It's hilarious how all the government owned news agencies are attacking the idea like crazy, but the ones that aren't are reporting on it honestly is funny.
The government is insanely wasteful and could survive on half its current payroll. No taxes =no IRS and at least 87,000 less employees. Budgeting and increasing tariff revenue certainly be possible and SHOULD be done
@@toddtheisen8386 they would be privatized. Just how many prisons and jails are. Some fire departments are. Many schools are private. If you’re a person who doesn’t trust the government, why give them control of everything. All they do with funds is allocate them to the lowest bidder or whoever’s uncle can do the job… Let localities decide what they do with their taxes and give more power to them. Federal govt has no idea the nuances and intricacies of Milton Georgia. So let their residents call the shots.
I’m an advocate for a low 5% FLAT tax. No write offs, just pay 5% of what you make. Simple and EASY. That way the IRS can focus on monitoring business and 1099 people!
Maybe Trump is completely aware that it won't make up the revenues that the government currently brings in, hence the government would have to operate with much less money.
Trump blew the deficit up last time bozo. You republicans claim to care about fiscal responsibility until you are in power and then anything goes. The modern Republican Party doesn’t stand for anything or have any values. It’s the “do whatever god emperor trump feels like today party”. Embarrassing
One lower tax rate with no write offs and a small national sales tax both around 5% would work along with increasing tariff taxes. By increasing tariffs, companies will be forced to reopen manufacturing HERE creating tons of good paying jobs! Put all those “asylum seekers” to work!
@@Wongseifu548 huge tax cuts create the ability to eliminate debt if money is managed properly, it does not create debt. If our government had any balls they could eliminate a large amount of corporate taxes, then hold corporations accountable for paying better wages with all the extra money they’d have. But they won’t cut tax breaks for their lobbyists and big contributors.
Taxes are inconvenient but necessary. Private industry simply cannot be trusted to perform certain public works and services. Money is a means toward an end, not a goal. Too many corporate entities forget that.
low income employees earn around 1100 a month there’s no way they can earn a extra 1500.00 when income does not require that amount of tax to be levied against their income. Therefore the 27 million people that live below poverty level have less than 200 dollars taken per month’s for taxes, however with tax credit like eic and actc they receive a refund of approximately 4k that is used too catch up bills and buy clothes and shoes for their children. Then consider that no tax’s directly impacts government funding for things like infrastructure, law enforcement public assistance Medicaid Medicare highways roads and military and social security. Not having an income tax would effectively cripple the economy and national security. That’s logical thinking Mr logical thinker.
@@phgamer4393 I would suggest you do yourself some learning on history before you just go popping off with some random thought. Really, up until 1868 roads were made of dirt and worn down by steady wagon and horse traffic and not maintained 1862 - President Lincoln signed into law a revenue-raising measure to help pay for Civil War expenses. The measure created a Commissioner of Internal Revenue and the nation's first income tax. It levied a 3 percent tax on incomes between $600 and $10,000 and a 5 percent tax on incomes of more than $10,000. That led to funding for infrastructure and the first maintained cobblestone roads started popping up in 1868.
@@phgamer4393 if it was up to Donald chump he would have you believe he single handled built and maintained the Eisenhower interstate system. With money from his piggy bank.
Unless you are a woman, enjoy first and second amendment rights or have a dissenting opinion, but yes other than those things I agree best place in the world..
@@mr.d9922 Tariffs are a tax on consumers. Even US made goods will go up in price once you remove the competition. How much of our food is imported? How many things are made in China or other countries? Can the US economy supply everything that we require nowadays given the demographics? You do realize that this approach was tried before when the US was not a world power. This will be the beginning of a huge depression. Our prosperity since the eighties was built on free trade.
@@jonnelson9760 well, I guess we'll see, I'm cool with paying more for food or living more frugally if it means that the government won't be taking more of my money, we all know it's being spent recklessly as it is. If income tax is lowered or eliminated, I'm down for it. Less government, I'm down for that also. You can't tell me the greatest country in the world will crumble if the government doesn't tax us, that's just wrong.
