Trump’s Bold Plan: Could Bitcoin Be the Key to Abolishing Federal Income Tax and Saving America’s Treasury

According to a ChainCatcher message, as reported by Cointelegraph, former U.S. President Trump said on the latest Joe Rogan podcast that he is serious about abolishing the federal income tax and making tariffs on imported goods a major source of revenue for the government if he returns to the White House in 2024. He said he would consider it. Trump cited the success of the tariff policy under President McKinley in the 1890s, noting that the government had so much revenue at the time that it had to establish a special Blue Ribbon Commission to study how to use the funds.

Trump previously hinted in a Fox News interview that America’s $35 trillion Treasury debt problem could be solved by “giving some Bitcoin to creditors.” Asset manager Brian Corchesne said it would be difficult but not impossible for the U.S. to build a strategic Bitcoin reserve, transferring the roughly 200,000 Bitcoins seized by the Justice Department to the Treasury for reserve assets and continuing to support the digital currency. It has been revealed that you can build a Bitcoin strategic reserve by accumulating it. However, this process may face complex administrative procedures.

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