Part 4/12:
The push to dismantle the income tax isn’t merely about tax reform; it’s driven by an existential crisis within the federal government’s finances. Under Trump’s analysis, the U.S. is mired in a spending spiral, compounded by astronomical debt levels. In just the first seven months of fiscal year 2024, the government allocated $514 billion solely for net interest payments on the national debt—surpassing what it spends on national defense and Medicare.