Trump wants to eliminate income tax, but replace it with tariffs on imported goods.

[progressive hunter]

A worthy long term goal, but not practical as world economies are connected. Trade wars carry immediate pain to consumers in immediate much higher prices to pay for the tariffs. They are a bad idea.

thats the problem,, we need to disconnect and worry about ourselves,,

who would you rather go through the hardship,, you or your children??

 

[tyroneweaver]

He has no proven track record. You are insane.

to redefine a Vince Lombardi statement. If winning makes you insane, then I'm the most insane person on the planet

 

[White 6]

thats the problem,, we need to disconnect and worry about ourselves,,

who would you rather go through the hardship,, you or your children??

I'll take option #3, as I always have, "Neither one of us". Mine are doing great, and will continue, as they are in fields that will always be in demand, unless hospitals and banks close down.

 

[progressive hunter]

I'll take option #3, as I always have, "Neither one of us". Mine are doing great, and will continue, as they are in fields that will always be in demand, unless hospitals and banks close down.

why am I not surprised you would dump the problems you caused on our children instead of taking responsibility yourself,,

 

[White 6]

why am I not surprised you would dump the problems you caused on our children instead of taking responsibility yourself,,

Ours? What are you talking about? You aren't responsible for mine. They were never your responsibility. But, mine do not wish to pay high tariffs on a daily weekly bases for consumer product, so trump can fund a tax break for people that don't need it on the backs of the middle and lower economic class of this country. Trade wars are an assault on the middle and lower income classes of the countries involved. I am not sure where you took Economics, but if you passed, you didn't get your money's worth.

 

[progressive hunter]

Ours? What are you talking about? You aren't responsible for mine. They were never your responsibility. But, mine do not wish to pay high tariffs on a daily weekly bases for consumer product, so trump can fund a tax break for people that don't need it on the backs of the middle and lower economic class of this country. Trade wars are an assault on the middle and lower income classes of the countries involved. I am not sure where you took Economics, but if you passed, you didn't get your money's worth.

I do love how you play word games to justify dumping problems you caused on future generations,,

 

[White 6]

I do love how you play word games to justify dumping problems you caused on future generations,,

You just want a tax break and other people paying for it. I don't need you to pick my pocket or the pockets of my kids to pay for your lifestyle.

 

[progressive hunter]

You just want a tax break and other people paying for it. I don't need you to pick my pocket or the pockets of my kids to pay for your lifestyle.

we can always count on you to be selfish and not think about children,,

 

[Delldude]

He has no interest in anything other than getting votes. That's it.

And Biden isn't doing the same thing?

 

[frigidweirdo]

Unlike income tax, sales taxes can’t be evaded. Everyone would have ski in the game and what should please you, the rich would pay a much higher amount of taxes than the poor. The more money you have, the more money you spend and the more tax you pay.

No.

Let's take the UK where, I think, the VAT sales tax is 20% or somewhere. Used to be 17%. I'm not sure, but we'll go for 20%

Income tax for the rich is 40% (actually it's 45%, I just looked it up after writing all this, but whatever)


So, I earn £2 million a year.
I pay £800,000 a year in income tax.

So, I'm left with £1.2 million. I spend £300,000 on stuff. Which means I spent £60,000 on tax.

So overall I spent £860,000 a year on tax with these two taxes.

No, imagine they increase sales tax to 50% and get rid of income tax.

I'm going to spend £240,000 before the tax, so I'm going to pay £480,000 for my goods instead of £300,000, and I'm going to be paying £240,000 instead of £860,000. That's good for me. I'll end the year £620,000 better off.

Now, imagine I'm a poorer worker.

I earn £20,000 a year. I pay 20% in income tax, and 20% in VAT.

So, my income tax is £4,000 a year. Then I spend the other £16,000, which means I spent another £3,200 on tax, altogether I spent £7,200. So my after tax gives me £12,800

If I pay 50% VAT and nothing on income tax, I'm going to be spending £10,000 on tax, and my take home is going to be £10,000 after tax.

Clearly, it's not beneficial for the poor to have higher VAT sales tax.

