Former president and Republican presidential candidate Donald Trump has recently floated the idea of eliminating the federal income tax. At first glance, this could be seen as a popular plan. I don’t know anyone who enjoys paying income taxes. Nevertheless, sensible people know that we have to pay our bills, as families and as a nation. The federal government annually receives $2.4 trillion dollars from the collection of personal income taxes, about half of the government’s budget. Common sense reminds us that if you cut your income in half, you must increase your money intake in some other way. Trump claims the funding shortfall could be made up with tariffs on imported goods (see below). Government leaders, including prominent Republicans, have repudiated Trump’s plan while others have suggested that Trump was just “kidding”. Trump responded in his recent interview with Joe Rogan on Friday that he was quite serious about his plan.

It is important for us to remember that during Trump’s presidency (2017-2021), the national debt increased by $7.8 trillion dollars, the largest increase in our country’s history! His idea of raising money by 10-20% tariffs on foreign goods is also quite flawed. Foreign companies and countries would not pay a penny to the U.S. government.  The tariffs would be a “sales tax” paid for by U.S. importers who would pass on the higher costs to U.S. consumers! In addition, other countries might retaliate and impose their own tariffs on U.S. products, and thereby hurting companies in our nation.

His plan to implement massive deportation of immigrants is inhumane at a moral level. It is also economical lunacy. Many immigrants work for lower than a minimal wage. If they are deported, labor costs would dramatically increase, especially in the fields of construction, agriculture, and food services. Inflation would skyrocket.

23 winners of the Nobel prize for economics recently wrote a letter to the U.S. public in which they stated, “While each of us has different views on the particulars of various economic policies, we believe that, overall, Harris’ economic agenda will improve our nation’s health, investment, sustainability, resilience, employment opportunities, and fairness and be vastly superior to the counterproductive economic agenda of Donald Trump.”

We must also remember that many of his businesses (like Trump University) have failed. He has declared bankruptcy multiple times. He has also been found guilty of cheating on his payment of state and federal taxes.

Given this massive quantity of evidence, why would anyone of sound mind trust Trump with our nation’s economy? There might be some reasons for voting for Trump (although his lying, womanizing, felonies, racism, bullying, etc., disqualify him according to my conscience), his economic strategy is horrible,