Would Trump's proposed tariffs instead of income tax ever become LAW? (Poll)

[Mac-7]

The Nobility with No Ability

The omnipotent 1% have $75T. About 4% die every year. Take the inheritance away from their mooching spoiled brats and there will be no need to have any income tax ever again. It will be given back to the employees and consumers who helped the HeirDads earn it, not to un-American guillotine-fodder who did nothing to get it except win at Sperm Bingo.

If you divided all the wealth equally, within 3 generations you would have the same percentage of rich and poor that we have today

 

[Mac-7]

I was discussing it with someone who doesn’t believe it’s true

Wrong

You were discussing it with me and I said show me the money

Which you never did

 

[ElmerMudd]

Always the "showman", always dominating the news cycle, Trump once again comes up with a new and controversial idea, to replace the income tax with higher tariffs.

I don't see how the math works:
Income taxes bring in $2,200b a year currently, more if the Trump tax cuts are let expire.
Tariffs currently bring in $88b a year, but not everything imported pays a tariff

Looking at the total of US imports, lets say $4,000b a year.

• U.S. imports for 2022 was $3,966.17B, a 16.37% increase from 2021.
• U.S. imports for 2021 was $3,408.28B, a 22.75% increase from 2020.
• U.S. imports for 2020 was $2,776.50B, a 10.92% decline from 2019.
• U.S. imports for 2019 was $3,116.95B, a 0.45% decline from 2018.

So to raise ~$3T a year in revenue a 75% to 100% tariff would need to be imposed on all items. Would that make them too expensive to purchase??
Plus would that level of tariff start "trade wars" with everyone, hurting exports?

Trump's idea to replace income taxes with tariffs is a "sure way" to hurt the poor and help the rich

Experts warn that an “all tariff policy” would only benefit the wealthiest Americans

news.yahoo.com

Trump's idea to replace income taxes with tariffs is a "sure way" to hurt the poor and help the rich​

Indeed, tariffs are understood to hike consumer prices because companies pass on the cost of the tariffs they pay. Tariffs currently account for $88.3 billion of the $4.4 trillion in revenues the U.S. government reported in fiscal year 2023. Income taxes brought in about $2.2 trillion, the Treasury Department reported. To bring tariff revenues even close to income tax levels would require a dramatic spike in import taxes, much higher than Trump’s proposed 10%.

So I tend to agree with the link that replacing the Income Tax with Tariffs is a bad idea. It seems to be a billionaire's attempt to lower his income tax by punishing the poor and middle class. This idea makes me squishy in my support for Trump, I hope the House and Senate would NOT support this goofy idea.
.

A typical Trump con job on the voters. Lower income individuals think they will pay lower taxes. That sounds great. if someone does not do their homework and realize the majority of the tariffs will result in higher prices they will pay. And as the OP says, those who would benefit the most are the richest citizens.
Come on, people, quit being conned by Trump.

 

[XponentialChaos]

I was discussing it with someone who doesn’t believe it’s true…

Wrong

You were discussing it with me and I said show me the money

I’m wrong for saying you don’t believe it’s true? LoL.

 

[kyzr]

A typical Trump con job on the voters. Lower income individuals think they will pay lower taxes. That sounds great. if someone does not do their homework and realize the majority of the tariffs will result in higher prices they will pay. And as the OP says, those who would benefit the most are the richest citizens. Come on, people, quit being conned by Trump.

1. Agree, Trump gets too much like a carnival barker trying to separate you and your money.

2. I'm disappointed, I was a Trump supporter until that tariff scam.

 

[Mikeoxenormous]

Thanks for putting up a defense of Trump' proposal.

I think its stupid and I'm a Trump supporter, at least so far.

Here are the budgets from Trump and Biden:
Trump $4T
Biden $7,3T


2021 Federal Budget
Outlays $4.88T
Receipts $3.86T
Deficit $1.02T

Discretionary Spending
Defense $753b
Non-defense $733b
Total $1.49T

Mandatory Spending
Social Security $1,115b
Medicare 746b
Medicaid 452b
Other 660b
Interest on Debt 379b
Total $3.39T

There is no way to cut your way to a balanced budget by cutting government.
Welfare is now about $1,3T. So send that back to the states is what I believe you are saying.
Same with Medicaid? That would save some if the poor could be made to work.

Biden's $7.3b budget is a monstrosity that House Republicans APPROVED. Bastards.

There is so much PORK in the federal government that on the next government shutdown, all the NON ESSENTIAL personnel get their pink slips. Then you can start closing down federal building and selling them off to private enterprises, like the Old Post Office became the Trump hotel in Washington DC. I used to work for the federal government and my job was to save the agency money. At the end of the year, 4 million dollars was saved, and you know what the assholes did? Then went out and bought big screen TVs and new furniture, for their offices. I decided that it wasnt worth trying to save agencies money. If you stopped paying fuckers to sit on their asses, soon the asses are either going to find a job, thus contributing to the tax base, or they will commit crimes and then you just shoot them. Problem solved.

 

[Mikeoxenormous]

The Nobility with No Ability

The omnipotent 1% have $75T. About 4% die every year. Take the inheritance away from their mooching spoiled brats and there will be no need to have any income tax ever again. It will be given back to the employees and consumers who helped the HeirDads earn it, not to un-American guillotine-fodder who did nothing to get it except win at Sperm Bingo.

Wow, steal the money from people who actually worked hard to accumulate it. Man you must be GREEN with envy.

 

[Mikeoxenormous]

1. Agree, Trump gets too much like a carnival barker trying to separate you and your money.

2. I'm disappointed, I was a Trump supporter until that tariff scam.

Sure you were, i believe you .....NOT.

