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Why Trump Threatens 100% Tariff on Dollar Ditchers
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Subscribe13 SEP 2024 / ECONOMY
During the first 2024 election debate, Donald Trump and Kamala Harris presented contrasting tax proposals; Trump plans to remove federal tax on overtime pay and reduce the corporate tax rate while Harris proposed eliminating federal tax on tips, introducing a startup deduction, and increasing the child tax credit. Separately, Trump suggested a 100% tariff on countries abandoning the US dollar, aiming to protect its global supremacy against currencies like China's renminbi and Russia's ruble, which may influence US economic influence and his standing in the upcoming presidential race.
In their first debate, Trump and Kamala Harris went head-to-head on tax policies, unveiling bold proposals that set the stage for a showdown in the 2024 election. Trump vowed to eliminate federal taxes on overtime pay and slash the corporate tax rate, a m...
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