Well, a tariff on imported goods would immediately result in a jolt among American businesses as they try to figure out new ways to achieve the low costs enjoyed prior to the tariff (this is assuming the tariff applies to everything from raw materials to final products). I believe this would spur on innovation and efficiency for the betterment of consumers. As for imported final goods, America may suffer from a temporary loss of cash flow but long-term, it will adapt and with virtually no income tax, consumer spending and positive sentiments will rise.
The main argument for the income tax is, "how would we fund the country's infrastructure, and its military". Before the income tax was established in 1913, Americans kept 100% of their earnings, despite this we had roads,advanced infrastructure, and an army, navy, and marine corps that won eight wars and fought one, the war of 1812, to a draw. Establishing tariffs on foreign goods mainly from asian countries such as china,japan, and Indonesia would help bring jobs back to America and combat the current issue of lack of jobs facing many people today.
Abraham Lincoln once said “give me a strong tariff and I will deliver the greatest country in the world.” Tariffs were for much of America’s history a fact of life. The founding fathers passed laws enacting tarrifs to protect Americans from cheap forgien goods and promote American entrepreneurs. The income tax is a comparatively recent invention designed to help pay for a very grisly and costly war with the understanding they would go away when we no longer needed to pay for said war. In the modern era we as Americans produce far fewer finished goods than we import at the cost of stagnated wages. Wages that are then taxed! Tarrifs not only put more money into the pocket of the American worker they promote putting more Americans to work in high paying jobs. What’s to hate?
US is facing a wide gap between the poor and the rich because of income inequality, so income tax can help to redistribute the prosperity from the rich to the poorer. Besides that, changes in tariff on imported goods is difficult to implement cause it is the bound in different trade agreements that US has signed. And most imported goods is created through outsourcing activity of multinational corporations which mostly emerged from US. Hence, it will reduce the repatriated profits to US.
God no this shouldn't happen! Tariffs, along with other forms of protectionism, are proven to harm the economy. This would cause a trade war with whatever country we raise the tariff with, which would render our move ineffective. They'd raise their tariffs too, making products more expensive and ultimately hurting the consumer more than income tax would. The income tax is a useful tool- tariffs are pointless barriers of free trade.
Something definitely needs to be done about the income tax, but a tax on imports would drive away out-of-country producers. This, as a whole, would injure the U.S. economy, as less cash would be flowing into the businesses/households of America. In-country producers could raise their prices, hurting the profits of businesses, which could result in layoffs and/or lower wages. Finally, America is mainly a service-based economy, with most of the capital held in fields other than manufacturing. Bringing in imports from Asian countries lowers the cost for businesses, while bringing cash into developing countries. In the end, that benefits everyone.