re: President Trump is considering abolishing federal income tax

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I started a thread a couple of days ago on this wonderful change:

TD thread: How would the total elimination of federal income taxes change your life ?

Has a bunch of good validating info in it.

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Such as this one that explains how the revenue would be replaced:

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No information on how it is revenue neutral.

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Well, that's just factually incorrect. Under the Research tab, you'll find a host of additional information, but if you're wanting meat and potatoes about the plan, I'd suggest this research paper from The Beacon Hill Institute, A Comparison of the FairTax Base and Rate with Other National Tax Reform Proposals .

I'd recommend searching for the word "neutral". You should have about 2 dozen hits within the paper.

The simple explanation is this - under the current system, not everyone here within our borders pays into the income tax system. Under the National Retail Sales Tax plan, the number of people paying into the system is raised considerably:



The bottom line is that more people are paying into the system via the NRST, and that tax amount is approximately the same as the component of the retail price of any consumer good which are corporate income taxes that are already baked into the price paid at the register by retail customers.

The largest difference is that all purchases are made with one's entire paycheck, as withholding goes away.

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From yesterday:

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When income taxes go away, ALL income taxes go away, including those corporate income taxes that are paid by end users at retail.

Here's a link to a thread response where I go more in depth, for those interested.

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Are you really citing a research paper with revenue numbers that are 18 years old? Those numbers are irrelevant as our debt has quadrupled in that time span and spending has tripled. Anything that is actually relevant?

Tell me how DOGE can reduce spending by 2 trillon? And the only way to make it up in Tariffs is by putting tariffs at greater than 50%.

An asteroid would hit earth before this happens.

You asked for details you swore you said weren't there.

Now you want to quibble with publication date of the information you weren't able to locate.

Something tells me you're not interested in learning about the merits of the plan. You're much more dialed in to looking for stuff to bitch about it.
In this case, it's easier to argue about the publication date of a research paper that was published by folks much more knowledgeable about the matter than either of us. The fundamentals are solid. I can't help you if you're not able to synthesize the overarching concept.

Here's their current News page, all with current references and relevant articles.

If you want to understand the plan, then you have more than enough information to go on.

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Unfortunately an amendment is the only way to prevent it from coming back.

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Agreed.

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That takes more than an executive order. That takes a constitutional amendment.

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Actually, it doesn't take a constitutional amendment. It only requires that the law establishing the federal income tax be repealed. The constitutional amendment didn't create the federal income tax, it only allowed the federal government that authority to create a federal income tax on the citizens.

For the record, it was also ratified in a very unconstitutional manner. The states would not agree to its ratification in the verbiage originally presented, so each state was approached with a proposal that included verbiage acceptable to that specific state. Once each state had approved the proposals presented to them, the amendment was declared ratified and the original verbiage was added to the Constitution. (It wasn't even sneaky. It was just brazen.)

Again, I looked at the paper. The numbers have not been updated since 2007 and they are not relevant to our financial situation. Why have they not updated the study or the numbers to reflect our current situation.

I am all for a taxation system where I can choose where my taxes go, since we payed over 90K in income tax this year, but I don't see how this is feasible, and you just keep linking sites without actually providing any information. Stop being a fricking parrot, and tell us how this will be done, because I'm not seeing it.

I always get a little nervous when politicians talk about cutting taxes.

It seems like almost every tax cut has increased the amount of taxes I pay.

The most recent example is Governor Jeffery Landry's tax "reduction" passed last year. I estimate it's going to cost me about $1,000 more in various state taxes a year.