“Then in 1913, for reasons unknown to mankind, they established the income tax so that citizens, rather than foreign countries, would start paying the money necessary to run our government. Then in 1929, it all came to a very abrupt end with the Great Depression, and it would have never happened if they had stayed with the tariff policy, it would have been a much different story.” (Donald Trump, yesterday)
"This is nonsense history. The income tax was intended to shift the burden to wealthier Americans as the cost of tariffs fall mainly on lower-income people. Tax revenue was also considered a more stable source of funds. One big advocate for an income tax was Theodore Roosevelt, a Republican. As for the Great Depression, many historians credit the Smoot-Hawley Tariff Act, signed into law in 1930, as worsening the economic slowdown because it sparked a global trade war."
"This is nonsense history. The income tax was intended to shift the burden to wealthier Americans as the cost of tariffs fall mainly on lower-income people. Tax revenue was also considered a more stable source of funds. One big advocate for an income tax was Theodore Roosevelt, a Republican. As for the Great Depression, many historians credit the Smoot-Hawley Tariff Act, signed into law in 1930, as worsening the economic slowdown because it sparked a global trade war."