Back to Greatness: Trump Plans to Fund America Through Tariffs, Not Taxes
Trump's Trade Policies Produces Record Tariff Revenues. Plans to Eliminate Income Tax.
Apr 28, 2025
The U.S. government is seeing record tariff revenues following the implementation of President Trump’s trade policies.
According to the April 24 Daily Treasury Statement, revenues from “customs and certain excise taxes” reached an all-time high of $15.9 billion in April—an increase of 105% compared to the same period last year.
Peter Navarro, President Trump’s senior trade adviser, has projected that tariffs could generate approximately $600 billion annually, or around $6 trillion over a decade.
“The message is that tariffs are tax cuts, tariffs are jobs, tariffs are national security. Tariffs are great for America. They will make America great again,” Navarro said during a March 31 interview on Fox News Sunday.
A BOLD PREDICTION.
Speaking to reporters before boarding Air Force One on April 27, President Trump offered a bold and optimistic vision: that tariff revenues could one day replace the federal income tax entirely.
While some have been quick to dismiss the idea, they may be underestimating President Trump’s relentless drive to achieve his goals.
In fiscal year 2024, the federal government collected approximately $2.4 trillion from individual income taxes. Although there is still a significant gap between current tariff revenues and total income tax collections, there is reason for optimism. Under President Trump’s leadership—and with the Department of Government Efficiency (DOGE) aggressively cutting waste, fraud, and abuse—the overall cost of government is expected to decline substantially.
If tariff revenues continue to rise as expected and government spending continues to fall, President Trump’s vision of a government funded by trade rather than by taxing its own citizens may soon become a reality.
“We’re going to make a lot of money, and we’re going to cut taxes for the people of this country,” Trump said. “It’ll take a little while before we do that, but we’re going to be cutting taxes, and it’s possible we’ll do a complete tax cut, because I think the tariffs will be enough to cut all of the income tax.”
Prior to 1913, America thrived with tariffs funding nearly 90% of the federal government’s operations. It wasn’t until the creation of the income tax that the government shifted its primary revenue source from trade to taxing its own citizens. President Trump’s vision to Make America Great Again draws from this proven model—restoring prosperity through international trade and lifting the heavy burden of taxation off the backs of hardworking Americans.
Just a homeschool mom hoping to make a positive difference in the world.
First order of business, cut waste and fraud. Second, do only what the federal government can do legally under the constitution. Third, streamline and modernize government getting rid of programs that are not needed.
And fourth, term limit Congress. That one is on us.