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Started By
Message
re: President Trump is considering abolishing federal income tax
Posted on 1/22/25 at 2:08 pm to VoxDawg
Posted on 1/22/25 at 2:08 pm to VoxDawg
quote:
There's an aura of learned helplessness that folks assume when their response to alternative forms of funding the government is "That sounds great, but Congress will never let that happen". I don't know about you, but my copy of the Constitution has an Article V. We do not need Congress' permission to enact amendments. This is why the Convention of States project seeks to educate everyone on the matter. In a perfect world, we'd send our Representatives to DC and they are keyed in to the interests of their constituents. Sadly, the rise of the career politician has destroyed that paradigm. Thankfully, the Founders were not so narrow in their thinking that they included a means of bypassing Congress entirely if they became so far removed from the will of the people that it became dramatically appropriate to short circuit the typical legislative processes.
That’s all great and I don’t disagree. It’s still not going to happen
2
Posted on 1/22/25 at 2:08 pm to Jorts R Us
quote:
Just show him the data from the price reductions that came from the 17 corp tax cut.
I would love to see that data. Please show me that.
Posted on 1/22/25 at 2:23 pm to Boss
quote:
I would love to see that data. Please show me that.
Me too. Let's see if he comes through.
Posted on 1/22/25 at 2:30 pm to PaulDrake
quote:
All this equals a lot more money in Americans pockets to offset inflation and then some.
Would it possibly cause more inflation? Especially if not offset with cuts in government spending?
Serious question. I know government taking less money from Americans is a good thing, but if money continues to be printed/borrowed at an absurd level, would that not cause inflation to rise?
Posted on 1/22/25 at 2:31 pm to Seldom Seen
CPA, Tax Attorneys and Insurance Agents would fight this tooth and nail.
Posted on 1/22/25 at 2:56 pm to St Augustine
quote:
It’s still not going to happen
I understand where you're coming from, and the basis for the skepticism, but that sort of mindset is straight poison when it comes to seeking to wrest control of our republic back from the pit of vipers that sees the US Treasury as their personal ATM.
At best it's counterproductive, and more likely straight up enables the status quo to continue unchallenged.
I'd rather see someone actively seek to defend the current income tax structure than howl like the dog on the porch who's laying on a nail. Sure, it hurts, but it doesn't hurt enough to get up and move.
Until the pain of staying the same becomes greater than the pain of change, most people simply will not change.
Posted on 1/22/25 at 3:02 pm to Reagan80
quote:
CPA, Tax Attorneys and Insurance Agents would fight this tooth and nail.
Of course they would. Their industry is structured to benefit from the current system.
Again, that also is wholly predicated on a scenario where their input is more valuable than that of the constituents who would be demanding the abolition of the income tax. The morass that is the lobbying debacle is an entirely different talk show.
That said, we the people do not need their permission to do away with the income tax structure, either. Likelihood and ability are entirely different matters.
We can debate the probabilities of the income tax going away all day long. That is a separate discussion, too.
Posted on 1/22/25 at 3:23 pm to momentoftruth87
quote:
Somehow certain people will be offended by this.
Me...taxes are my second, seasonal job and in a few years my retirement job. Actually, I don't expect it to go away in my working lifetime...it's too complicated to unwind quickly.
Posted on 1/22/25 at 3:26 pm to AUauditor
There's a dozen adjacent financial fields that your skills could be transposed over to. The average American family would net about $33k in additional earnings due to the absence of withholding.
There's more of us than there are of y'all.
Sorry, baw. Learn to code.
There's more of us than there are of y'all.
Sorry, baw. Learn to code.
Posted on 1/22/25 at 3:32 pm to VoxDawg
quote:
There's a dozen adjacent financial fields that your skills could be transposed over to. The average American family would net about $33k in additional earnings due to the absence of withholding.
There's more of us than there are of y'all.
Sorry, baw. Learn to code.
While that was a cute retort, you do understand that even if federal income taxes are done away with, the government has to be funded somehow. So, I wouldn't start spending that $33k immediately, because you will pay either in sales taxes or increased costs to cover supplier's tarrifs.
The ONLY positive about doing something other than income taxes is that it makes it harder for people to avoid taxes. Income is much easier to hide than spending.
And, if you didn't notice, I said retirement. That work is for the fun of it and to stay young. I will retire at least partially on people continuing to work and pay their social security (which will also not go away in my lifetime).
Posted on 1/22/25 at 3:34 pm to Barbados
quote:
Trump can simply pardon anyone for federal income tax crimes Easiest way around it
This is absolutely brilliant! Did you think of this on your own?
Posted on 1/22/25 at 3:38 pm to AUauditor
quote:
you do understand that even if federal income taxes are done away with, the government has to be funded somehow
I do.
quote:
you will pay either in sales taxes or increased costs to cover supplier's tarrifs.
I've an extensive post history on this board about this very thing. You're welcome to revisit the thread to see links provided to previous discussions on the matter.
The pRiCeS wIlL rIsE! argument does not bear concern in our capitalistic market, as the embedded corporate income taxes which go away under a consumption tax model will be replaced by approximately the same rate on a NRST.
Posted on 1/22/25 at 3:38 pm to RollTide1987
quote:
That takes more than an executive order. That takes a constitutional amendment. While I'm sure you can get the requisite amount of states to sign off on it in a referendum, I doubt seriously it would get the two-thirds necessary in Congress to become part of the Constitution.
The 16th amendment gives Congress the power to tax. It allows them to tax. It does not require that they tax. It would not take an amendment to eliminate it.
Posted on 1/22/25 at 3:40 pm to PaulDrake
quote:Who wants to tell him?
All this equals a lot more money in Americans pockets to offset inflation
Posted on 1/22/25 at 3:40 pm to Taxing Authority
Name checks out
Posted on 1/22/25 at 3:40 pm to Boss
quote:
I would love to see that data. Please show me that.
It's so weird that he won't provide it. Should be any time now.
This post was edited on 1/22/25 at 3:42 pm
Posted on 1/22/25 at 3:41 pm to Seldom Seen
He should, it’s a fricking joke!
Posted on 1/22/25 at 4:03 pm to Seldom Seen
Just take it down to silly low rates. Top bracket is 10% and everything is down from there. Doesn’t need anything major but some hard budget cuts to fluff
Posted on 1/22/25 at 4:16 pm to momentoftruth87
quote:
Somehow certain people will be offended by this.
All the people that did Roth conversions and paid tax on their pre-tax retirement funds before retiring.
Posted on 1/22/25 at 9:37 pm to Seldom Seen
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