 

[Delldude]

Here is a link to FoxNews, confirming that it was a serious proposal by Trump

'Briefly floated the concept'........
Maybe it would have been better to use that as your OP?
Rather confusing...........Thanks anyway.

 

[ElmerMudd]

There is so much PORK in the federal government that on the next government shutdown, all the NON ESSENTIAL personnel get their pink slips. Then you can start closing down federal building and selling them off to private enterprises, like the Old Post Office became the Trump hotel in Washington DC. I used to work for the federal government and my job was to save the agency money. At the end of the year, 4 million dollars was saved, and you know what the assholes did? Then went out and bought big screen TVs and new furniture, for their offices. I decided that it wasnt worth trying to save agencies money. If you stopped paying fuckers to sit on their asses, soon the asses are either going to find a job, thus contributing to the tax base, or they will commit crimes and then you just shoot them. Problem solved.

Did we pay to have you sit on your sorry ass and do nothing.
When governmet funds are cut off, they will lay off all the people who do things and keep the people who sit and do nothing. In the meantime, planes don't fly, military not paid, social security not paid,Medicare not paid, fire and police would be effected.
Unfortunately we depend on too many everyday essentials from the government.

 

[ElmerMudd]

'Briefly floated the concept'........
Maybe it would have been better to use that as your OP?
Rather confusing...........Thanks anyway.

Standing up for your cult leader.
Look how he increased the national debt in his first term. He will do the same in his second term.

 

[22lcidw]

Did we pay to have you sit on your sorry ass and do nothing.
When governmet funds are cut off, they will lay off all the people who do things and keep the people who sit and do nothing. In the meantime, planes don't fly, military not paid, social security not paid,Medicare not paid, fire and police would be effected.
Unfortunately we depend on too many everyday essentials from the government.

Only those privileged from it. Meanwhile Obama is at the beach on the sand looking at the ocean spewing climate change has put it and his house under water. This means corruption. Graft, grift, stealing and any other crime that takes money from the citizens wallets.

 

[krichton]

Yes, trump was rambling and being an entertainer on the campaign stump instead of giving an official speech such as the state of the union

So dont take it too seriously

Is a rambling and incoherent yard barker who you want as a president?

 

[kyzr]

There is so much PORK in the federal government that on the next government shutdown, all the NON ESSENTIAL personnel get their pink slips. Then you can start closing down federal building and selling them off to private enterprises, like the Old Post Office became the Trump hotel in Washington DC. I used to work for the federal government and my job was to save the agency money. At the end of the year, 4 million dollars was saved, and you know what the assholes did? Then went out and bought big screen TVs and new furniture, for their offices. I decided that it wasnt worth trying to save agencies money. If you stopped paying fuckers to sit on their asses, soon the asses are either going to find a job, thus contributing to the tax base, or they will commit crimes and then you just shoot them. Problem solved.

You might be too young to remember the Grace Commission.

Grace Commission - Wikipedia

en.wikipedia.org

The Grace Commission report[4] was presented to Congress in January 1984. The report showed that if its recommendations were followed, $424 billion could be saved in three years, rising to $1.9 trillion per year by the year 2000. It estimated that the national debt, without these reforms, would rise to $13 trillion by the year 2000, while with the reforms they projected it would rise to only $2.5 trillion.[5] The report's recommendations that intruded into policy were ignored by Congress, but many other efficiency recommendations were considered.

We need another Grace Commission, and Houses of Congress willing to make legislation to save the Federal Budget.

In 1984, before the Debt exploded, congress ignored their recommendations.

 

[XponentialChaos]

'Briefly floated the concept'........
Maybe it would have been better to use that as your OP?
Rather confusing...........Thanks anyway.

 

[Harpy Eagle]

how about the government cut spending??

and it doesnt hurt the poor, it hurts the freeloaders that live off of other peoples hard work,,

keeping more of our own money helps everyone except the government,,,,

who have you voted for that cut spending?

 

[progressive hunter]

who have you voted for that cut spending?

I have never voted for someone that didnt cut spending,,

 

[ElmerMudd]

Only those privileged from it. Meanwhile Obama is at the beach on the sand looking at the ocean spewing climate change has put it and his house under water. This means corruption. Graft, grift, stealing and any other crime that takes money from the citizens wallets.

I am guessing this is what you do when given a warning by the fake media who is controlled by Obama. I am glad I don't live in your world.

 

[Mikeoxenormous]

You might be too young to remember the Grace Commission.

Grace Commission - Wikipedia

en.wikipedia.org

The Grace Commission report[4] was presented to Congress in January 1984. The report showed that if its recommendations were followed, $424 billion could be saved in three years, rising to $1.9 trillion per year by the year 2000. It estimated that the national debt, without these reforms, would rise to $13 trillion by the year 2000, while with the reforms they projected it would rise to only $2.5 trillion.[5] The report's recommendations that intruded into policy were ignored by Congress, but many other efficiency recommendations were considered.

We need another Grace Commission, and Houses of Congress willing to make legislation to save the Federal Budget.

In 1984, before the Debt exploded, congress ignored their recommendations.

No you dont, all you need is a president who would be willing to get rid of the three letter acronym agencies that colluded with the Marxist in enabling an insurrection against President Trump back in 2016. Most of those agencies would be found guilty and thus removed from the federal dole, that right there would save billions of dollars in bullshit PORK.

 

[Mac-7]

Is a rambling and incoherent yard barker who you want as a president?

He was shooting the breeze and I’m ok with that