re: No taxes for those making under $150K is a stupid idea. Quit picking winners and losers

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It's page out of Bernie, Pocahontas, and AOC's playbook.

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Not at all. They believe everyone should pay taxes, their fair share, but tax "the rich" even more. Stereotypical class warfare.

This is different. This is, "All income taxes are unfair. If we can free 90% from that injustice, it's a start. Hopefully, all will be freed one day."

So this thread has turned into the 10% of victims demanding that the theoretical freed 90% continue having their wealth unfairly stolen, too. It's like reverse class warfare. It's misguided and should be directed at the thieves, not former victims.

Not sure how a flat tax makes up for revenue lost. 10% of 16 trillion isn't going to cover it.

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Quit picking winners and losers

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Agree in general but I view this as incremental path to tearing down the income tax.

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You claim that the 7% will not have a tax increase if this goes through, correct?

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No, I haven't. I'm not naive to think that could never happen, knowing governmental greed/waste/corruption, of course, but if tariffs/govermental-downsizing could free 93% from income taxes currently, theoretically the 7% wouldn't have to have taxes raised. With even a little more cuts & creative measures, all citizens could be hopefully be free of personal income taxes. Tariffs & consumption taxes only, like TJ had it.

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es as I said. External Revenue through tariffs is the best plan proposed so far

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Problem with that is we would have even less revenue: spending. Based on the tariff's ceiling, which is imported goods, we won't make enough.

We import about 4 Trillion USD in goods per year, so even at 25% tariffs, that's about 1T dollars.

Currently, individual income tax is a little over 2T per year (2x what 25% tariffs on all imported goods could bring in). Even with that amount of income tax, we're 1.7T short annually. So, alone, swapping income tax for tariffs won't fix things; it would actually increase the deficit.

If the admin. is trying to get to even to pay down or restructure some debt at a lower interest rate (which is why I think Trump is okay hurting the economy short term--forcing the fed into lower rates), they likely need both tariff and income tax revenue, unless they go crazy like 100% tariffs on all goods, which would also likely dramatically decrease the amount of imports (shoot self in foot).

ETA: govt. spending has gone up at a faster rate than revenue over the last 10 years for sure (Going from memory--maybe like 4ish to 5ish on the revenue side and 5ish to almost 7 on the spending side), so Trump did not inherit an easy problem.

ETA2: Obviously other side of the coin is spending has to come down. Also not easy, even with the bulldozer approach they're attempting, but gotta do something imo.

Totalfootball is not in favor of roads or military protection, as they are theft. Noted.

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OP....There is zero logic behind any of your original post....There is zero reason that the richest of the richest are paying less % wise in taxes than the average folks.

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Well, first, they contribute in other ways to the economy in a way others do not.

But regardless, the issue most of us have isn't about the uber rich. It's about the couple that makes 600k or whatever, doesn't live like royalty, but gets treated in this conversation like they're Jeff Bezos. They're excluded from a lot of breaks already, they work for a living, and they get absolutely demolished on taxes in a way the middle class does not.

Now, if you increase the standard deduction to 150k or something that benefits those people somewhat, but in the end you need more people with skin in the game, not fewer. And we certainly don't need more policy that pits people who might live a few miles apart against each other.

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What do you think our infrastructure is such garbage?

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Probably meant to be rhetorical, but imo, low-bid public contracts often result in less quality (not an issue with some federal stuff as much of it is "best interest of the government" and not lowest-price only), low life-expectancy design to keep initial costs down, and very poor maintenance and upkeep.

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libertarian

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As a libertarian I prefer no income tax. I also prefer less income tax than more.


So all of you tax loving bitches can suck it.