Economics made simple: A quote often attributed to Dr. Adrian Rogers, a prominent American pastor and conservative Christian figure, who first delivered these ideas in a sermon in 1984. 1. You cannot legislate the poor into prosperity by legislating the wealthy out of prosperity 2. What one person receives without working for, another person must work for without receiving 3. The government cannot give to anybody anything that the government does not first take from somebody else 4. You cannot multiply wealth by dividing it! 5. When half of the people get the idea that they do not have to work because the working half is going to take care of them, and when the working half gets the idea that it does no good to work because somebody else is going to get what they work for, that is the beginning of the end for any nation.
Very interesting ideas. I personally dont believe in free lunch. It’s just my idea. The economists Thomas Sowell and Milton Friedman have similar ideas.
Negative side of raising tariffs is most of the sellers are Chinese and they can make up their purchase price as they wish while US importers gets squeezed out
The big difference is, without income tax, if you dont buy random stuff in hard economic conditions, you have way more money and companies will have to lower their damn PRICES! Its a better way to balance economy proved by some other countries.
Trump said on his proposal that increasing tariffs would LOWER or eliminate personal income tax. Your news segment focused only on the ELIMINATE income taxes and how that would never work. I think LOWERING them is something that all people would think is possible and a good thing!!
Democrats feel lowering taxes is a bad thing. They want and ALWAYS vote for MORE taxes. They don't want a home or retirment. They just want the govt to have their money. Thats one way to offend a democrat, talk of cutting taxes.
low income employees earn around 1100 a month there’s no way they can earn a extra 1500.00 when income does not require that amount of tax to be levied against their income. Therefore the 27 million people that live below poverty level have less than 200 dollars taken per month’s for taxes, however with tax credit like eic and actc they receive a refund of approximately 4k that is used too catch up bills and buy clothes and shoes for their children. Then consider that no tax’s directly impacts government funding for things like infrastructure, law enforcement public assistance Medicaid Medicare highways roads and military and social security. Not having an income tax would effectively cripple the economy and national security. That’s logical thinking Mr logical thinker.
Sweden's government is run on import tariffs, no taxes. A 100% tariff; if you buy something you buy one for the government, too. On the other hand, an "export tariff" would make China (our coal and oil) etc. pay more and force US producers to lower prices in the US to keep exports competitive. Win-win.
At least reducing taxes AND cutting back on lots of BS & wasteful Big Government spending will provide the genius talking financial talking heads another chance to prove that they have been right…really.
Then on top of everything if you put tariffs on goods coming from overseas or foreign countries the only thing that’s gonna do is cause those countries to raise their prices. You know what that means products in the United States that we buy from other countries that have to pay higher is going to further increase inflation.
low income employees earn around 1100 a month there’s no way they can earn a extra 1500.00 when income does not require that amount of tax to be levied against their income. Therefore the 27 million people that live below poverty level have less than 200 dollars taken per month’s for taxes, however with tax credit like eic and actc they receive a refund of approximately 4k that is used too catch up bills and buy clothes and shoes for their children. Then consider that no tax’s directly impacts government funding for things like infrastructure, law enforcement public assistance Medicaid Medicare highways roads and military and social security. Not having an income tax would effectively cripple the economy and national security. That’s logical thinking Mr logical thinker.
Tariffs are getting paid by the importer, us consumers. The plan would lead to: 1. This would lead to high inflation way higher than the inflation in the last years 2. Debt will explode 3. Other countries will react and put tariffs on us products which will hurt us exporters. 4. Tariffs are very regressive meaning lower and middle income families will pay more relative to their disposable income. 5. If due to tariffs everything in produced in the us products will be more expensove due to mote market power of companies and higher labor costs. Way more would be produced in the us but who should produce it? There is only 4% unemployment right now. There arent enough workers and republicans want to deport (illegal) working immigrants and no more migration. This combination cant work
Taxes are complicated. No tax on tips, what could go wrong. Will there be payroll taxes on tips? If not, workers lose social security earnings in retirement, the social security and Medicare fund loses revenue. Lets say they will still pay payroll taxes, but a lot of low income tup earners dont have a zero tax liability with head of household filing statis and children. This idea will benefit fewer taxpayers than people think.
