Trump Wants To Eliminate Income Taxes: 6 American Brands That Could Become More Popular
Written by
Brooke Barley
Edited by
Chris Cluff
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Republican presidential nominee Donald Trump has some ideas regarding income tax that could really shake things up. In order to gut the income tax, his plan is to rely on what he refers to as an “all-tariff policy.” This would eliminate federal taxes and instead impose taxes on imported goods.
Though this would raise the prices of imported items, Trump said the advantage is that consumers would not have to pay an income tax, so they would have more money coming in. This could potentially put more money back in the pockets of Americans and give them more spending power. It also could be great news for certain American brands.
If Trump is successful in winning the presidency and eliminating the income tax, some brands might be looking forward to sizable profits. Here are the brands experts say would benefit from Trump’s policies.
Yeti
“As a growth marketing consultant, I’ve seen consumer brands soar when people have more discretionary income,” said Cameron Gawley, the co-founder and chief growth officer of Arrival.
Gawley added that Yeti, the company known mainly for its trendy water bottles and coolers, could see more sales if Americans don’t have to worry about income taxes.
“Yeti’s premium coolers and tumblers are a splurge; lower taxes mean people will buy more. In short, nonessential but aspirational brands that represent a lifestyle or experience should see a rise in popularity if income taxes decrease,” Gawley predicted.
Yeti coolers start at $200, which is quite high if you know you can find one that’s the same size on Amazon for less than $40. But, because of their popularity with consumers, more Americans might be swayed to join the crowd if they had a little extra money to spend.
Yeti became a publicly traded company in 2018. Since then, the company’s stock has increased 133%. Stock prices could continue to climb if Trump wins the election and more consumers feel they can splurge on these items.
GoPro
If Americans have more cash, they’re likely to take more trips. One accessory that is known for capturing all the action when on a vacation adventure is the GoPro. People who love getting the latest gadgets could splurge on one of these cameras.
“GoPro’s action cameras are exciting tech toys,” Gawley said. “With more cash, customers upgrade to the latest model. There will be more opportunity for people to splurge on brands that spark joy and trip. Brands enabling hobbies, recreation and passion projects will thrive.”
The latest model is the Hero12 Black, which GoPro calls its best action camera ever. The camera boasts HDR (high dynamic range) 5.3K and 4K video, plus improved thermal performance for longer runtimes. Without any accessories, the Hero12 Black will cost you $299. Most other models GoPro offers hover around $250.
In addition to cameras, GoPro offers subscriptions to store and edit your footage. Though it’s not necessary to purchase a subscription to own a camera, it does come with many benefits and one subscription offers a discount off other GoPro items. The GoPro subscription cost starts at $24.99 a year.
Apple
Apple products are popular, but expensive. For example, the average cellphone costs $823 in the U.S. The latest iPhone 15 Pro costs around $1,000. Similarly, you can find a new laptop for under $500, but new Apple laptops start at around $1,000.
However, if consumers don’t have to fork over cash for income taxes, they might be tempted to spend more money on newer cellphones. “With more disposable income, consumers might invest in high-end tech products and upgrades,” Myles McLean, the founder and CEO of Grillhound, said.
Peloton
Since the pandemic, Peloton has been financially struggling. When people were stuck at home and couldn’t get to the gym, Peloton was thriving. They did $2 billion in sales in 2022. Things turned for the worse for the company when people could go back to the gym. Customers returned their Peloton equipment and subscriptions to the app declined.
Gawley said that more disposable income means Peloton could see a resurgence. If people canceled or returned their equipment because it was too expensive, that would no longer be an issue. “Peloton’s connected fitness equipment is pricey, but engaging. Additional income lets people invest in an immersive at-home workout,” Gawley noted.
Tesla
According to Kelley Blue Book, the average price of an electric vehicle is around $56,000. Tesla’s cheapest model — the Model 3 — starts at an approachable $38,000. Tesla’s Model X, the most expensive model in the fleet, starts at $99,990. Going electric is still expensive compared to more affordable gas-powered vehicles, but those who haven’t taken the EV plunge yet may be convinced if they’re saving money on taxes.
McLean said that the lack of an income tax could lead to more Americans investing in pricier cars, specifically those Tesla makes. “Increased spending power could lead to more people affording electric vehicles and sustainable technology,” he remarked.
Amazon
With one-click-buy buttons and Amazon browser plugins, it’s already effortless to buy items on Amazon. McLean said Amazon could see even more sales if there is no income tax. “More disposable income might drive higher spending on various goods and services available on Amazon.”
It’s reported that 25% of Americans use Amazon to purchase items one or two times a week — and incredible number. Moreover, the average American spends $38 a month on Amazon. That number is higher for Prime members — those with a membership spend $110 a month on average. These numbers might increase with more disposable income.
Amazon hasn’t been hurting for sales in quite some time. Over the past five years, Amazon has seen its stock go up 79%. During 2021, thanks to a huge sales boost during the pandemic, Amazon saw its stock price go as high as $3,515.29 a share. These days, the stock trades closer to $160 a share. However, who knows how high it might get in the future or during a potential Trump second term.
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