By Thomas Kolbe

Tax policy on both sides of the Atlantic could hardly be more different. While Europeans continue to bleed taxpayers dry, US President Donald Trump is scoring points with voters by rolling back the state. Now he’s aiming to phase out the federal income tax entirely.

Trump’s economic punchline is simple: relief for the middle class, deregulation of markets, and a rollback of the bloated federal bureaucracy. By re-focusing on the productive forces of society, he intends to open a new chapter of American prosperity. The controversial tariffs are one of the financing pillars of this ambitious operation. Once the dust settles and initial trade deals are struck, tariffs are expected to level out at a lower rate. Current estimates suggest they could bring in between $100 and $200 billion annually to the federal budget. Trump announced via his Truth Social platform: “When the tariffs kick in, income taxes for many people will be reduced significantly – maybe even eliminated altogether. The focus will be on people making under $200,000 a year.”

For context: Federal income tax receipts account for about 51% of the US government’s $4.1 trillion budget. Tariff revenues alone won’t be enough to fill that gap. Deep spending cuts are essential to make this tax relief real. That task has been handed to the newly formed Department Of Government Efficiency (DOGE). In the first 100........

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