Winning!
Oh.
Never mind.
That will benefit people still working, but will decimate people retired on fixed incomes.
Why stop there?
All of the progressive era amendments should be repealed.
16th, 17th, (18th already was repealed by the 1st), and the 19th.
Wouldn’t fix everything, but our problems would all be much more manageable.
I would prefer the Fair Tax so that people would see how much the government really takes from you. Import tax is a hidden tax.
I think this would have to proceed gradually. We don’t want to precipitate tariff wars and an international depression. I also think President Trump is aware that it must proceed gradually.
Changing government policy can be very disruptive, that is to say, destructive. People, companies, and organizations need time to adapt.
All taxes affect behavior. For example, we once taxed windows. The bigger the house, the more windows, the larger the tax. Then people boarded up windows. If you tax something too much, it disappears. If all your taxes come from tariffs, people will stop buying foreign goods and services. Then you won’t have any government revenue. Oops.
On the other hand, if you tax broadly, at a low rate, behavior does not change as much.
Adam Smith proposed a multi-pronged approach with moderation. Let’s start with the moderation. The US government should spend less. Musk showed the way with Twitter where he reduced the workforce by 90%. We can at least reduce Federal spending by 50%. Departments that threaten liberty should be eliminated or cut 90%. With less need for tax revenue, taxes can be lower.
We should have a highly simplified income tax for starters. A “Fair Tax” (general sales tax with ample refund) might be a good idea.
A modest tariff would be good for revenue, domestic production, and national security.
Remember, international trade is just that - a trade. If we stop buying from others, others will stop buying from us. Also tariff revenue will be zero.
Main reason was: were an intrinsically limited source of revenue.
Politicians wanted more of YOUR MONEY!
Passed by Congress on July 2, 1909, and ratified February 3, 1913, the 16th amendment established Congress’s right to impose a Federal income tax.
Sixteenth Amendment to the United States Constitution
https://en.wikipedia.org/wiki/Sixteenth_Amendment_to_the_United_States_Constitution
From well before 1894, Democrats, Progressives, Populists and other left-oriented parties argued that tariffs disproportionately affected the poor, interfered with prices, were unpredictable, and were an intrinsically limited source of revenue.
They have to.
The end of the Petro-Dollar is the end of the
unlimited line of credit that has taken the USA to where we are today.
The DC Borg will go down kicking and screaming over this
All the lying dem ads.. This would clear up who cares and who uses.. Who is for you and who doesnt give a flip.
Tariffs on imported food ?
Just a thought. If we also had a national sales tax (hear me out) then large purchases with drug money, etc would be taxed.
Most states already collect sales tax at cash registers so it could easily be added to the software. Just exempt grocery store purchases and children’s clothing, etc.
Everyone would immediately see what the Fed Gov was costing them.
The EU has what they call a VAT. The IRS has got to go.