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 ...
So what? And it also creates a HUGE incentive for companies to locate here in America. Another fantastic Trump idea.
I hope and pray he has the best security team money can buy because THIS right there will solidify the decision of the deep state piglets to try and take him out.
There’s no way they can let this idea ever take hold.
“as a political issue I’m seeing a winner” - Tarrifs - I’m not seeing a winner - at this time. There are other changes that would have to take place first before tarrifs could be the main federal revenue; like the budget reduced a whole lot, the deficit reduced, the debt reduced, the scope and size of the fedral government reduced; just for instance.
A Congress willing to repeal income tax or modify it into nullity would probably have no problem taking on those other goals. Javier Milei has been enacting reforms like these in Argentina with some success so far. We shouldn’t be timid if given similar opportunities.
What about small Schedule C businesses? “Income determination” can be an incredible headache, because “expenses” as it now stands are complex beyond belief..
"Trump floats eliminating U.S. income tax and replacing it with tariffs on imports"
Regarding Trump's suggestion for tariffs, Thomas Jefferson had noted that in the early days of the country the rich alone paid taxes (tariffs) to run the federal government.
“The rich alone use imported articles, and on these alone the whole taxes of the General Government are levied [emphasis added]. … Our revenues liberated by the discharge of the public debt, and its surplus applied to canals, roads, schools, etc., the farmer will see his government supported, his children educated, and the face of his country made a paradise by the contributions of the rich alone, without his being called on to spend a cent from his earnings.” —Thomas Jefferson to Thaddeus Kosciusko, 1811.
Also note that if patriots get hopeful Trump 47 up to speed with unconstitutional federal taxing and spending fostered by federal government abuse of its 16th Amendment powers (16A; direct taxes), then we might get rid of the income tax sooner than later.
"16th Amendment : The Congress shall have power to lay and collect taxes on incomes, from whatever source derived [emphasis added], without apportionment among the several States, and without regard to any census or enumeration."
"Congress is not empowered to tax for those purposes which are within the exclusive province of the States." —Justice John Marshall, Gibbons v. Ogden, 1824.
“If the tax be not proposed for the common defence, or general welfare, but for other objects, wholly extraneous, (as for instance, for propagating Mahometanism among the Turks, or giving aids and subsidies to a foreign nation, to build palaces for its kings, or erect monuments to its heroes,) it would be wholly indefensible upon constitutional principles [emphases added].” — Justice Joseph Story, Commentaries on the Constitution 2 (1833).
The congressional record shows that Rep. John Bingham, a constitutional lawmaker, had clarified the federal government's constitutionally limited powers as follows.
”Simply this, that the care of the property, the liberty, and the life of the citizen, under the solemn sanction of an oath imposed by your Constitution, is in the States and not in the federal government [emphases added]. I have sought to effect no change in that respect in the Constitution of the country.” —John Bingham, Congressional. Globe. 1866, page 1292 (see top half of third column)
Pelosi: "We have to pass the bill so that you can find out what is in it." (non-FR; 6 sec.)
Democrats [and RINOs] Are Terrified Of An Educated And Informed Public (3.12.23)
Democratic and Republican Trump supporters must elect a new Constitution-respecting Congress in November, not only so that he won't be a lame duck president from the first day of his second term, but will support him to quickly finish draining the swamp.
Trump and the new Congress also need to lead the states to put a stop to federal government abuse of its 16A powers by effectively "seceding" ALL the states from the unconstitutionally big federal government by repealing that amendment.
The 17th Amendment (17A; popular voting for federal senators) needs to disappear too.
Consider the repealing of 16&17A as part of reparations for victim taxpayers of the corrupt federal government for having to pay a lifetime of unconstitutional federal taxes, taxes that Congress cannot reasonably justify under its constitutional Article I, Section 8-limited powers and a few other constitutionally enumerated expenses.
I’m more bullish - this plan may net Trump all 57 states.
Yup, the good old days before the IRS came along.
Let’s see. Add tariffs prices go up. Eliminate income taxes people will have more to spend. Increase sin taxes, Bingo!
Don’t forget to gut the government.
No taxes on tips? He’s after my heart but funny. Wasn’t it Reagan who taxed tips?
“The original plan.”
No, it wasn’t a “plan”, it was the written intent of the Constitution. Worked pretty good too for 124 years or so. Then the 16th Amendment came along in 1913.
Seems like a good solution, and double the tariff on China and India; maybe add 200% on H1B.
Not surprising as the big boys and other nefarious folk are prolly parking their scratch in those places.
He’s punking democrats hard and setting their hair on fire with this kind of talk. Democrats love taxes probably as much as they worship abortion.
Would take a constitutional amendment. Not likely, but would be great if it could be done.
How friggin’ dumb.
$3.5 trillion in imports annually.
The annual budget is $6.3 trillion.
You’ve obviously put some thought into this.
RE: the 17th. I would love to go back to the original plan of Senators representing the interests of the State governments in Congress. I think it would be political poison now... it would be seen as ‘undermining democracy’ and ‘disenfranchisement.’ ... you just know ‘racist’ will be added to the adjectives.
I support the original design but can see no way to it...
Thanks to the influence of Teddy Roosevelt, everybody's favorite president who was not a good guy nor was his relative 20 years later. Both loved government.
Rescind income taxes on 401k withdrawals!
see #18
Quit punishing the productive citizens!
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