Former President Trump recently discussed his plans to eliminate the federal income tax in the US and replace it with tariffs on imports during an episode of the Joe Rogan Experience. He drew inspiration from former President William McKinley's tariff policies in the 1890s, emphasizing their success in generating revenue for the government. Despite critics' concerns about increased prices on goods due to tariffs, Trump believes they can boost dollar demand, protect domestic workers, and enhance US exports. Additionally, Trump suggested using Bitcoin to erase the $35 trillion national debt, proposing the establishment of a Bitcoin strategic reserve for the US government. Asset manager Bryan Courchesne supported this idea but highlighted bureaucratic challenges. Trump's proposal aligns with former independent Presidential candidate Robert F. Kennedy Jr.'s similar suggestion earlier in 2024. Bitcoin enthusiasts have shown support for Trump's unconventional financial strategies, although some view it as a risky move. Read more AI-generated news on: https://app.chaingpt.org/news

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