Can Tariffs Replace Income Taxes?
We need to deal in reality instead of wishful thinking.
Can tariffs replace income taxes paid by Americans earning an income under $200,000 annually, as President Trump has suggested?
We seem to have entered a new world in 2025, or rather, reincarnated an older America whose tax receipts were heavily built on tariff payments. U.S. Secretary of Commerce Howard Lutnick recently stated that tariffs could replace income taxes paid by Americans making up to $150,000 per year.
And certain economic nationalists have urged that there is a vital causal connection here worth recalling in an “American system” of tariffs and protectionism, and the growth of American industry. They argue that America’s Gilded Age wasn’t regressive economically; in fact, the country exploded in growth, commerce and inventions.
Economic Dynamism
The Price of Stagnation: Britain’s Retreat from Dynamism
We face a basic issue: we do not let cities or communities grow or die.
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London and the Architecture of Creative Growth
Preserving London's creative dynamism will require humility from policymakers and a commitment to keeping the city liveable.
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The Beginning of the Warsh Fed Era
The Warsh Fed likely will not resemble the activist Bernanke-Yellen-Powell central bank of the recent past.
Proxy Advisors Vote “No” on Texas
The problem for the proxy advisory firms is that the corporate march to the Lone Star State won’t end with Exxon.
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