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Will the U.S. increase tariffs on foreign nations by the end of 2025?
3
Donald Trump•Internal Revenue Service•IRS•Trump•United States•Congress•McKinley•Theodore Roosevelt•America
Resolution / Starting Odds
Yes • 50%
No • 50%
Official announcements from the U.S. Trade Representative or government agencies
Story
Trump Urges Congress to Abolish Income Tax, Return to Pre-1913 Tariff System
Jan 28, 2025, 12:16 AM
President Donald Trump has proposed abolishing the federal income tax and the Internal Revenue Service (IRS), suggesting that tariffs on foreign nations should replace income taxation. In recent statements made on January 27, Trump noted that the United States had no income tax prior to 1913 and called for a return to the system that he believes made the nation richer and more powerful in the past. He urged Congress to abolish income tax, stating, "Instead of taxing our citizens to enrich foreign nations, we should be tariffing and taxing foreign nations to enrich our citizens." Trump cited historical precedents, mentioning Presidents McKinley and Theodore Roosevelt, and asserted that tariffs would make America rich again.
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