • 25%
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Republican Party • 25%
Neither cut implemented • 25%
Only dividend tax cut implemented • 25%
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Other social program cuts • 25%
Medicaid cuts • 25%
Republicans oppose, Democrats support • 25%
Both oppose • 25%
Republicans support, Democrats oppose • 25%
Both support • 25%