Before the sixteenth amendment, which was ratified in 1913, the United States did not have a permanent income tax imposed on citizens.
US President Donald Trump’s plan to replace income taxes with tariffs can provide at least $ 134,809 over their life, according to research from the accounting automation company dance numbers.
According to the company, cost savings can extend up to 325,561 dollars per person if other wage -based income taxes are removed.
The company added that the residents of New Jersey, New York, Contecticut, Illinois and Massachusetts will benefit more than tax exemption. As Punit Jindal, founder of dance numbers, said to Cointelegraph:
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