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Market
Public opinion on Trump's tariff proposal by Election Day 2024?
5
Resolution / Starting Odds
Favorable • 33%
Unfavorable • 33%
Neutral/No opinion • 34%
Polling data from reputable organizations like Gallup or Pew Research Center
Story
Trump Proposes Replacing Income Tax with Tariffs, $500 Billion Middle-Class Tax Hike
Jun 13, 2024, 04:52 PM
Former President Donald Trump has floated the idea of replacing the income tax with an 'all tariff policy,' according to sources. During a meeting with House Republicans, Trump suggested that tariffs could be used to eliminate taxes on tips and counter adversaries. He noted that tariffs were a key funding mechanism for government operations before World War I. Economist Paul Krugman estimated that this policy would require an average tariff rate of 133 percent. Biden campaign spokesperson James Singer criticized the proposal, calling it a historic $500 billion a year middle-class tax hike that would raise prices to benefit the richest Americans. Trump also mentioned using tariff hikes to fund some income tax cuts.
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Majority Support • 33%
Majority Oppose • 33%
Evenly Split/Undecided • 34%
Majority Support • 33%
Divided Opinion • 33%
Majority Opposition • 33%
Significant Negative Shift • 50%
No Significant Shift • 50%
Strongly Support • 25%
Somewhat Support • 25%
Somewhat Oppose • 25%
Strongly Oppose • 25%
Increases political support for Biden • 25%
Decreases political support for Biden • 25%
No significant effect on Biden's support • 25%
Polarizes opinions further without clear support shift • 25%
Below 40% • 33%
40%-50% • 33%
Above 50% • 34%
Significantly less favorable • 25%
Somewhat less favorable • 25%
No change • 25%
More favorable • 25%
Majority views negatively • 50%
Majority views neutrally or positively • 50%
Above 50% • 33%
Between 30% and 50% • 33%
Below 30% • 33%
Favorable • 33%
Neutral • 33%
Unfavorable • 34%