The Tariff Crusade: Trump’s Vision of a Tax-Free America
In a straight-shooting interview on the Joe Rogan Experience, former President Donald Trump laid out a novel play to scrap federal income tax entirely. Instead, he thinks the United States could bankroll itself with tariffs on imports, in a throwback to the policies of President William McKinley. Trump says McKinley’s 1890s tariff wave turned America into a cash-stuffed vault, with government coffers bursting at the seams.
“We were so rich. We had so much money. We didn’t know what to do, so they set up a blue ribbon commission on tariffs,” Trump told Rogan, recounting how officials back then pondered just how to spend their surplus. Trump believes that a modern tariff blitz could reignite dollar demand, pad domestic jobs, and fuel American exports, all while axing the need for income taxes.
Skeptics, though, call this a mirage. They argue tariffs could sneakily tax consumers by pushing up prices. So while tariffs may add fuel to US industry, they risk making everyday goods a pricier ordeal for regular folks.
Bitcoin Debt Nuking? Trump Suggests Paying Down $35 Trillion with BTC
But wait—Trump’s maverick money musings don’t end with tariffs. During a sit-down with Fox News’ Maria Bartiromo, he teased that Bitcoin might help shave off the national debt. As it stands, the US debt is a towering $35 trillion. But Trump’s play here? Maybe hand out “a little Bitcoin” to the creditors.
Bryan Courchesne, an asset manager with a nose for crypto strategy, sees a BTC-funded reserve as challenging but within reach. In fact, the Department of Justice (DOJ) holds around 200,000 Bitcoin scooped up from law enforcement busts. Courchesne argues that shifting this BTC to the US Treasury could plant the seeds for a strategic reserve, though navigating the red tape won’t be a walk in the park.
RFK Jr. and the Bitcoin Reserve Ripple
Trump isn’t the first candidate to flirt with crypto-backed government coffers. Earlier this year, Robert F. Kennedy Jr., then running as an independent, proposed a similar Bitcoin-based stabilization plan for the US dollar. Before he stepped away from the race, Kennedy floated the idea that Bitcoin could serve as a shield for the dollar against inflationary storms. His vision echoed Trump’s by suggesting Bitcoin might act as a backup reservoir for the country, a potential bulwark against economic swings.
Between Trump’s tariff talk and crypto musings, one thing’s clear: the old rules of fiscal policy are getting a second look, and crypto’s creeping closer to the halls of power.
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