Part 7/8:
If Trump’s proposal were to garner support, its execution would undoubtedly be a herculean task in a complex legislative environment. Enacting such sweeping changes not only requires immense public and political backing but also an upgrade to the overall structure of government spending in an ever-evolving economic backdrop.
While the proposal to replace income tax with tariffs is ambitious and indeed harkens back to a historical precedent, its successful implementation would require intricate planning and a realistic appraisal of current geopolitical dynamics.