Trump’s Flawed Claim that Tariffs Made the U.S. Its ‘Richest’

Those who know me will confirm that I was opposed to income taxes for the last 30 years as a matter of principle. They are complicated to calculate, which feeds an entire caste of professionals dealing with the formalities; the incentive to cheat is massive, needing even more highly paid professionals, and the take for the public coffers is not breathtaking. Consumption taxes are much better, and they are also socially fair as those with less money will consume goods on lower tax brackets and the rich more of the highly taxed luxury goods. When the US lived off tariffs, there was no social safety net to pay for. Tariffs alone won’t cut it. But reform is still necessary, and direct taxation should go away. 

Trump's Flawed Claim that Tariffs Made the U.S. Its 'Richest' - FactCheck.org

In arguing for more tariffs on goods imported to the United States, President Donald Trump has repeatedly claimed that the U.S. was its “richest” or “wealthiest” during the late 1800s and early 1900s because of…

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