00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Former President Donald Trump reaffirmed his plan to eliminate income taxes and replace them
00:06with a universal tariff on imports in a Friday interview with podcast host Joe Rogan.
00:12This policy is part of Trump's proposed tax overhaul, which includes ending taxes on tips,
00:17overtime, and Social Security benefits, and extending his 2017 tax cuts.
00:22Trump's tariffs would apply a 20% rate across imports,
00:25especially targeting Chinese goods, in an attempt to offset revenue losses.
00:29The Tax Foundation predicts Trump's tariff plan would generate far less revenue than income taxes,
00:34potentially raising consumer costs and increasing the deficit.
00:38For all things money, visit Benzinga.com slash GSTV.
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