Thats what Trumps wants to do. Go back to the way America started and what made America great. No income tax and all tariffs. That way those who spend the most (rich) pay the most taxes and vice versa.
Awesome. We need a President that will declare America Bankrupt and get rid of the $34 trillion debt. That would save us $220 billion that we currently pay each year just for interest. Trump has the experience, Trump is the only candidate qualified for the job. Imagine all the good we could do with so much extra cash.
Tariffs are a strategic tool used to correct unfair and illegal trade practices or to weaken enemies to lower the risk of war. When dealing with a country like China that does not believe in the rule of law, which violates all human rights, environmental, and trade laws. A country which has declared its enmity for the USA and all its neighbours, and is using its massive trade surplus with the USA to build up their military. Trade tariffs are the right response and in fact they do not go far enough. The US Government should be imposing massive sanctions, quotas and tariffs which escalate every year until China’s trade gap is less than 10% of the total imports from the USA. I am 100% positive that the American people would much rather pay an extra $0.50 for a plastic pail than go to war with China in 5 years, which will cost millions of lives and trillions of dollars. Economic cold war is the right response to China. If I was President, I would rapidly increase trade barriers against China until we had balanced trade. You cannot have fair trade with a communist country that is ruled by a tyrant whose declared vision is to conquer the world. The USA finally had the courage to take this positive step toward preventing a future war with China.
“So I said, let me ask you a question, and he said, nobody ever asked this question and it must be because of MIT, my relationship to MIT. Very smart. “He goes, I say, what would happen if the boat sank from its weight? And you’re in the boat and you have this tremendously powerful battery and the battery is now underwater and there’s a shark that’s approximately 10 yards over there, by the way, a lot of shark attacks lately, do you notice that a lot of shark? “I watched some guys justifying it today. Well, they weren’t really that angry. They bit off the young lady’s leg because of the fact that they were, they were not hungry, but they misunderstood what who she was? These people are. “He said there’s no problem with sharks. They just didn’t really understand a young woman swimming now. It really got decimated and other people do a lot of shark attacks. “So I said, so there’s a shark 10 yards away from the boat, 10 yards or here, do I get electrocuted if the boat is sinking? Water goes over the battery, the boat is sinking. Do I stay on top of the boat and get electrocuted or do I jump over by the shark and not get electrocuted? “Because I will tell you he didn’t know the answer. He said, you know, nobody’s ever asked me that question. I said, I think it’s a good question. I think there’s a lot of electric current coming through that water. But you know what I’d do if there was a shark or you get electrocuted, I’ll take electrocution every single time.” 🥴 DONALD J. TRUMP CONVICTED FELON REPUBLICAN NOMINEE FOR…pRESIDENT
for every 1 dumb statement that Trump makes, there are 10 braindead statements that Biden makes, eg "Russia invaded Russia", "I spoke to Zelensky the president of Iraq"... Also, dumb is STILL better than braindead :D
Eliminating, income taxes will also eliminate tax refunds. Wich millions of Americans depend on and also keep them on the line of poverty taking that away will undoubtedly thrust millions of Americans into starvation. But as long as the rich are happy screw the rest right?
Wow. what a statement. If workers had $1,200 more a month in their pockets instead of the Govts, you said it would send people into poverty and starvation? Where did you learn math?
