Donald Trump Calls For ENDING Federal Income Tax, Wants To INCREASE Taxes On Foreign Nations

The issue is not that Tariffs can't work, the real issue is the transition. When every price appears to rise more than %30 while you still pay state income tax... Most industries will need to either move back to the US which would gut their bottom line for years if not decades or new industries would need to start up to provide the goods and services; they would have to compete with established companies with the only possible benefit being less impact by tariff; though parts of just about everything (even raw materials, is still mostly from Asian countries. if better AI comes along most of the work could be performed by that and robots, though the investment costs would be staggering... so, it would get incredibly painful either way. -tin foil hat time- an amazing chance to start a new currency under a new 'corporation', the transition to gold backed currency and massive deflation could be hidden at the front, the new corporation US-whatever could use it's initial wealth to purchase large portions of the existing economy with the new massively deflated currency; setup awesome investment portfolios to replace SSI, then slowly adjust the USD to be a trade-able percentage with the favorable exchange being only accessible to "full citizens" cut out globalist interests while upholding citizen rights and value of existing pensions/retirements/economic vehicles.... -tin foil hat time-

What is he planning to replace it with? Hate it - but the Income Tax is the backing of the US Dollar.