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 ...
This is what they do in the Cayman Islands... No taxes but 25% tariff on just about everything ... so it’s really expensive!
Eliminating the income tax coupled with a systematic program to reduce the size of government would sound like utopia.
Really not interested in having those companies that fled in the first place back on our soil. Americans were betrayed by these SOB’s when they fled US chasing the almighty dollar. They forgot who helped build them to begin with. Of course, excessive regs didn’t help but apparently that was all part of the plan. Damn shame that most consumer items come from communist china. I see potential invest in America coming as in small business, the backbone of this country.
Are you dead?
“ Can you imagine the reactions of people on fixed incomes, that pay almost nothing in taxes, when the prices of most things double?”
Well, the prices of a lot of basic necessities HAVE doubled in the past 4 1/2 years, and a lot of those people on fixed incomes still want to vote for the pants-pooper that did it.
Just pardon everyone in the country for the next 4 years or until it is repealed.
Think in terms of steel, or beef, and many other things like that. We wouldn’t be bringing in steel from China and beef from Brazil.
Lot’s of things should be done here.
Think in terms of steel, or beef, and many other things like that. We wouldn’t be bringing in steel from China and beef from Brazil.
Lot’s of things should be done here.
If you put both ‘drill baby drill’ and this proposal together, they may somewhat have the effect of canceling each other out, re: inflation.
I read an idea a few years about eliminating long term capital gains tax. At the time, 1990s I think, it was estimated there would almost immediately be 1 trillion dollars invested in companies for research, expansion.
The imposition of high tariffs on imported goods from China, Mexico, and elsewhere will stimulate the rebirth of American industry. However, this move must be accompanied by a decrease in Federal interference through environmental laws and other barriers. States like New York, California, and Illinois will keep up their existing laws and fill in the gap where the Feds withdraw. However, low regulation, low tax states like Texas, Florida, and Tennessee will benefit from a renaissance of manufacturing.
Our Constitution originally stated just that- no income tax, imports only taxed. Read up on our original Constitution.
Take a look at the "Fair Tax". It does essentially what you are asking for, and it's all handled at the cash register. No forms at all to file (not even a flat tax post card!)
It even includes a built-in "pre-bate" that serves as a kind of "Universal Basic Income", which should be a it with voters of all types! According to their math, the sales tax will be 23%. But, because its only paid by the end consumer, it balances-out the previous taxes currently embedded in the whole rotten system. And did I mention that there's no paperwork? ;-)
https://fairtax.org/active-legislation/h-r-25-the-fairtax-act-of-2023
There is no more stupid tax than capital gains. It’s deliberately disincentivizing success.
This is brilliant leadership by Trump.
.......... HOW DARE HE!!!! We all know the Crown is who determines the tax of we ...... The Little People ......
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It will be hilarious when the democrats try to say “that’s not what the founding fathers wanted.”
Winning, Winning, Winning!
If nothing else- drastically decrease tax rates and SEVERELY cut spending.
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