Posted on 02/20/2025 12:48:01 PM PST by E. Pluribus Unum
National Economic Council Director Kevin Hassett: "Absolutely."
(Excerpt) Read more at x.com ...
Isnt that the way it used to be
we’re learning over 50% of our money spent was on fraud.
Looks like Trump is going to prove a large percent of the national debt is also fraud, so the real amount we have to pay off is likely to be much smaller.
Seems very possible.
will certainly be easier to do when we are not wasting trillions on gay crap, fraud, or the man made global warming scam.
Yep, time to cut our taxes by 50%
Not as long as the 16th Amendment hasn’t been repealed.
Just a different form of taxation amounting to a consumption tax. There are other better solutions. The most obvious, a flat tax, is assiduously avoided for some reason. I would not be happy to pay it but I would rather do that with a flat tax and cost of living deduction related to income and state and local taxes than the mountain of crap I have to go through to file and pay my taxes. It is still a miserable process even now that I am retired.
The tax code is designed to punish enemies and favor friends.
1) Real the 16th Amendment
2) Place emphasis on tariffs
3) If tariffs turn out to be insufficient, implement the FAIR tax
Personally, I think President Trump should come out and tell the American taxpayer that because the federal government had criminally abused their tax dollars for decades, no federal taxes will be taken away from them for the entirety of his presidency.
Of course, Democrat run states will then say that because there’s no federal taxes taken out of worker’s paychecks, they can go ahead and raise their state taxes.
And then he can fire the ENTIRE IRS agency and save even more $$$!
When the government didn't have a massive regulatory apparatus ... and a massive welfare program ... and a massive ponzi scheme masquerading as an old age retirement program.
And I cannot wait to watch the Left PROTEST shutting down the IRS! lol lol lol
trump is leading the democrats into a box canyon, supporting a federal income tax over tariffs and with it, supporting the irs.
I’m not sure I can agree with the idea of relying ONLY on taxing foreign imports to run Govco. Seems like that could be difficult to predict and control.
I’m all for slashing Govco spending. Govco spent almost $7 trillion in fiscal 2024. Let’s say we can get it to $4 trillion. That’s slashing spending by 43%.
The US imported a little over $4 trillion in 2024.
Govco collected almost $5 trillion in income tax in 2024.
So even if we cut spending by 43%, to eliminate income taxes, we would need to impose about a 100% tariff on imports.
And if we slap a 100% tariff on imports, people will buy less of them, a LOT less, and there goes your revenue base.
I’m all for the idea of these goals, but suffice it to say it would very difficult and unlikely to balance the Govco budget AND eliminate income taxes at the same time.
If it hasn’t been repealed, how long will it be before Congress changes back?
IMO the tariff is the best tax ( all the founding fathers would agree ). It is a consumption tax that promotes DOMESTIC industry. It is a win - win.
So the extra money left in people's pockets from the abolition of taxes won't be spent? They'll just keep it in their pockets and not purchase things they need?
Um, you are forgetting FICA pays for medicare and social security. So the taxes would be a combination of a tariff, FICA and a much smaller income tax ( flat tax? ).
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