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If we go back to the system where tariffs fund the government…
Posted on 4/6/25 at 11:26 am
Posted on 4/6/25 at 11:26 am
As everyone should already know, from the founding of the country until 1913, our government was funded via tariffs. There was no national income tax. So..
1. What does that mean for government spending? Massive cuts?
2. What does that mean for the current income tax structure? Abolished? Cut? Nothing?
1. What does that mean for government spending? Massive cuts?
2. What does that mean for the current income tax structure? Abolished? Cut? Nothing?
7
Posted on 4/6/25 at 11:27 am to Darth_Vader
We won't go to that. It will be a better blend that keeps the critical needs in the USA
Posted on 4/6/25 at 11:28 am to Darth_Vader
It would result in huge government and entertainment cuts.
Everyone would have skin in the game.
This is why it'll never happen.
Everyone would have skin in the game.
This is why it'll never happen.
Posted on 4/6/25 at 11:29 am to Darth_Vader
Thats not ever going to happen because if the tariffs work to bring back mfg, USG revenue would drop below critical levels.
Posted on 4/6/25 at 11:31 am to Darth_Vader
Whether govt gets money via income tax or tariffs I don’t care, but not both. If tariffs are enacted then income tax needs to be abolished or cut dramatically. The elephant in the room is congress. If they don’t cut spending dramatically it’s all irrelevant
Posted on 4/6/25 at 11:56 am to Darth_Vader
The big difference after the switch from tariffs to income tax was the creation of social security and welfare. Tariffs can't pay for that and their phase out would have to be gradual. So, income tax could never be abolished without stopping SS and welfare. BTW, I have no problem with gradually abolishing them.
Posted on 4/6/25 at 11:57 am to Darth_Vader
quote:
If we go back to the system where tariffs fund the government…
Tariffs could never fund the bloated pig that our FedGov has become. When we were on that system, the Federal government was sticking to it's constitutional mandates, so spending was low.
Posted on 4/6/25 at 11:57 am to RogerTheShrubber
quote:
Thats not ever going to happen because if the tariffs work to bring back mfg, USG revenue would drop below critical levels
Posted on 4/6/25 at 12:03 pm to Darth_Vader
Income taxes are a cash cow for the government. It was after that point that the bureaucracy began to grow and take over. Entitlements only exist because of all the money income taxes bring in. Any combination of income taxes and tariffs isn't going to change anything.
I want it all gone.
But, if you think they're going to give up their free money without a fight you are mistaken. Just look at wailing and gnashing of teeth when the stock market went down 5% because we had the audacity of placing reciprocal tariffs on other countries.
I want it all gone.
But, if you think they're going to give up their free money without a fight you are mistaken. Just look at wailing and gnashing of teeth when the stock market went down 5% because we had the audacity of placing reciprocal tariffs on other countries.
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