Donald Trump has argued that millions of Americans could see their income taxes reduced as a result of his extensive levies.  ,
The president claimed in a Truth Social post on Sunday that some people may experience” greatly reduced” or yet” complete elimination” once Washington begins to receive income from his self-described “reciprocal” tax policy.  ,
TRUMP TORNADO SHOCKED AMERICA AND THE Earth WITH A 100-DAY REPORT CARD
Trump stated that the administration would concentrate on lowering income taxes for people who earn less than$ 200, 000 annually.  ,
” It will be a BONANZA FOR AMERICA!” THE EXTERNAL REVENUE SERVICE IS AVAILABLE!!”! Trump praised the creation of new work.  ,
Trump made extensive levies on dozens of countries that were scheduled to go into effect earlier this month, setting a universal 10 % tax on the majority of products imported into the United States.  ,
Trump announced a 90-day pause to offer nations more time to come to a package with Washington regarding probably lower rates, but the majority of these taxes have not yet been implemented.  ,
The taxes have spewed waves of doubt throughout the world economy, as many people fear the negative consequences of the great rates, such as higher costs of goods within the U.S.  ,
JOE CONCHA: REALITY SAYS OTHERWISE, WHILE THE MEDIA WANT PRESIDENT AOC.
Trump has asserted on numerous occasions that taxes will offset American taxpayers by replacing the income tax.  ,
Nonetheless, economists are unsure whether this could work.  ,
A study conducted by the Council on Foreign Relations found that tax revenue generated by these Americans amounts to about$ 576 billion when compared to those earning less than$ 150,000. The research found that the lower 90 % of Americans who earn less money would be able to pay taxes on account of Trump’s existing tax rates, which are expected to decline.  ,
White House trade adviser Peter Navarro predicted that the United States could see tariff revenues of up to$ 600 billion in March.  ,
Says SUE TRUMP ADMINISTRATION TO TERMINATE Taxes
Many researchers are unsure whether or not it will actually reach that great.  ,
” You’ll be pretty lucky if you get to$ 100 billion to$ 200 billion,” Moody’s chief economist Mark Zandi told CNBC.
