Professional athletes across the U.S. are well known for facing steep federal income tax bills, with their lucrative contracts pushing them into higher tax brackets and requiring them to pay a larger percentage of their earnings in taxes than most Americans. However, a new tax plan introduced by recently elected President Donald Trump could significantly ease that financial burden for these high-paid athletes.
Speaking at a House Republican Members Conference on Monday, Trump laid out his proposal to eliminate income taxes nationwide, replacing them with an import tariff system to fund the government.
Trump characterized the tariff-based system as a “system that made us richer,” citing the years between 1870 and 1913 as the most prosperous in U.S. history under such a model.
“It’s time for the United States to return to the system that made us richer and more powerful than ever before… Instead of taxing our citizens to enrich foreign nations, we should be taxing foreign nations to enrich our citizens,” Trump stated in his speech, outlining his vision for tax reform.
This proposal formally introduces the plan Trump first hinted at during his inauguration address.
“Instead of taxing our citizens to enrich other countries, we will tariff and tax foreign countries to enrich our citizens. For this purpose, we are establishing the External Revenue Service to collect all tariffs, duties, and revenues. It will be massive amounts of money pouring into our treasury coming from foreign sources,” Trump declared in his inaugural address earlier this month.
While it remains uncertain how Trump intends to implement such a sweeping overhaul—or whether it will gain approval from other branches of government—what is clear is his determination to follow through on his campaign promise to eliminate income taxes.
Unsurprisingly, this major policy shift sparked a lot of reactions on social media with many people expressing outrage at the plan.
“The last time we decided that no income tax and tariffs were the way for the government to make money, you ask? At the beginning of the Great Depression (which was a major factor in making it worse). These aren’t new ideas, this is America not learning from its past mistakes,” one person wrote on X.
“History class is so important. I remember learning in school that this failed BIG TIME. It hurt the working class, made basic necessities unaffordable, caused retaliation tariffs from other countries… I mean, the list goes on. What happened shortly after? The Great Depression,” another user added.
“That doesn’t make sense,” someone else remarked simply.
“He is trying to bankrupt our country,” another person commented.
“We live in the dumbest country in the world,” someone else wrote.
“The federal government spends ~$6 trillion annually right now. Total American imports last year were $3.8 trillion. Go ahead, find a tariff rate that works. Good luck,” another person pointed out.
“So clearly helping the billionaires to not pay their fair share,” someone else said.
“Seriously, who believes any of this nonsense?” another person added.
If implemented, this shift would represent a drastic transformation, carrying profound consequences not just for high-earning professional athletes but for all Americans.