@@thelogicalthinker5337 your not a very logical thinker. 37million worker earn below poverty level income that’s approximately 11% of Americans these are the Americans that benefit from tax returns. People that earn 1100 dollars a month. These are families with children who benefit from that 3-4 thousand dollar tax return and depend on it to catch up bills and by clothes and shoes for their children. So they don’t have an extra 1500 dollars a month by not paying taxes, if they are lucky maybe 200.00 a month by not paying taxes. The added strain on in government resources would be dramatically increased, because you would have 11% of Americans that would be paying no taxes that get no refunds and would still need the same amount of government as they did before. The only ones who benefit from paying no taxes are the rich. So in conclusion Mr Logic thinker, to be a logical thinker you must consider all avenues of information before you can come to a logical conclusion. This does not even touch the relevancy that not paying taxes would have on Medicare Medicaid and social security. Along with government funding for roads infrastructure and military finance. Not paying taxes is more along the lines of a strategy to create the lack of funding so a government structure collapses making it easier to defeated economically and militarily
@@thelogicalthinker5337 low income employees earn around 1100 a month there’s no way they can earn a extra 1500.00 when income does not require that amount of tax to be levied against their income. Therefore the 27 million people that live below poverty level have less than 200 dollars taken per month’s for taxes, however with tax credit like eic and actc they receive a refund of approximately 4k that is used too catch up bills and buy clothes and shoes for their children. Then consider that no tax’s directly impacts government funding for things like infrastructure, law enforcement public assistance Medicaid Medicare highways roads and military and social security. Not having an income tax would effectively cripple the economy and national security. That’s logical thinking Mr logical thinker.
@@thelogicalthinker5337 I think your more of a arrogant self enveloped individual that lives in his own personal bubble vs a logical thinker you should change your RU-vid handle to reflect that
@@myfalconry76 I'm talking average amercian. According to IRS the avereage American pays $1,200 a month in income tax. With no income tax, that would go into their pocket. Well fortunately the poor have an out. Since the govt won't have to pay tax credits like eic and actc, they will have more cash. Cash they can use for govt programs to help low income americans. PLUS, there is still welfare to feed the poor. Homeless here in California get $2,000 a month on welfare. They can change it to pay $2,500 and amke up for lost tax credits. Think outside the box my friend. America ran perfectly fine for 150 years without an income tax. The tariffs bring in the income for the govt.
what happened during trump's last tariff run when used cars became more expensive than new cars because the necessary parts came from china and they did NOT eat the cost, they increased it on our end. everyrhing was impossibly overpriced and consumers carried the weight. president biden is still negotiating with big box stores to get everyday products down, years later. even if the tariff idea wasn't completely stupid, it would still take years to produce what we import. that aside, the idea that trump will know how to deal even-handedly (not bully) is nil. he knows grift, not economics. the definition of insanity is ... VOTING AGAINST YOUR OWN INTERESTS OVER AND OVER AGAIN.
US imports $4 trillion a year Income tax collected $2.5 trillion. 100% tariffs would do it. Making everything in the US would create a prosperous middle class.
bro be reasonable! what Trump is sugesting is a blanket 10% tariff on all imports, and maybe 50% or 60% on imports from China..(who would ever sell into the US with a 100% tarriff imposed on them ?!) so that's gonna be somewhere around $400M in revenue...way lower than income tax collected! so i guess a more practical solution would be to coordinate with states to reduce income tax but not eliminate it comletely.
It would not. Let's be honest if we would produce our consumergoods in house rather than in cheap labourmarkets where we can avoid paying fair wages our goods would not be be nearly as cheap as they are now. What makes America rich was the creation of high tech products nobody else can develope or produce. It's much better to only create these key technologies in house and focus our labour pool on that rather than everything
No, it would make everything unaffordable. If we made every part of everything here, everything will be 2 to 3 times as expensive. $2000 for the cheapest refrigerator, $20,000 for an outdoor AC unit, $100 for the cheapest table top fan. The majority of Americans we go to a horrible quality of life.
hmm.. giess you don't read the news or watch his ads. After getting convicted, the news reported Trump raised money from billionaires, not the poor. And if you look at his ad, the first President in history were the ad stats "if you can't afford to donate, take care of your family first".
