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The federal taxes ‘greatly reduced’ once settled in: Trump


U.S. President Donald Trump has recently said that federal income taxes are “significantly reduced” or potentially removed once the tariff regime is fully set.

In an April 27 truth social PostTrump added that the focus of the purported tax cut is to individuals who make less than $ 200,000 per year.

The US president also said the “external income service” – a reference to funding the federal government exclusively by importing tariffs instead of the current tax collection model through the Internal Revenue Service (IRS) – is materializing.

Removal of federal income tax is likely to be a positive catalyst for property prices, including cryptocurrencies, as increasing income available should be slightly flowing back to productive investments. However, this stimulus effect is not guaranteed.

Tax, US government, United States, Donald Trump
Source: Donald Trump

Related: If Trump fired Powell, what would happen to Crypto?

Trump’s plan leaves analysts and market doubts

Trump had previously floated with the idea of federal income tax deleted In a look of October 2024 to Joe Rogan’s experience, Although Trump, who was on the campaign route at that time, provided concrete details on the proposal.

The US president suggested that changing the federal income tax with income from import duties would return the US to a time of prosperity seen during the gilded age, in the 19th -century, when the US had no permanent federal income tax.

Research conducted by the accounting automation company dancing the numbers found that Trump’s proposal could I -save the average American $ 134,809 In lifelong tax payment.

Dancing numbers added that tax savings could be more $ 325,561 per American if other wage -based taxes were also removed.