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The GOP's anti-tax guru says tariffs are 'not as good as an income tax'

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Arthur Laffer supports many pillars of Trumponomics but he says expectations that tariffs will raise revenue are overblown.
The article from Fortune, published on June 4, 2025, discusses the views of the GOP's anti-tax guru, who argues that tariffs are not as effective as an income tax for generating revenue. The expert critiques the reliance on tariffs, pointing out that they can lead to increased costs for consumers and potentially trigger trade wars, which could harm the economy. Instead, the guru advocates for a more streamlined and efficient income tax system, suggesting that it would provide a more stable and predictable source of revenue for the government. The article also touches on the political implications of this stance, noting that it contrasts with some current GOP policies that favor tariffs as a means to protect domestic industries.

Read the Full Fortune Article at:
[ https://fortune.com/2025/06/04/the-gops-anti-tax-guru-says-tariffs-are-not-as-good-as-an-income-tax-for-revenue/ ]