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Trump's National Economic Council Director on replacing the income tax with tariff revenue
Posted on 2/21/25 at 10:02 am
Posted on 2/21/25 at 10:02 am
8
Posted on 2/21/25 at 10:03 am to stout
He's going to get democrats to vehemently defend the federal income tax isn't he? 
Posted on 2/21/25 at 10:04 am to Gifman
They already are
Posted on 2/21/25 at 10:10 am to stout
I'm assuming this is just the actual income tax and not FICA.
Posted on 2/21/25 at 10:12 am to Gifman
quote:
He's going to get democrats to vehemently defend the federal income tax isn't he?
It will be the official end of the Democrat party. I cant wait!
Also, InB4 SFP tells us its unconstitutional
Posted on 2/21/25 at 10:13 am to stout
I watched that presser yesterday live and he was on it! Took no Biden prisoners either. Every third sentence was a knock @ Biden and his people.
Posted on 2/21/25 at 10:14 am to stout
Dems will oppose Trump no matter what. So will most of the RINOs in the Senate.
Consumption tax is still superior to tariffs. A tariff places a measure of control with a foreign nation. If they trade with others and not with you, you're now getting zero in tariffs.
Consumption tax is still superior to tariffs. A tariff places a measure of control with a foreign nation. If they trade with others and not with you, you're now getting zero in tariffs.
Posted on 2/21/25 at 10:18 am to stout
Trump has already achieved legend status,
but if he manages to abolish the income tax he will become a living god.
but if he manages to abolish the income tax he will become a living god.
Posted on 2/21/25 at 10:18 am to POTUS2024
quote:
Consumption tax is still superior to tariffs.
frickin aye
Posted on 2/21/25 at 10:21 am to Gifman
quote:
He's going to get democrats to vehemently defend the federal income tax isn't he?
Have the resident Libs started the defense on here? This is the way.
If he can pull it off the economy would boom. There’s no way he can lose IF then can continue to cut budget and just offset some of it with Tariffs and spend tax methods
Posted on 2/21/25 at 10:25 am to POTUS2024
This has to be part of the answer. Simply define “luxury” and put use tax on it. Put a low level on non essentials etc and none on food and diapers (etc). This way you capture all the illegal money too (drug deals, money from selling stolen goods etc)
Posted on 2/21/25 at 10:35 am to POTUS2024
Is it enough?
Currently, the US government collects an average of 3.3% of duties and tariffs (a total of less than 200 Billion USD) on goods imported to the US. Importers pay an average of 20% for goods originating from China, which will be around 30%; and 15% from Canada and Mexico.
By comparison, the average rate of tariff and duties in some main trading partners:
Canada: 3.8%
Mexico: 6.8%
China: 7.5%
Vietnam: 9.4%
Germany: 5%
Taiwan: 6.5%
South Korea: 13.4%
India: 17%
UK: 3.8%
Australia: 2.4%
Hong Kong: 0%
UAE: 4.7%
Currently, the US government collects an average of 3.3% of duties and tariffs (a total of less than 200 Billion USD) on goods imported to the US. Importers pay an average of 20% for goods originating from China, which will be around 30%; and 15% from Canada and Mexico.
By comparison, the average rate of tariff and duties in some main trading partners:
Canada: 3.8%
Mexico: 6.8%
China: 7.5%
Vietnam: 9.4%
Germany: 5%
Taiwan: 6.5%
South Korea: 13.4%
India: 17%
UK: 3.8%
Australia: 2.4%
Hong Kong: 0%
UAE: 4.7%
Posted on 2/21/25 at 10:46 am to stout
So it that happens, I just have to pay State income?
Posted on 2/21/25 at 10:49 am to Gifman
all the libtards should still have to pay it though
Posted on 2/21/25 at 10:54 am to stout
From just that soundbite, it sounds as if he is talking about offsetting the tax cuts with tariff revenue, not eliminating the income tax.
I am all for getting rid of it or cutting it to a very low number for all, but I haven't seen numbers that support that yet.
I am all for getting rid of it or cutting it to a very low number for all, but I haven't seen numbers that support that yet.
This post was edited on 2/21/25 at 5:05 pm
Posted on 2/21/25 at 10:55 am to Gifman
quote:
He's going to get democrats to vehemently defend the federal income tax isn't he?
Well, so far he has gotten them to defend all the bad shite they are doing to American taxpayers so I'd assume so.
Posted on 2/21/25 at 10:56 am to Basinhunterfisher
Trump will often makes an outrageous statement to engage the opposition. Chances are slim to eliminate income taxes, but its leverage to get a compromise (say 15%) that would never be agreed to otherwise. Art of the deal.
Posted on 2/21/25 at 10:59 am to stout
I wonder why no country does this? Just spit balling here:
1. External products will increase in price for consumers negating the additional income.
2. Domestic companies will have their products taxed heavily by other countries causing them to lose business.
3. Domestic consumers will switch to domestic products when possible to combat #1, however, that means the government now won't be getting as much income as the income relies on people purchasing external products.
I get it now, no one does this because it's the dumbest thing in the world.
1. External products will increase in price for consumers negating the additional income.
2. Domestic companies will have their products taxed heavily by other countries causing them to lose business.
3. Domestic consumers will switch to domestic products when possible to combat #1, however, that means the government now won't be getting as much income as the income relies on people purchasing external products.
I get it now, no one does this because it's the dumbest thing in the world.
Posted on 2/21/25 at 11:05 am to POTUS2024
quote:Define “superior.”
Consumption tax is still superior to tariffs.
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