President Trump Claims Tariffs Can "Substantially Replace" the Income Tax -- but Is He Right? The Data Doesn't Lie.

On Feb. 24, President Donald Trump delivered his highly anticipated State of the Union address to a joint session of Congress. His speech outlined accomplishments and milestones reached since taking office -- e.g., the Dow Jones Industrial Average (DJINDICES: ^DJI), S&P 500 (SNPINDEX: ^GSPC), and Nasdaq Composite (NASDAQINDEX: ^IXIC) have all hit several record-closing highs -- as well as laid out select policy proposals for the upcoming year. Of note, Trump championed tariffs as "one of the primary reas ...