Trump flirts with no income taxes - New York Times

[pianopraze]

Trump still flirting with no income tax: Twitter link

I think he should go all the way and illuminate irs and whole system or don’t do it at all. If he has tariffs and income tax we will end up even more taxed than before as when he leaves office greedy politicians will be greedy politicians.  

BREAKING: Trump administration pushing to eliminate taxes for individuals earning less than $150,000 per year, according to U.S. Secretary of Commerce Howard Lutnick.

[FlyersFan]

Don't forget .. he campaigned on no tax on social security ... but he hasn't EO'd that yet.
Still waiting on that one ..

[pianopraze]

Don't forget .. he campaigned on no tax on social security ... but he hasn't EO'd that yet.
Still waiting on that one ..

I don’t think he can, he has to do this through Congress.

Now if he’d work with Massie, I’m sure he would champion such a bill, instead of attacking him…

[sahgwa]

If he gets rid of income tax and the swamp loses all the funding it uses to abuse it's own citizens and others, I would be so happy. 
And before some rube tells me we will have on basic services if we get rid of federal income tax, all the stuff you rely on is paid for by your local sales tax and property taxes, so shut up. lol
The only thing we need national funds for is the military, which should be purely defence, and aviation and travel, since it crosses state lines. These can be paid for by corporate taxes since CEOs do not need to make 5 million dollars a month or whatever.

[Orionthehunter]

I like the idea of doing away with the IRS.  However I don’t believe raising tariffs in general is the way to go.  Raising taxes on the poor and middle class to 25% tariffs on everything imported will be a huge tax on the poor and middle class.  The effective tax rate is a lot lower until you start making major income for the poor and middle class.

I am ok with tariffs or a tax on foreign goods if it protects a particular US industry from getting shut down saving thousands of jobs already here.  If the EU for example imposes a 20% tax on all imported US goods as part of some vat tax, I do believe it is fair to impose an equivalent tax on goods imported from the EU.

I do like the goal of no federal taxes if your income is under $150k but I’m not a fan of all these extra tariffs.  I also tend to believe if the current administration continues with all these tariffs and huge increases in the costs of goods American consumers have to pay, the tariffs won’t stay in place after Trump is gone and that taxes will go back up in 4 years if the economy takes a nosedive so all this massive tariff plan and goal of eliminating federal taxes for those with income under 150k will be a massive economic waste as a new administration will likely raise taxes and lower tariffs in 4 years unless the economy is booming.

Right now I believe consumers have cut back their spending a great deal and we are heading for rough times overall.  If I were President I would kill almost all the tariffs and get the best economic deals achievable and attempt to convince the Fed to lower interest rates and get this economy booming instead of making everyone think they need to cut back.  That’s just my opinion.

[RickyD]

While I admire the hutzpah...

I can't see how this could be accomplished with a banking system that is hostile and private.

Now, if we had our own sovereign currency, like a proper country should... well that might be a real option.

As long as we are owned by the bank (as we are) AND we have zero economic sovereignty from a monopolistic global banking cartel that makes money-laundering "edicts"... it's never gonna happen.

(P.S. -If you want to change the dynamic - expose the bank reserve owners  -  audit the Fed.)

I would love to see a breakdown of just how much the fed makes off the US yearly...providing a service we could just as easily do ourselves. I've never heard anyone explain why we need a private bank to manage our money as opposed to Congress...like the constitution says we should.

[RickyD]

Trump still flirting with no income tax: Twitter link

I think he should go all the way and illuminate irs and whole system or don’t do it at all. If he has tariffs and income tax we will end up even more taxed than before as when he leaves office greedy politicians will be greedy politicians.  

The point of tariffs is that it drives the price of goods made outside the US up. This happens because importers pass along that cost to consumers. If items go up in price sales tend to drop as well as opening up an opportunity for someone to make those products locally and sell them for less than the imported products. This incentivizes businesses to move manufacturing locally to be able to compete on price. If businesses move production locally there is more jobs and more tax collected. We don't get tax income from companies who produced products outside the US...we can only tax business done in the US.

So yes consumers pay the tariff...but the end result ends up being that its more profitable to move manufacturing local to compete which brings more tax income and more jobs. Also brings more control when it comes to strategic products...like microchips and steel and medicine.