Loading ...When JFK got In soon after he lowered income taxes from 24% to 18% if I remember right. Counter intuitively gov’t tax income INCRESED, because everybody liked him, and the people with small businesses stopped under reporting income.
When people are unhappy with the gov’t, and don’t feel represented by the gov’t, they cheat on their taxes any way possible. Its human nature. If everybody likes Trump, and finally feel like the Gov’t is on their side, gov’t tax income may very well climb and surprise everyone.
A silent tax revolt already started many years ago. Plus all those houses in pre-foreclosure? Here in NY there are thousands of people not paying down mortgages at all, many over four years not paying. The mortgage includes the property taxes. The banks have been getting stuck paying the taxes.
I myself know several people living “rent free” and nothing is happening to them.