Income Tax

A flat tax will happen before no tax.

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A flat tax will happen before no tax.

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National sales tax. Get rid of penalizing people simply for working and instead collect on purchases. I’m sure they can do like a lot of states and exempt certain food purchases.

The government would have to raise taxes on everything else to make up for the loss of the income tax. So, at best, it is a bait-and-switch tactic and a scam to impose additional burdens on the working class by offering exemptions for the elite, under the guise that it enables them to invest more in their companies.

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Do you think it will happen in your lifetime

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Never. FedGov is addicted to spending, there is never enough money for it to do what it wants. They will never give up a revenue source.

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Trump is the no income tax talk to get public support of his tariff policy. A boss move.

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Tariffs are a tax on the working class. The elite and government do not need to worry about bad PR from breaks because they can push the entire cost down to the consumer.

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flat tax

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That doesn't change anything.

I just want to pay 10% minus the first 50k of income.

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Do you think it will happen in your lifetime?

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No.

But we need a sales tax.
Just implement it to cover interest on the debt.
Nothing else. Just our annual debt borrowing costs.

The sales tax would float with cost of carry. If interest rates escalated, so would the tax. If rates declined, so would the % of sales tax. If debt ballooned , as it has over the past 20yrs, so would the sales tax.

It would educate the public as to the real costs being run up.

When our $40T debt inevitably settles at a ~4% C-of-C, or ~$1.5T/yr, the sales tax would be raised to cover it. With ~150M US households, the debt coverage sales tax would run around $10,000.00 per household ... per year.

See, I think that is a shared cost exposure that might actually effing wake people Up!