re: Trump: Tariffs Could Replace Income Tax

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What he doesn’t seem to understand though, is that the federal budget was tiny in 1913.

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As was the economy. In comparison today’s economy with tariffs should more than cover operational expenses along with trimming frivolous spending…

Tariffs as a kind of tax mean that everyone pays in if they buy foreign products.

Canada's healthy care system is supported by a 16% sales tax on everyone, but it's "free."

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Your false premise is that the federal budget has any business being the size that it has become. It should never have been allowed to get as bloated and unnecessary as it is.

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Trump has expanded the budget YoY every year he’s been in office.

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Trump is only talking about supplanting income taxes with tariffs.

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Which is only 49% of all revenue taken in by the federal gov.

For fiscal year (FY) 2024, the government collected nearly $4.9 trillion in total revenue. Personal income taxes accounted for $2.4 trillion.

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It’s both

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No, it can't be both.

Maybe a movie reference might help.

Remember when Gayle and Evelle are robbing that bank full of hayseeds in Raising Arizona and they tell the bank customers, "Evvvverybody frezze, evvvverybody get down on the floor," and no one moves and they all look confused and the Ole Timer says, "Well, which is it young feller? You want us to freeze, or to drop? Because if we freeze, we can't rightly drop to the floor, and if we drop, why we'll be in motion."

That's what this is like.

The more manufacturing returns to America, the less revenue the tariffs collect. The more revenue the tariffs collect, that means we're still importing rather than manufacturing here.

It can't be both anymore than the hayseeds in the bank could drop to the floor and also freeze at the same time.

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dummy

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Well, somebody here is. I won't name names.

This is Trump’s way of getting taxed into the Supreme Court as unconstitutional. Brilliant move! The biggest 3-D underwater chess move imaginable.

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For fiscal year (FY) 2024, the government collected nearly $4.9 trillion in total revenue. Personal income taxes accounted for $2.4 trillion.

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Sigh….again. The math doesn’t add up.

Total personal income is roughly $29.5 trillion, of which we tax to generate $2.5 Trillion in revenue

Total imports are roughly $3.3 trillion, of which tarrifs are expected to generate roughly $350-400 billion a year in revenues.

To offset income taxes, tarrifs would have to increase to around 75-80%, however, that assumes that trade will remain at current amounts but it won’t, so tarrifs will have to be raised even further.

Y’all need to frickin stop with the stupid fantasies about tarrifs ending the Fed, or replacing the income tax, or 1913 or whatever. It ain’t happening.

After the “tarrifs will allow us to refinance the debt” stupidity, y’all need to stop.

Or do you really you really believe in the tooth fairy or strippers with a heart of gold?

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You have to love you MB tards who want to keep paying Fed taxes cause of your TDS

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Hardly, but most people would prefer living in realityville instead of being irretrievably stupid.