Jesus (God with us) said this is how taxes should work in the Bible. Matthew 17:25 ...Jesus prevented him, saying, What thinkest thou, Simon? of whom do the kings of the earth take custom or tribute? of their own children, or of strangers? 17:26 Peter saith unto him, Of strangers. Jesus saith unto him, Then are the children free.
low income employees earn around 1100 a month there’s no way they can earn a extra 1500.00 when income does not require that amount of tax to be levied against their income. Therefore the 27 million people that live below poverty level have less than 200 dollars taken per month’s for taxes, however with tax credit like eic and actc they receive a refund of approximately 4k that is used too catch up bills and buy clothes and shoes for their children. Then consider that no tax’s directly impacts government funding for things like infrastructure, law enforcement public assistance Medicaid Medicare highways roads and military and social security. Not having an income tax would effectively cripple the economy and national security. That’s logical thinking Mr logical thinker.
You already living in massive inflation from the plandemic, the printing goes brrrrrrr, the jabs, and sending money to 🇺🇦. And you all took it hook, line, and sinker.
Corporations do not actually pay taxes -- a cost of doing business, this "tax" is added to the cost charged by the corporation for their products or services. Only wage earners, property owners, and consumers actually pay taxes. ECONOMICS 101. The only significant effect of corporate taxes relates to the differential in tax levels among competitors in foreign markets. When US corporate taxes are excessive compared to those taxes in other countries, our corporations are motivated to move their business operations, their properties, their assets, and their jobs to other countries that have lower corporate taxes. Trump knew this and acted on it, bringing several corporations and jobs back to America. Makes you wonder what our academic economists are teaching their students.
Why not? Dubai have no income tax and is prosperous....perhaps he should make that if he gets in and eliminates income tax, he can ensure that you continue to pay yours haha
@@mr.d9922 Net oil producer, just like Saudi Arabia, Russia and Qatar. The US imports half it's oil and will never a net oil producer. The US is already the biggests oil producer by far by the way. Double the amount of Russia, he second biggest one. The best thing for the US is to reduce the amount of oil they use.
Sheese I know a lot of Americans don't understand that taxing dividends after you already taxed the corporation has a cumulative effect. But for the host of a financial show to act like "its so simple just tax all income the same" shows a real lack of understanding.
Yeah his tax changes are going to hurt 80 percent of everyone but To be honest insulting Trump supporters that way is not going to get anyone vote Democrat.
@@rtorcato I hate to say it, but idiocracy is playing out across the globe, it's not even limited to the US anymore. 72% of GDP is created in blue states, the bottom 14 GDP producers are republican states. Every fiscal policy from republicans helps the rich, yet the poor republicans keep voting for them. Knowledge is power, education is power, and without it, you vote against your own best interests.
Russia is paying billions politicians, influencers and social media trolls to have Trump reelected. He is friend of Putin and will allow him take a chunk of Ukraine
Here’s another good point to make about this inflation. Donald Trump is directly responsible for the inflation. In March 2018, he imposed tariffs on steel (25%) and aluminum (10%) from most countries, which, according to Morgan Stanley, covered an estimated 4.1 percent of U.S. imports. In June 2018, this was extended to the European Union, Canada, and Mexico. Along with tariffs on commodities and goods from china and India further exasperated the inflation. Wich gradually increased to its present point. If it wasn’t for the policies that Biden has put into place things would be so overpriced right now our economy would collapse. But you, Trumpers don’t see that. And I find it amazing that is presidential support perfectly aligned with his reality TV show ratings, and the number of people that watched it. His supporters are a bunch of people that are sitting at home drawing disability and SSI that are on a depressed and psychotic medication. Which most of them couldn’t tell their own rear from the ground
Here's what happens: 1. Inflation goes through the roof. 2. Some manufacturing comes home 3. Revenues go down because Some manufacturing came home. 4. Economic instability 5. Fascism 6. War 7. Marshall Plan from Europe --- don't hold your breath.
