Professional athletes across the United States notoriously face hefty federal income tax bills that come with their lucrative contracts, paying a higher percentage of their income in taxes than most Americans, especially as they move into higher tax brackets. However, a tax plan recently introduced by newly elected President Donald Trump would likely alleviate that financial burden for these highly paid athletes. During a speech at a House Republican Members Conference, Trump proposed eliminating income taxes nationwide and replacing them with an import tariff system to fund the government. He described this import tariff system as a “system that made us richer,” highlighting the period from 1870 to 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 said in his speech, laying out his vision for tax reform. This proposal formalizes the plan Trump initially mentioned during his inauguration address, stating, “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.”
While it remains unclear how Trump plans to implement this sweeping change or whether it will gain approval from other branches of government, it is evident that he is committed to fulfilling his campaign promise of moving toward the elimination of income taxes. This is significant news that could dramatically change the tax structure in the United States and has sparked numerous reactions on social media.
“The last time we decided that no income tax and tariffs were the way for the government to make money was 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. Another remarked, “History class is so important. I remember learning in school that this failed BIG TIME. It hurt the working class, made basic necessities unaffordable, and caused retaliation tariffs from other countries… I mean, the list goes on. What happened shortly after? The Great Depression.” A different comment simply stated, “That doesn’t make sense.”
Others expressed concerns, with one person saying, “He is trying to bankrupt our country,” and another adding, “We live in the dumbest country in the world.” A third observer pointed out, “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 user said, “So clearly helping the billionaires to not pay their fair share,” while someone else questioned, “Seriously, who believes any of this nonsense?”
This shift would mark a significant transformation, carrying profound implications not only for high-earning professional athletes but for all Americans.
