Ding! Ding! Ding!
We have a thread winnah!
Bill Clinton and Obama both engaged in such egregious conduct. Ask the Tea Party.
Posted on 06/13/2024 5:39:20 PM PDT by shadowlands1960
Key Points
-Donald Trump discussed the idea of imposing an “all tariff policy” that would ultimately enable the U.S. to get rid of the income tax, sources told CNBC.
-He also talked about using tariffs to leverage negotiating power over bad actors, according to another source in the room.
- Trump championed tariffs during his first term in the White House.
Donald Trump on Thursday brought up the idea of imposing an “all tariff policy” that would ultimately enable the U.S. to get rid of the income tax, sources in a private meeting with the Republican presidential candidate told CNBC.
Trump, in the meeting with GOP lawmakers at the Capitol Hill Club in Washington, D.C., also talked about using tariffs to leverage negotiating power over bad actors, according to another source in the room.
The remarks show Trump, who championed tariffs as a foreign policy multi-tool during his first term in office, is considering a drastically more protectionist trade agenda if he defeats President Joe Biden in November.
(Excerpt) Read more at cnbc.com ...
It’s not going to work. The government already owes too much money. Corporations aren’t going to like the tariffs. Stuff would be more expensive for consumers. The rest of the world would turn against us and slap tariffs on our exports. Somebody should explain all that to Trump.
The American oligarchs will kill him.
Wealthy either via tourism (Nevada) or massive oil deposits (Alaska...)
“Goodbye IRS!”
Hire 87,000 forensic accountants instead to go through the budget and find out where the bleeding is.
:NeverTrumpin':
This won’t happen easily because crafting exceptions to the tax code is a source of Congressional power. Congresscritters raise money from lobbyinsts by tweaking the tax code to favor certain actors. End the modern tax code, and Congress needs to find another lever to fund raise. It could work to abolish individual taxes, but corporations, LLCs etc would still need to be taxed somehow for the present system to work.
Up to the Civil War, the tariff was the principal source of revenue for the federal government. It raised enough money to not only pay for the operation of the federal government but also to reduce the national debt to zero.
The largest buildings in any major port city on the east coast was the US Customs House. The New York City custom commissioner was one of the most powerful people in the USA.
Theodore Roosevelt’s father was an NYC customs commission as was Chester Arthur who later became President.
People often wonder why the tax code is so complicated when doesn’t really need to be. The reason you stated is the correct one, it’s a source of campaign cash & personal wealth for the tax writers.
It's an interesting take on the problem. In order to maintain currency stability with the US $, which is necessary to maintain its trade surplus and export-based economy, China buys US debt. The overspending congresscritters figured this one out in the 1990s (Tiananmen Square was in 1989, China was still given most-favored-nation status; gee, I wonder why) but not until the administration did, and not until after Greenspan and Gingrich got a (short-lived) balanced budget of the a-holes.
Yes. It used to be this way.
Not sure why you want to replace one form of government theft with another. The “Fair Tax” sucks ass.
Long overdue. But this is probably just a ruse for votes, as the President alone obviously doesn’t control that. He’d have to make it a Republican Party platform plank and get most of Congress on board, who are controlled by lobbyists who love international trade.
We have a thread winnah!
Bill Clinton and Obama both engaged in such egregious conduct. Ask the Tea Party.
The power to tax is the power to destroy.
THe way it was supposed to be form the start.
The founders got it right the first time.
This is they way it was before 1913.
I go back and forth as which is worse: the 16th or the 17th amendments? 16th and 17th are the twin pillars of codified evil.
Fixed.
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