After CNBC reported that presumptive Republican presidential candidate Donald Trump is considering replacing income taxes in the U.S. with additional import tariffs to offset the revenue shortfall, Nobel laureate and economist Paul Krugman shared his views on the matter through a series of posts on X, formerly known as Twitter, on Thursday.
Former President Donald Trump proposed an "all tariff policy" to replace income taxes in a meeting with CEOs and lawmakers, potentially benefiting the wealthy and harming low-income Americans.