“The joke is maybe over the next two weeks he’ll get all the way there, and he’ll have fully eliminated the income tax with all of his proposals,”
I’m not laughing. I actually have to pay taxes
“The joke is maybe over the next two weeks he’ll get all the way there, and he’ll have fully eliminated the income tax with all of his proposals,”
I’m not laughing. I actually have to pay taxes
I think that’s how it was originally in the US until they added the first excise tax on alcohol, which kicked off the Whiskey Rebellion.
So the tariff-only approach lasted one presidential term I think.
The constitutional way to fund the Federal government... tariffs and excise taxes. But of course, the government Would have to be much smaller... but that’s also the constitutional way.
How about telling Tim Walz to mind his own business. Tell him that how much money people have, how much property they own and where they keep it is a private matter and that is a major reason why the framers banned income taxes.
Ironic how liberals claim that abortionists are above the law, that state=licensed medical doctors have the right to terminate pregnancies of healthy females carrying healthy babies without any shame over their 1913 income tax which took away any claim to a right to privacy.
Bush blew it in 2001. He could have gotten rid of income tax, payroll tax and the corporate income tax—some or all of them. Then he set the table for an Obama presidency by not making a deal on tax increase/spending cuts in 2007, after he lost the House & Senate, then by joining with Pelosi to let Democrats buy the 2008 election with unnecessary and inflationary stimulus checks and corrupt bailouts of Democrat donors, while screwing Main Street with more debt and $4 gas price that he blamed on demand from India and China. Obama then ran up twice as much debt in 8 years as Bush did, then Biden ran up more debt in 4 years than Bush did in 8 years. For once, GOP needs real tax reform from bottom up that is not like Reagan’s and really shrinking the size of government that Reagan never even tried to do
I think Trump just made an off the cuff remark and you will never see it go anywhere. I don’t think eliminating the income tax and replacing it with “tariffs” would raise the income necesary to pay debts and would probably set off an international trade war. This should not be taken seriously.
15 to 17% sales tax to replace all payroll taxes. FICA included.
“ Mr. Trump instead suggested imposing a broad tax on the goods that Americans buy from abroad. In his view, such tariffs could replace income taxes as the main source of federal revenue.”
Sounds good.
2023 featured $3.8T in imports and $2.2T in federal income tax revenue. A 100% tariff should do it.
Tax bills originate in the House. The President can propose…but thats it.
If there is a 4 vote margin…none of this stuff even starts.
Well, Taxation IS Theft and Inflation IS Theft, so whatever President in Exile Trump can do about it, more power to him!
By whatever amount the Federal income tax might be reduced, my state will raise taxes to fill the gap. Sort of like the “Peace Dividend” of yore.
Eliminate the Fed income tax (and 17A with the 16th) and instead, every spending bill is split mostly equally amongst the States. Divide it by 535, and each CongressCritter brings their share to their State, which can raise that amount however they want.
Tarriffs go straight to reducing outstanding debt, and once that’s zeroed off, they reduce the dollars charged to the States using the same split above.
Tariffs are a great idea. People won’t want to pay high prices for foriegn goods and the American entrepenuer will arise again.