re: Trump Flirts With the Ultimate Tax Cut

Shhhhh. Don't make them do that. Let them hang with their circle jerk about this

I’m all in on this. I make 30k a year and I’m being audited. 7 months in and not a word from the IRS as to what’s going on. Just a letter every 60 days telling me I don’t need to do anything right now.

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It can work if we get rid of the vast majority of bullshite government agencies

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That's why it will never pass. The federal government employs something like 2.25M civilian personnel. They have families, so feel free to multiply that number by 4 or 5 (spouse, parents, siblings, etc). Not only is that a large number, it's a large number that has stronger influence on bills Congress may pass (or not).

Putting all that aside, money is power. Being able to take money from the citizenry is damned near an ultimate power. Politicians don't give up power.

Now, putting all that aside, we're facing a nearly $36T debt. You can't make a dent in that without taxes, it's just too damned big. Ideally, the federal government would be cut drastically, making current revenues about 2x the budget, thus allowing for paying down ~$2T in debt per year. We would need to see that continue for ~15 years before the income tax could be dropped. The only other option would be to prove how truly awful MMT is as a fiscal policy.

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Would have to do away with all the Bull shite jobs the democrats created in the government.

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The average government salary is over $100k and they are pretty much just have to show up and not kill anyone. Ridiculous.

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tariffs?

dude

do you want roger the cucker and slow cuck rino to have a stroke??

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I don't know whatever happened to I B Freeman, but I guarantee you he had a miscarriage when he heard this.

I think if you want to go that route, then you would have to reduce government spending to 1890s levels...so just under a trillion a year for FedGov?

Consider the service on the debt is somewhere 850 billion.....you now have 150 to play with. Say Good bye to Social Security....Bye bye to the military, etc....now if he said reduce spending to 1990's levels, he could be onto something

Trump was not serious about cutting spending in his first term.....what makes anyone think that him, any other Republican or Democrats are in the least way interested in truly cutting spending

I want this to happen. It won’t happen long term without repealing the 16th Amendment.


Getting rid of it by law changes will only last until someone decides they want that money again and will sacrifice seats to get it.

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A value added tax.

My sainted grandfather used this term all the time for how to fix things - never understood the words, but I remembered them when the idea came into discussion a few decades ago.

Wish I'd been old enough to absorb more of that man's knowledge.

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Its simple. Think of it as a graduated sales tax.

This is just an example not intended to cover the federal budget. Think the more something cost the more tax you pay on it. So take buying a car. Lets say we have a vat on cars.

A car that cost $30k is taxed at a rate of 3%, but a car that cost $250,000 is taxed at a rate of 10%. You just build a graduated scale. The philosophy behind it is that it serves two purposes. 1. The lower incomes pay a much lower and smaller share of their income in taxes. Most house hold items might only have a .5% or 1% tax rate. 2. Those who can afford more expensive items, i.e. consume more, pay a higher tax rate, but that person also have the choice to not pay for the $250,000 car and buy the $30,000 car. So an individual does have the ability to control the amount of taxes they pay by either consuming or not consuming or consuming a bit less.

A system like that you do not need a massive IRS to audit individuals. The IRS should be for auditing businesses to make sure they are reporting properly. Business already deal with sales taxes and send that into the IRS. You probably could lay of 3/4ths of the IRS in a vat tax system.

The system can work with a reduction in spending.