President Donald Trump believes that the federal income tax will be abolished in the near future and replaced entirely by tariffs.

Trump made the bold claim about an income tax-free America during Tuesday’s Cabinet meeting, after touting the impact of his trade policies and potential “ dividend” stimulus checks .

“We’re going to be giving back refunds out of the tariffs because we’re taking in literally trillions of dollars,” Trump said .

“Additionally, we’re gonna be able to reduce debt,” the president continued . “And I believe that at some point in the not-too-distant future you won’t even have income tax to pay because the money we’re taking in is so great, it’s so enormous that you’re not going to have income tax to pay.”

Trump has previously speculated about completely elim

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