2 thoughts on “EXPLAINED: Trump floats REPEALING the income tax and boosting THIS instead”
Tarriffs may provide significant gov’t income for a while at about 7% of requirements, but taking out the IRS would require a replacement of the required $’s with a Fed Sales Tax of around 14 to 16% on all ‘new’ items only. And we all would have our entire paychecks to spend however we wish. Then, our country becomes 15% more efficient and nearly every price goes down about 15% due to competition in all markets. All cash registers already have the software capabilities to handle such a Fed Sales Tax without 87,000 IRS goons.
Tarriffs may provide significant gov’t income for a while at about 7% of requirements, but taking out the IRS would require a replacement of the required $’s with a Fed Sales Tax of around 14 to 16% on all ‘new’ items only. And we all would have our entire paychecks to spend however we wish. Then, our country becomes 15% more efficient and nearly every price goes down about 15% due to competition in all markets. All cash registers already have the software capabilities to handle such a Fed Sales Tax without 87,000 IRS goons.
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The only thing that will change is the cost of gas, beer, food and lower interest rates.
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