 

[22lcidw]

Ours? What are you talking about? You aren't responsible for mine. They were never your responsibility. But, mine do not wish to pay high tariffs on a daily weekly bases for consumer product, so trump can fund a tax break for people that don't need it on the backs of the middle and lower economic class of this country. Trade wars are an assault on the middle and lower income classes of the countries involved. I am not sure where you took Economics, but if you passed, you didn't get your money's worth.

From that logic, we have endless programs paying for many people who were irresponsible. We even pay them to be irresponsible. Perhaps the older people are making it more difficult for the younger people. Some of the younger will get some of their parents or grandparents' wealth though.

 

[pknopp]

Unlike income tax, sales taxes can’t be evaded.

Sure they can. Buy used.

 

[JWBooth]

what about inside competition??

america is famous for out doing the other guy,,

The regulatory state and cronyism often preclude such. Prime example is the auto industry in the late 60’s and early 70’s. They trurned out crap and Japan kicked their asses just based on quality control.

 

[j-mac]

Labor by you personally, you do, and more power to ya, for it.

That’s not what you’re backing.

 

[DudleySmith]

This is essentially the Smoot-Hawley Tariff act all over again. It doesn't work because other nations retaliate. They put tarriffs on our goods, while maintaining trade agreements with each other. They flourish in a free trade environment among each other while we languish in relative economic isolation with the international market for our goods damaged or even eliminated.

We've tried this already. It was a disaster.

The U.S. became a world power because of high tariffs; it helped develop major industries. Off-shoring gutted us back to 18th Century levels; time to reverse that flow again. England kept it's mindless 'free trade' ideology, and got outstripped by both the U.S. and Germany in a few decades. Our domestic market is larger than most, we don't need to sell cars to Viet Nam or other Turd World economies to survive. Even Henry Ford knew we needed higher wages and less Wall Street plundering of our economy.

 

[Delldude]

All this hoopla over what was said is ridiculous. Looks like it's laying the groundwork for a tax reform debate.

 

[leftwinger]

Trump didn’t impose the tariffs in China till 2018

More spin by Stain. Trump policy beginning in 2017 had shuttered American heavy industry (good jobs) factories opening up soon after his start. Now closed again under the foolish Stain communist illegal takeover. SHUP with you BS.

 

[leftwinger]

No.

Let's take the UK where, I think, the VAT sales tax is 20% or somewhere. Used to be 17%. I'm not sure, but we'll go for 20%

Income tax for the rich is 40% (actually it's 45%, I just looked it up after writing all this, but whatever)


So, I earn £2 million a year.
I pay £800,000 a year in income tax.

So, I'm left with £1.2 million. I spend £300,000 on stuff. Which means I spent £60,000 on tax.

So overall I spent £860,000 a year on tax with these two taxes.

No, imagine they increase sales tax to 50% and get rid of income tax.

I'm going to spend £240,000 before the tax, so I'm going to pay £480,000 for my goods instead of £300,000, and I'm going to be paying £240,000 instead of £860,000. That's good for me. I'll end the year £620,000 better off.

Now, imagine I'm a poorer worker.

I earn £20,000 a year. I pay 20% in income tax, and 20% in VAT.

So, my income tax is £4,000 a year. Then I spend the other £16,000, which means I spent another £3,200 on tax, altogether I spent £7,200. So my after tax gives me £12,800

If I pay 50% VAT and nothing on income tax, I'm going to be spending £10,000 on tax, and my take home is going to be £10,000 after tax.

Clearly, it's not beneficial for the poor to have higher VAT sales tax.

Wow, you made a sensible post. However <chuckling> I am certain you left out a lot of info. Like deductions etc.

 

[White 6]

we can always count on you to be selfish and not think about children,,

We can count you to favor tax breaks for the rich, financed with a Trump Trade War, to impoverish the middle and lower income classes.

 

[progressive hunter]

We can count you to favor tax breaks for the rich, financed with a Trump Trade War, to impoverish the middle and lower income classes.

it goes to everyone not just the rich,,

and lets not forget who provides the majority of the jobs in this country,, rich people

I have never worked for a poor man,,

if I asked every poor person what is their biggest problem almost all of them would say the government and taxs and I doubt a single one would say rich people that provide their jobs,,

but you go ahead and dump the problems you caused on future generations,,