New Delhi, Nov. 28 -- President Trump suggested that the income tax might be nearly eliminated as a result of revenue from tariffs.

"Over the next couple of years, I think we'll substantially be cutting and maybe cutting out completely, but we'll be cutting income tax. Could be almost completely cutting it because the money we're taking in is going to be so large," Reuters quoted Trump's remarks to US military service members on Thursday.

The US President's statement came days after he proposed a tariff dividend to Americans. Earlier this month, he called out people who criticised tariffs and pledged a dividend of at least $2,000 per person, excluding high-income individuals.

In a post on Truth Social, President Trump wrote, "People th...