Maybe it would be a good idea to limit government spending to government revenue!
Whatever exists now ain’t penciling out either given the trillion dollar deficits.
“Trump’s Tariff Trap. Replacing income taxes with tariffs doesn’t pencil out.”
I agree, but if it gets him votes, then what’s the difference?
(hint: The answer is nothing - that’s how the Democrats play, and if the Republicans had a brain, that’s how they would play also)
Yeah was never going to happen either way.
The whole article is a lie. America went from a fringe settlement on the edge of a continental wilderness to a world manufacturing power thanks to tariffs. Tariffs can be used to onshore manufacturing, strengthen America, and enrich the citizens at the expense of our execrable Marxist overlords.
They want to be able to literally put their hands in our pockets. Tariffs won’t do that.
“Penciling Out” has not worked out in the slightest measure in case you didn’t notice?
Our wealth and national security depend on not just getting our manufacturing and resources out of China, but back home again. That is the big opportunity and imperative in shifting taxes from federal income to tariffs.
No we don’t need to put 150% tariff we need to slash the budget down to the core. Look what Milei is doing in Argentina. He’s cutting out all redundant agencies, slashing the government (I think half of all federal agencies were abolished), slashing the budget and the economy is starting to stabilize (inflation is coming down, bonds are going up in price meaning more confidence in the country by investors). He’s only been President a few months. We could get rid of agencies that are duplicative - For example states that have their own EPA can be left to enforce their own, and the federal EPA can close those offices.
The other side of this coin is that if tariffs will be driving up the cost of imports, which will spur economic investment in domestic production because it will be more competitive to make it here.
Of course, once that happens, funding the government through tariff might be even more complicated. I liked Herman Cain’s 9-9-9 idea. It may not have been perfect but it was simple to understand and everyone could comply and reduce costs of accounting and compliance. Also, everyone would pay, so tax and spend policies would be front and center for everyone in this country be they rich, middle or poor; citizen or not.
cut the government, cut the spending! Rinse, repeat!
This is classic Trump. He floats something huge and mind boggling. It gets people talking and they meet in the middle with something that works.
The author is an economic illiterate.
Since 99% of all congress critters illegally receive foreign “campaign contributions”, they will never go for this.
It will have challenges, much like taxes from cigarettes decreased with less cigarettes. The same with tariffs if we import less. I’m sure our taxing politicians can figure it out. Maybe they start with cutting spending?!
He might have said he would offset lower income taxes with tariffs.
But discussing and doing are wo different things at any rate.
I honestly believe that his main thrust will be eliminating regulations that open up job creation and bring back manufacturing to the U.S. which will in turn reduce imports, so tariffs only would not be sufficient.
Pretty funny, these guys all make the same wrong assumptions. Tariffs last Trump term didn’t raise prices. Just as wrong is thinking that decreases in Gv’t spending are not planned.
The economy needs an overhaul not a bandaid.
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Math is hard for many nowadays due to pubic skrools.
Get rid of the income tax, use tariffs as much as possible, and print the rest. It’s kind of what’s happening right now anyways. /s
Yes, we can!
It takes a village!
We're in this together!