look news india
Washington: US President Donald Trump has created a stir worldwide with the onset of his second term. Trump is surprising the world by taking decisions one after the other. After starting a campaign to immediately ban illegal immigrants from the US, Trump has now surprised the world by announcing a new strategy which will have a major impact on the US economy. Trump said that he may soon eliminate the income tax system in the US and impose tax on other countries to fill the American treasury.
US President Donald Trump said that he is preparing to end the income tax system in the country. They are considering implementing tariffs instead. Trump believes that through this strategy, he can collect heavy funds from other countries instead of his citizens.
Trump has already advocated to eliminate the country’s income tax system and put tariffs on goods in other countries. Although no official order has been given yet to abolish income tax in the US, it is clear from Trump’s attitude that he can take a big step in this direction. At the Republican Conference held on Monday in Dorl, Florida, Trump proposed to abolish the income tax system in the country.
Trump said that by eliminating the income tax system, we can increase the disposable income of American citizens. In the US, the remaining income after taxes and other social security charges is called disposable income. Trump claimed that by taking steps to eliminate income tax, we can bring back the system that made America rich.
Trump reminded us of American history and said that now the time has come when we should return to the old system. That system made us more rich and powerful than before. We have to take concrete initiative to enrich our citizens. For this, instead of imposing tax on our citizens, we have to impose tax on foreign countries.
From 1870 to 1913, this country was the richest in American history. Trump said that at that time the US was so rich that the government had to form a commission to find out where and how the money was being used. At that time, tariff -based economy was running in the country. We should return to that old system. ‘ While taking oath of presidency on January 20, Trump also said that there is no need to tax his citizens to enrich foreign countries. Eliminating income tax will cost the government exchequer, but by increasing the import duty, that burden can be reduced. However, many major economists disagree with Trump’s plans. He has expressed concern about Trump’s plans.